Shares of Editas Medicine, Inc. (EDIT) are climbing more than 28 percent on Wednesday morning trade after the company reported narrower net loss for the fourth quarter, compared to the prior year.
The quarterly loss was $18.87 million or $0.23 per share, narrower than $60.74 million or $0.88 per share last year. Analysts were looking for loss of $0.54 per share.
Collaboration and other research and development revenues surged to $60.05 million from $6.54 million in the prior year.
In the adolescent cohort of the Ruby trial, the company has initiated enrollment.
Currently, shares are at $11.39, up 28.53 percent from the previous close of $8.86 on a volume of 3,471,271.
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