0001650664-26-000045 | 10-Q | XBRL Viewer

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Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Collaboration and other research and development revenues	$ 2,831	$ 4,658
Operating expenses:
Stock-based compensation expenses	2,102	2,979
Interest expense related to sale of future revenues	(1,072)	(2,216)
Interest income, net	1,206	2,716
Other expense, net	(113)	(425)
Net loss	(24,982)	(76,088)
Reportable Segment
Segment Reporting Information [Line Items]
Collaboration and other research and development revenues	2,831	4,658
Operating expenses:
Interest expense related to sale of future revenues	(1,072)	(2,216)
Interest income, net	1,206	2,716
Other expense, net	(113)	(425)
Net loss	(24,982)	(76,088)
Research and development
Operating expenses:
Stock-based compensation expenses	544	907
Research and development \| Reportable Segment
Operating expenses:
Employee related expenses	5,419	14,167
External research and development expenses	3,504	35,355
Facility expenses	3,224	9,393
Stock-based compensation expenses	544	907
Sublicense and license fees	2,411	17
Other expenses	2,498	5,997
Restructuring and impairment charges	0	39,243
General and administrative
Operating expenses:
Stock-based compensation expenses	1,558	2,072
General and administrative \| Reportable Segment
Operating expenses:
Employee related expenses	2,109	5,105
Facility expenses	1,574	2,823
Stock-based compensation expenses	1,558	2,072
Professional service expenses	1,588	2,439
Intellectual property and patent related fees	3,405	2,546
Restructuring and impairment charges	$ 0	$ 1,610

Restructuring and Impairment Charges - Schedule of Employee Termination Benefits (Details) - Employee Termination Benefits $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 1,555
Employee termination benefits charges incurred during period	0
Amounts paid or otherwise settled during the period	(961)
Ending balance	$ 594

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Collaboration Agreements - Narrative (Details)	1 Months Ended	3 Months Ended
Collaboration Agreements - Narrative (Details)	Mar. 31, 2024 target	Mar. 31, 2026 USD ($) extensionOption	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from collaboration		$ 2,831,000	$ 4,658,000
Long-term deferred revenue		$ 44,509,000		$ 44,509,000
Bristol Myers Squibb Company ("BMS") \| Amended Collaboration Agreement 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Agreement extension period, options to extend	2 years	1 year
Number of gene targets \| target	3
Number of extension options, expired \| extensionOption		1
Revenue from collaboration		$ 0	$ 0
Short-term deferred revenue		0		0
Long-term deferred revenue		$ 40,500,000		$ 40,500,000

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Stock-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Shares
Expired (in shares)	(75,582)
Weighted Average Exercise Price
Expired (in dollars per share)	$ 12.42
Stock Options
Shares
Outstanding, beginning of period (in shares)	8,403,694
Granted (in shares)	4,424,417
Exercised (in shares)	0
Forfeited (in shares)	(127,994)
Outstanding, end of period (in shares)	12,624,535	8,403,694
Vested and expected to vest (in shares)	12,624,535
Exercisable (in shares)	4,096,257
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 8.37
Granted (in dollars per share)	2.52
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	2.79
Outstanding, end of period (in dollars per share)	6.35	$ 8.37
Vested and expected to vest (in dollars per share)	6.35
Exercisable (in dollars per share)	$ 13.87
Stock Options Additional Disclosures
Remaining contractual life (years)	8 years 21 days	7 years 7 months 24 days
Vested and expected to vest (years)	8 years 21 days
Exercisable, remaining contractual life (years)	5 years 11 months 15 days
Aggregate intrinsic value	$ 3,164	$ 1,395
Vested and expected to vest	3,164
Exercisable, aggregate intrinsic value	$ 630

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Unaudited Interim Financial Information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Annual Report”). The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Editas Securities Corporation and Editas Medicine, LLC. All intercompany transactions and balances of the subsidiaries have been eliminated in consolidation. In the opinion of management, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair statement of the results for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The three months ended March 31, 2026 and 2025 are referred to as the first quarter of 2026 and 2025, respectively. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, “Summary of Significant Accounting Policies,” to the consolidated financial statements included in the Annual Report. There have been no material changes to the significant accounting policies previously disclosed in the Annual Report. Recently Adopted Accounting Pronouncements In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-07 Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. The amendments provide for a new scope exception to the derivatives guidance for underlyings based on the operations or activities specific to one of the parties to the contract, and also clarifies that share-based noncash consideration received from a customer as consideration for the transfer of goods or services in a revenue contract is subject to the revenue guidance and not the financial instruments guidance unless and until the company’s right to receive or retain the share-based noncash consideration is unconditional as defined in the ASU. The amendments are effective for annual reporting periods beginning after December 15, 2026, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted the standard prospectively in the first quarter of 2026 and did not have a material impact on its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income -Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve the disclosure of expenses by providing more detailed information about the types of expenses in commonly presented expense captions. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The amendments can be applied either prospectively or retrospectively. The Company has not early adopted this ASU and is currently evaluating the impact of this new standard on its condensed consolidated financial statements and related disclosures.

Collaboration Agreements

3 Months Ended

Mar. 31, 2026

Collaboration Agreements [Abstract]

Collaboration Agreements

The Company has entered into multiple collaborations, out-licenses and strategic alliances with third parties that typically involve payments to or from the Company, including up-front payments, payments for research and development services, option payments, milestone payments and royalty payments to or from the Company. The terms and conditions as well as the accounting analysis for the Company’s significant collaborations, out-licenses and strategic alliances are described in Note 9, “Collaboration Agreements” to the consolidated financial statements included in the Annual Report.

Collaboration Revenue

As of March 31, 2026, the Company’s contract liabilities were primarily related to the Company’s collaboration with BMS. The following table presents changes in the Company’s accounts receivable and contract liabilities for the three months ended March 31, 2026 (in thousands):


	Balance at December 31, 2025		Additions		Deductions		Balance at March 31, 2026
Accounts receivable	$	15,176	$	3,007	$	(15,591)	$	2,592
Contract liabilities:
Deferred revenue	$	44,509	$	—	$	—	$	44,509

Amendment to BMS Collaboration Agreement

In March 2024, the Company entered into an amendment (“2024 Amendment”) to the Second Amended and Restated Collaboration and License Agreement, dated as of November 11, 2019, by and between the Company and BMS, through its wholly owned subsidiary Juno Therapeutics, to extend the collaboration to November 2026, with options to extend the collaboration for up to an additional two years, and to provide BMS the ability to select up to three new gene targets for research. As of March 31, 2026, one extension option has expired, and BMS retains the right to extend the collaboration for one additional year.

The Company’s accounting assessment for the 2024 Amendment is described in Note 9, “Collaboration Agreements,” to the consolidated financial statements included in the Annual Report.

The Company did not recognize any revenue related to its collaboration with BMS during the three months ended March 31, 2026 and 2025. As of both March 31, 2026 and December 31, 2025, there was no short-term deferred revenue and $40.5 million of long-term deferred revenue in the accompanying condensed consolidated balance sheets.

The Company concluded that the rights and attributes of each of the development and commercialization licenses are identical for both the license granted at inception and the licenses that may be issued in the future upon exercise of the associated option represent the remaining performance obligations under the arrangement. The Company will recognize the transaction price allocated to each material right when the material right is exercised, lapsed, or expired.

Restructuring and Impairment Charges - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring and Related Activities [Abstract]
Employee termination benefits	$ 0	$ 3,509
Costs for ongoing contracts and terminated contracts	0	28,875
Acceleration of expense for change in useful life estimate and lease termination	0	4,745
Impairment charges	0	3,724
Total restructuring and impairment charges	$ 0	$ 40,853

Restructuring and Impairment Charges - Narrative (Details) $ in Thousands	3 Months Ended			16 Months Ended
	Mar. 31, 2026 USD ($)	Jun. 30, 2025 USD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2026 USD ($) position	Dec. 31, 2025 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated \| position				180
Restructuring and related cost, number of positions eliminated, period percent				65.00%
Interest related to sale of future revenues	$ 0		$ 3,724
Restructuring and related cost, accelerated depreciation		$ 1,800
Termination of lease		$ 4,800
Business exit costs	0		4,745
Discontinued Operations, Held-for-Sale or Disposed of by Sale
Restructuring Cost and Reserve [Line Items]
Interest related to sale of future revenues			$ 3,800
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Accrued contract costs	594			$ 594	$ 1,555
Costs for ongoing contracts and terminated contracts
Restructuring Cost and Reserve [Line Items]
Accrued contract costs	8,730			8,730	$ 10,196
Termination of lease	0
Costs for ongoing contracts and terminated contracts \| Other Noncurrent Liabilities
Restructuring Cost and Reserve [Line Items]
Accrued contract costs	$ 2,600			$ 2,600

Property and Equipment, net (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Laboratory equipment	$	19,094	$	21,558
Leasehold improvements	8,403		8,403
Computer equipment	1,161		1,399

Furniture and office equipment	191		191
Software	320		344
Total property and equipment	29,169		31,895
Less: accumulated depreciation	(26,285)		(28,353)
Property and equipment, net	$	2,884	$	3,542

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net loss	$ (24,982)	$ (76,088)
Other comprehensive loss:
Unrealized loss on marketable debt securities	0	(180)
Comprehensive loss	$ (24,982)	$ (76,268)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Paragraph 7
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
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Reference 47: http://www.xbrl.org/2003/role/disclosureRef
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Reference 48: http://www.xbrl.org/2003/role/disclosureRef
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Reference 49: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Collaboration Agreements (Tables)

3 Months Ended

Mar. 31, 2026

Collaboration Agreements [Abstract]

Schedule of Accounts Receivable and Contract Liabilities

The following table presents changes in the Company’s accounts receivable and contract liabilities for the three months ended March 31, 2026 (in thousands):


	Balance at December 31, 2025		Additions		Deductions		Balance at March 31, 2026
Accounts receivable	$	15,176	$	3,007	$	(15,591)	$	2,592
Contract liabilities:
Deferred revenue	$	44,509	$	—	$	—	$	44,509

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Financial Assets
Total financial assets	$ 126,318	$ 149,315
Money market funds
Financial Assets
Cash equivalents:	123,648	146,645
Restricted cash and other non-current assets:	2,670	2,670
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets
Total financial assets	126,318	149,315
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money market funds
Financial Assets
Cash equivalents:	123,648	146,645
Restricted cash and other non-current assets:	2,670	2,670
Significant Other Observable Inputs (Level 2)
Financial Assets
Total financial assets	0	0
Significant Other Observable Inputs (Level 2) \| Money market funds
Financial Assets
Cash equivalents:	0	0
Restricted cash and other non-current assets:	0	0
Significant Unobservable Inputs (Level 3)
Financial Assets
Total financial assets	0	0
Significant Unobservable Inputs (Level 3) \| Money market funds
Financial Assets
Cash equivalents:	0	0
Restricted cash and other non-current assets:	$ 0	$ 0

Restructuring and Impairment Charges

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring and Impairment Charges

On December 11, 2024, the Company’s board of directors approved the discontinuation of the clinical development of the Company's renizgamglogene autogedtemcel (“reni-cel”) program to treat sickle cell disease and transfusion-dependent beta thalassemia (the “Discontinuation”). As a result of the Discontinuation, the Company ceased activities towards the filing of a biologic license application and potential commercialization of reni-cel. In connection with the Discontinuation, the Company’s board of directors also approved a reduction in the Company’s employee workforce by approximately 180 positions, or approximately 65% (the “Reduction”).

The Company incurred the following restructuring and impairment charges in connection with the Discontinuation and Reduction for the three months ended March 31, 2026 and 2025, which are recorded in the condensed consolidated statements of operations (in thousands):


	Three Months Ended March 31,		Three Months Ended March 31,
	2026		2025
Employee termination benefits	$	—	$	3,509
Costs for ongoing contracts and terminated contracts	—		28,875
Acceleration of expense for change in useful life estimate and lease termination	—		4,745
Impairment charges	—		3,724
Total restructuring and impairment charges	$	—	$	40,853

The actions associated with the Discontinuation and Reduction commenced in December 2024 and were substantially completed by December 31, 2025.

Employee Termination Benefits

Employees affected by the Reduction received involuntary termination benefits pursuant to either a one-time benefit or arrangement or salary continuation for a set period of time in accordance with the Company’s Amended and Restated Severance Benefit Plan (the “Benefit Plan”). For employees who were notified of their termination in December 2024 and had no requirements to provide future services or were subject to the Benefit Plan, the Company recognized the liability for the termination benefits in full at fair value in the fourth quarter of 2024. For employees who were required to render services beyond a minimum retention period to receive their one-time termination benefits or salary continuation, the Company recognized the termination benefits ratably over their future service periods. The service periods began in December 2024 and were completed in 2025.

The following table shows the liability related to employee termination benefits as of March 31, 2026 (in thousands):


	Employee Termination Benefits
Accrued employee termination benefits as of December 31, 2025	$	1,555
Employee termination benefits charges incurred during period	—
Amounts paid or otherwise settled during the period	(961)
Accrued employee termination benefits as of March 31, 2026	$	594

Costs for Ongoing Contracts and Terminated Contracts

The Discontinuation resulted in contract termination costs from vendor contracts before the end of their term, as well as costs that continue to be incurred under certain contracts with no future economic benefit to the Company. In accordance with ASC 420, the Company recognized these unavoidable contract costs when incurred for terminated contracts or at the cease-use date, as it relates to contract costs that continue to be incurred.

The following table shows the liability related to costs for ongoing contracts and contract termination costs as of March 31, 2026 (in thousands):


	Contract Costs
Accrued contract costs as of December 31, 2025	$	10,196
Contract costs incurred during the period	—
Amounts paid or otherwise settled during the period	(1,466)
Accrued contract costs as of March 31, 2026	$	8,730

At March 31, 2026, $2.6 million of accrued contract costs was included in Other non-current liabilities on the condensed consolidated balance sheet.

These costs are subject to significant estimation based on the Company's expectation of the costs that will continue to be incurred on the contracts, as well as negotiation of contract changes and terminations with its vendors. Changes in this estimate will be made in the period the information is knowable and could be material.

Impairment and Accelerated Depreciation Charges

In conjunction with the Discontinuation, the Company committed to a plan to actively sell specific assets within its asset group, primarily certain of its laboratory and manufacturing equipment. The Company recorded a $3.8 million impairment charge during the year ended December 31, 2025 related to the sale of the specified assets. The sale was completed in April 2025.

Additionally, the Company abandoned certain other leasehold improvements, software, and right of use assets in the second quarter of 2025, and as a result, the Company accelerated depreciation and rent expense and recorded $1.8 million and $4.8 million of accelerated depreciation related to leasehold improvements and software, and charges related to termination of lease, respectively, as of December 31, 2025. The Company recognized no impairment and accelerated depreciation charges during the three months ended March 31, 2026.

Net Loss per Share (Details) - shares	3 Months Ended
Net Loss per Share (Details) - shares	Mar. 31, 2026	Mar. 31, 2025
Potentially dilutive securities
Anti-dilutive common stock equivalent shares (in shares)	13,118,224	12,752,770
Unvested restricted stock unit awards
Potentially dilutive securities
Anti-dilutive common stock equivalent shares (in shares)	493,689	1,499,103
Outstanding stock options
Potentially dilutive securities
Anti-dilutive common stock equivalent shares (in shares)	12,624,535	11,253,667

Stock-based Compensation - Restricted Stock Unit Awards Activity (Details) - Unvested restricted stock unit awards	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Shares
Unvested restricted stock unit awards, beginning of period (in shares) \| shares	595,730
Issued (in shares) \| shares	0
Vested (in shares) \| shares	(34,038)
Forfeited (in shares) \| shares	(68,003)
Unvested restricted stock unit awards, end of period (in shares) \| shares	493,689
Weighted Average Grant Date Fair Value Per Share
Balance, beginning of period (in dollars per share) \| $ / shares	$ 9.11
Issued (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	10.29
Forfeited (in dollars per share) \| $ / shares	8.51
Balance, ending of period (in dollars per share) \| $ / shares	$ 9.19

Restructuring and Impairment Charges (Tables)

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs


	Three Months Ended March 31,		Three Months Ended March 31,
	2026		2025
Employee termination benefits	$	—	$	3,509
Costs for ongoing contracts and terminated contracts	—		28,875
Acceleration of expense for change in useful life estimate and lease termination	—		4,745
Impairment charges	—		3,724
Total restructuring and impairment charges	$	—	$	40,853

Schedule of Employee Termination Benefits

The following table shows the liability related to employee termination benefits as of March 31, 2026 (in thousands):


	Employee Termination Benefits
Accrued employee termination benefits as of December 31, 2025	$	1,555
Employee termination benefits charges incurred during period	—
Amounts paid or otherwise settled during the period	(961)
Accrued employee termination benefits as of March 31, 2026	$	594

Schedule of Contract Termination Costs

The following table shows the liability related to costs for ongoing contracts and contract termination costs as of March 31, 2026 (in thousands):


	Contract Costs
Accrued contract costs as of December 31, 2025	$	10,196
Contract costs incurred during the period	—
Amounts paid or otherwise settled during the period	(1,466)
Accrued contract costs as of March 31, 2026	$	8,730

Accrued Expenses

3 Months Ended

Mar. 31, 2026

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
External research and development expenses	$	6,799	$	9,672
Employee related expenses	2,780		5,220
Sublicense and license fees	2,401		5,501
Intellectual property and patent related fees	1,788		2,105
Professional service expenses	332		232
Employee termination benefits	594		1,555
Restructuring contract costs	6,094		7,769
Other expenses	460		556
Total accrued expenses	$	21,248	$	32,610

Restructuring and Impairment Charges - Schedule of Contract Termination Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Jun. 30, 2025
Restructuring Reserve [Roll Forward]
Contract costs incurred during the period		$ (4,800)
Contract Costs
Restructuring Reserve [Roll Forward]
Beginning balance	$ 10,196
Contract costs incurred during the period	0
Amounts paid or otherwise settled during the period	(1,466)
Ending balance	$ 8,730

Cash Equivalents - Schedule of Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Cash Equivalents and Marketable Securities
Amortized Cost	$ 123,648	$ 146,645
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	123,648	146,645
Money market funds
Cash Equivalents and Marketable Securities
Amortized Cost	123,648	146,645
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 123,648	$ 146,645

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
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-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482736/825-10-45-1A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
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-Name Accounting Standards Codification
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-Paragraph 11
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-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
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-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
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-Section 55
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-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481830/320-10-45-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(6))
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

Stock-based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

Total compensation cost recognized for all stock-based compensation awards in the condensed consolidated statements of operations was as follows (in thousands):


	Three Months Ended March 31,
	2026		2025
Research and development	$	544	$	907
General and administrative	1,558		2,072
Total stock-based compensation expense	$	2,102	$	2,979

Restricted Stock Units

The following is a summary of restricted stock units activity for the three months ended March 31, 2026:


	Shares	Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units as of December 31, 2025	595,730	$	9.11
Issued	—	$	—
Vested	(34,038)	$	10.29
Forfeited	(68,003)	$	8.51
Unvested restricted stock units as of March 31, 2026	493,689	$	9.19

There were no restricted stock units that contained performance-based vesting provisions granted in the three months ended March 31, 2026. There was no expense related to the vesting of performance-based restricted stock units for the three months ended March 31, 2026 and 2025.

As of March 31, 2026, total unrecognized compensation expense related to unvested restricted stock units was $2.1 million, which the Company expects to recognize over a remaining weighted-average period of 1.34 years.

Stock Options

The following is a summary of stock option activity for the three months ended March 31, 2026:


	Shares	Weighted Average Exercise Price		Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2025	8,403,694	$	8.37	7.65	$	1,395
Granted	4,424,417	$	2.52
Exercised	—	$	—
Expired	(75,582)	$	12.42
Forfeited	(127,994)	$	2.79
Outstanding at March 31, 2026	12,624,535	$	6.35	8.06	$	3,164
Vested and expected to vest at March 31, 2026	12,624,535	$	6.35	8.06	$	3,164
Exercisable at March 31, 2026	4,096,257	$	13.87	5.96	$	630

As of March 31, 2026, total unrecognized compensation expense related to stock options was $15.8 million, which the Company expects to recognize over a remaining weighted-average period of 3.00 years.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

Assets measured at fair value on a recurring basis as of March 31, 2026 were as follows (in thousands):


	March 31, 2026		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	123,648	$	123,648	$	—	$	—





Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	126,318	$	126,318	$	—	$	—

Assets measured at fair value on a recurring basis as of December 31, 2025 were as follows (in thousands):


	December 31, 2025		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	146,645	$	146,645	$	—	$	—





Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	149,315	$	149,315	$	—	$	—

Cash Equivalents - Narrative (Details) - USD ($)	3 Months Ended
Cash Equivalents - Narrative (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025
Cash and Cash Equivalents [Abstract]
Realized gains (losses) on available-for-sale securities	$ 0	$ 0

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Supplier Finance Program [Line Items]
External research and development expenses	$ 6,799	$ 9,672
Employee related expenses	2,780	5,220
Sublicense and license fees	2,401	5,501
Intellectual property and patent related fees	1,788	2,105
Professional service expenses	332	232
Other expenses	460	556
Total accrued expenses	21,248	32,610
Employee termination benefits
Supplier Finance Program [Line Items]
Restructuring reserve	594	1,555
Restructuring contract costs
Supplier Finance Program [Line Items]
Restructuring reserve	$ 6,094	$ 7,769

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 123,648	$ 146,645
Accounts receivable	2,592	15,176
Prepaid expenses and other current assets	1,826	2,074
Total current assets	128,066	163,895
Property and equipment, net	2,884	3,542
Right-of-use assets	15,412	16,121
Restricted cash and other non-current assets	2,976	2,976
Total assets	149,338	186,534
Current liabilities:
Accounts payable	4,332	2,605
Accrued expenses	21,248	32,610
Liability for sale of future revenues, current	7,500	5,000
Operating lease liabilities, current	6,699	6,031
Total current liabilities	39,779	46,246
Operating lease liabilities, net of current portion	10,598	12,071
Liability for sale of future revenues, net of current portion	47,177	53,605
Deferred revenue, net of current portion	44,509	44,509
Other non-current liabilities	2,867	2,815
Total liabilities	144,930	159,246
Stockholders’ equity
Preferred stock, $0.0001 par value per share: 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.0001 par value per share: 390,000,000 shares authorized; 97,901,034 and 97,866,996 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	10	10
Additional paid-in capital	1,657,883	1,655,781
Accumulated other comprehensive income	0	0
Accumulated deficit	(1,653,485)	(1,628,503)
Total stockholders’ equity	4,408	27,288
Total liabilities and stockholders’ equity	$ 149,338	$ 186,534

Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents the changes in the liability related to the sale of future revenues under the Purchase and Sale Agreement with DRI as of March 31, 2026 (in thousands):


	March 31, 2026
Deferred royalty obligation related to the sale of future revenues, net as of December 31, 2025	$	58,605
Payments for sale of future revenues	(5,000)
Non-cash interest expense associated with sale of future revenues	1,009
Amortization of issuance costs	63
Deferred royalty obligation related to the sale of future revenues, net as of March 31, 2026	$	54,677

Property and Equipment, net

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and equipment, net consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Laboratory equipment	$	19,094	$	21,558
Leasehold improvements	8,403		8,403
Computer equipment	1,161		1,399

Furniture and office equipment	191		191
Software	320		344
Total property and equipment	29,169		31,895
Less: accumulated depreciation	(26,285)		(28,353)
Property and equipment, net	$	2,884	$	3,542

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Segments

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segments

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the Chief Operating Decision Maker (“CODM”) or decision-making group in making decisions on how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer (“CEO”). The CEO views the Company’s operations and manages the Company’s business as one operating segment, which is the business of developing and commercializing genome editing technology.

The Company’s CEO manages and allocates resources to the operations of the Company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with our long-term company-wide strategic goals. In making these decisions, the Company’s CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period

financial results, allocating resources and setting incentive targets. The CODM performs this assessment based on the Company’s consolidated net loss. Through this analysis, the CODM assesses performance by comparing actual consolidated net loss versus the budget, and then decides how to allocate resources to invest in the Company’s research and development programs. The measure of segment assets is reported on the condensed consolidated balance sheet as total assets.

The following table contains additional information on our consolidated revenue and net loss, including significant segment expenses (in thousands):


	Three Months Ended March 31,
	2026		2025
Collaboration and other research and development revenues	$	2,831	$	4,658
Operating expenses:
Research and development1
Employee related expenses	5,419		14,167
External research and development expenses	3,504		35,355
Facility expenses	3,224		9,393
Stock-based compensation expenses	544		907
Sublicense and license fees	2,411		17
Other expenses3	2,498		5,997
General and administrative2
Employee related expenses	2,109		5,105
Professional service expenses	1,588		2,439
Intellectual property and patent related fees	3,405		2,546
Stock-based compensation expenses	1,558		2,072
Facility and other expenses4	1,574		2,823



Interest expense related to sale of future revenues	(1,072)		(2,216)
Interest income, net	1,206		2,716
Other expense, net	(113)		(425)

Net loss	$	(24,982)	$	(76,088)

1 For the three months ended March 31, 2026, research and development includes no restructuring and impairment charges. For the three months ended March 31, 2025, research and development includes $39,243 of restructuring and impairment charges.
2 For the three months ended March 31, 2026, general and administrative includes no restructuring and impairment charges. For the three months ended March 31, 2025, general and administrative includes $1,610 of restructuring and impairment charges.
3 Other expenses primarily consists of impairment charges, consultant fees, and office expenses.
4 Facility and other expenses primarily consists of rent expense, insurance premiums, depreciation expense, software licenses, and office expenses.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Total compensation cost recognized for all stock-based compensation awards in the condensed consolidated statements of operations was as follows (in thousands):


	Three Months Ended March 31,
	2026		2025
Research and development	$	544	$	907
General and administrative	1,558		2,072
Total stock-based compensation expense	$	2,102	$	2,979

Schedule of Changes in Unvested Restricted Stock

The following is a summary of restricted stock units activity for the three months ended March 31, 2026:


	Shares	Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units as of December 31, 2025	595,730	$	9.11
Issued	—	$	—
Vested	(34,038)	$	10.29
Forfeited	(68,003)	$	8.51
Unvested restricted stock units as of March 31, 2026	493,689	$	9.19

Schedule of Stock Option Activity

The following is a summary of stock option activity for the three months ended March 31, 2026:


	Shares	Weighted Average Exercise Price		Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2025	8,403,694	$	8.37	7.65	$	1,395
Granted	4,424,417	$	2.52
Exercised	—	$	—
Expired	(75,582)	$	12.42
Forfeited	(127,994)	$	2.79
Outstanding at March 31, 2026	12,624,535	$	6.35	8.06	$	3,164
Vested and expected to vest at March 31, 2026	12,624,535	$	6.35	8.06	$	3,164
Exercisable at March 31, 2026	4,096,257	$	13.87	5.96	$	630

Commitments and Contingencies (Details) - USD ($) $ in Thousands		3 Months Ended
	Apr. 30, 2025	Mar. 31, 2026	Mar. 31, 2025	Jan. 31, 2025	Sep. 30, 2024	Dec. 31, 2023
Commitments and contingencies
Final fixed payment		$ 2,004	$ 5,406
License and Service Agreement
Commitments and contingencies
Operating lease, termination notification period (in months)					18 months	12 months
Remaining payments owed				$ 8,900
Final fixed payment	$ 3,700
Licensor Expense Reimbursements
Commitments and contingencies
Expense for prosecution and maintenance of patent rights		$ 2,300	$ 1,900

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2026
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-07 Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. The amendments provide for a new scope exception to the derivatives guidance for underlyings based on the operations or activities specific to one of the parties to the contract, and also clarifies that share-based noncash consideration received from a customer as consideration for the transfer of goods or services in a revenue contract is subject to the revenue guidance and not the financial instruments guidance unless and until the company’s right to receive or retain the share-based noncash consideration is unconditional as defined in the ASU. The amendments are effective for annual reporting periods beginning after December 15, 2026, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted the standard prospectively in the first quarter of 2026 and did not have a material impact on its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income -Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve the disclosure of expenses by providing more detailed information about the types of expenses in commonly presented expense captions. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The amendments can be applied either prospectively or retrospectively. The Company has not early adopted this ASU and is currently evaluating the impact of this new standard on its condensed consolidated financial statements and related disclosures.

Property and Equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property and equipment, net
Total property and equipment	$ 29,169	$ 31,895
Less: accumulated depreciation	(26,285)	(28,353)
Property and equipment, net	2,884	3,542
Laboratory equipment
Property and equipment, net
Total property and equipment	19,094	21,558
Leasehold improvements
Property and equipment, net
Total property and equipment	8,403	8,403
Computer equipment
Property and equipment, net
Total property and equipment	1,161	1,399
Furniture and office equipment
Property and equipment, net
Total property and equipment	191	191
Software
Property and equipment, net
Total property and equipment	$ 320	$ 344

Net Loss per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Net Loss per Share

Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock and potentially dilutive securities outstanding for the period determined using the treasury stock and if converted methods. Contingently issuable shares are included in the calculation of basic loss per share as of the beginning of the period in which all the necessary conditions have been satisfied. Contingently issuable shares are included in diluted loss per share based on the number of shares, if any, that would be issuable under the terms of the arrangement if the end of the reporting period was the end of the contingency period, if the results are dilutive.

For purposes of the diluted net loss per share calculation, unvested restricted stock unit awards and outstanding stock options are considered to be common stock equivalents, but they were excluded from the Company’s calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive. Therefore, basic and diluted net loss per share applicable to common stockholders were the same for all periods presented.

The following common stock equivalents were excluded from the calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive:


	March 31,
	2026	2025
Unvested restricted stock unit awards	493,689	1,499,103
Outstanding stock options	12,624,535	11,253,667
Total	13,118,224	12,752,770

Stock-based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,102	$ 2,979
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	544	907
General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,558	$ 2,072

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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+ Details

Cash Equivalents

3 Months Ended

Mar. 31, 2026

Cash and Cash Equivalents [Abstract]

Cash Equivalents

Cash equivalents consisted of the following at March 31, 2026 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:


Money market funds	123,648		—		—		—		123,648


Total	$	123,648	$	—	$	—	$	—	$	123,648

Cash equivalents consisted of the following at December 31, 2025 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:

Money market funds	146,645		—		—		—		146,645



Total	$	146,645	$	—	$	—	$	—	$	146,645

There were no realized gains or losses on available-for-sale securities during the three months ended March 31, 2026 or 2025.

Debt

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Debt

Liability for the Sale of Future Revenues

On October 3, 2024, the Company entered into the DRI Agreement under which it sold, transferred, assigned, and conveyed to DRI certain future license fees and other payments (the “Purchased Receivables”) owed to the Company by Vertex under the terms of the Vertex License Agreement in exchange for an upfront cash payment by DRI to the Company of $57.0 million. Under the DRI Agreement, DRI is purchasing up to 100% of certain future fixed and sales-based annual license fees that the Company is entitled to receive under the Vertex License Agreement, which fees range from $5.0 million to $40.0 million per year, including increases based on sales. In addition, DRI is purchasing a mid-double-digit percentage of a $50.0 million contingent upfront payment that the Company may receive under the Vertex License Agreement. All amounts above will be adjusted to exclude payments that the Company owes to Broad and Harvard under the Cas9-I License Agreement, as defined in Note 7, Commitments and Contingencies. The Company has retained rights to certain portions of certain sales-based annual license fees and the contingent upfront payment that may become due under the Vertex License Agreement, and the amounts that correspond to its licensor obligations.

In accordance with Accounting Standards Codification (“ASC”) Topic 470, Borrower’s Accounting for Debt Modification, the Company has accounted for the transaction as debt. The gross proceeds of $57.0 million were recorded as a liability for the sale of future revenues, net of transaction costs of $1.8 million, which will be amortized over the estimated life of the arrangement using the effective interest method.

The Company estimates the effective interest rate used to record non-cash interest expense under the Purchase and Sale Agreement based on the estimate of future revenue payments to be made to DRI. As of March 31, 2026, the estimated effective interest rate under the agreement was 7.7%. Over the life of the arrangement, the actual effective interest rate will be affected by the amount and timing of the payments made to DRI and changes in the Company's revenue forecasts. At each reporting date, the Company will reassess its estimate of total future payments to be made to DRI, and prospectively adjust the effective interest rate and amortization of the liability as necessary.

The following table presents the changes in the liability related to the sale of future revenues under the Purchase and Sale Agreement with DRI as of March 31, 2026 (in thousands):


	March 31, 2026
Deferred royalty obligation related to the sale of future revenues, net as of December 31, 2025	$	58,605
Payments for sale of future revenues	(5,000)
Non-cash interest expense associated with sale of future revenues	1,009
Amortization of issuance costs	63
Deferred royalty obligation related to the sale of future revenues, net as of March 31, 2026	$	54,677

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Fair Value Measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Assets measured at fair value on a recurring basis as of March 31, 2026 were as follows (in thousands):


	March 31, 2026		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	123,648	$	123,648	$	—	$	—





Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	126,318	$	126,318	$	—	$	—

Assets measured at fair value on a recurring basis as of December 31, 2025 were as follows (in thousands):


	December 31, 2025		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	146,645	$	146,645	$	—	$	—





Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	149,315	$	149,315	$	—	$	—

The fair value of the Company’s liability for sale of future revenues approximates the amount recorded on the Company’s balance sheet as of March 31, 2026 and December 31, 2025, which represents a level 3 fair value measurement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-Topic 820
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 6A
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Cash Equivalents (Tables)

3 Months Ended

Mar. 31, 2026

Cash and Cash Equivalents [Abstract]

Schedule of Cash Equivalents and Marketable Securities

Cash equivalents consisted of the following at March 31, 2026 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:


Money market funds	123,648		—		—		—		123,648


Total	$	123,648	$	—	$	—	$	—	$	123,648

Cash equivalents consisted of the following at December 31, 2025 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:

Money market funds	146,645		—		—		—		146,645



Total	$	146,645	$	—	$	—	$	—	$	146,645

Collaboration Agreements - Schedule of Accounts Receivable and Contract Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Accounts receivable:
Accounts receivable, balance at beginning of period	$ 15,176
Accounts receivable, additions	3,007
Accounts receivable, deductions	(15,591)
Accounts receivable, balance at end of period	2,592
Contract liabilities:
Deferred revenue, balance at beginning of period	44,509
Deferred revenue, additions	0
Deferred revenue, deductions	0
Deferred revenue, balance at end of period	$ 44,509

Debt - Narrative (Details) - DRI Healthcare Acquisitions LP - License Agreement - USD ($) $ in Millions		3 Months Ended
	Oct. 03, 2024	Mar. 31, 2026
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from sale of future revenues	$ 57.0
Contingent upfront payment	50.0
Issuance costs	1.8
Liability for sale of future revenues, effective interest rate		7.70%
Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License fee receivable	5.0
Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License fee receivable	$ 40.0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flow from operating activities
Net loss	$ (24,982)	$ (76,088)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	2,102	2,979
Depreciation	483	1,917
Net amortization of premiums and discounts on marketable securities	0	(583)
Other non-cash items	111	492
Impairment of held for sale assets	0	3,724
Interest related to sale of future revenues	1,072	2,145
Changes in operating assets and liabilities:
Accounts receivable	12,584	15,756
Prepaid expenses and other current assets	248	70
Right-of-use assets	709	6,125
Other non-current assets	0	1,025
Accounts payable	1,727	(27)
Accrued expenses	(11,362)	1,693
Accrued interest on sale of future revenues	(5,000)	(2,128)
Deferred revenue	0	(4,221)
Operating lease liabilities	(805)	(3,899)
Other non-current liabilities	52	3,221
Net cash used in operating activities	(23,061)	(47,799)
Cash flow from investing activities
Purchases of property and equipment	(92)	(114)
Proceeds from the sale of equipment	156	0
Proceeds from maturities of marketable securities	0	56,501
Net cash provided by (used in) investing activities	64	56,387
Cash flow from financing activities
Repayment on sale of future revenues	0	(2,872)
Proceeds from issuance of common stock from at-the-market equity offering	0	1,435
Net cash used in financing activities	0	(1,437)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(22,997)	7,151
Cash, cash equivalents, and restricted cash, beginning of period	149,315	135,418
Cash, cash equivalents, and restricted cash, end of period	126,318	142,569
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]
Cash and cash equivalents, end of period	123,648	138,692
Restricted cash	2,670	3,877
Cash, cash equivalents, and restricted cash, end of period	126,318	142,569
Supplemental disclosure of cash and non-cash activities:
Cash paid for interest	5,000	2,128
Cash paid in connection with operating lease liabilities	2,004	5,406
Remeasurement of operating lease liabilities and right-of-use assets due to lease modification	$ 793	$ 766

Stock-based Compensation - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,102,000	$ 2,979,000
Performance Shares \| Share-Based Payment Arrangement, Employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issued (in shares)	0
Total stock-based compensation expense	$ 0
Unvested restricted stock unit awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issued (in shares)	0
Unrecognized stock-based compensation expense	$ 2,100,000
Period for recognition	1 year 4 months 2 days
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 15,800,000
Period for recognition	3 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is a party to a number of license agreements under which the Company licenses patents, patent applications and other intellectual property from third parties. As such, the Company is obligated to pay licensors for various costs including upfront license fees, annual license fees, certain licensor expense reimbursements, success payments, research funding payments, and milestones triggerable upon certain development, regulatory, and commercial events as well as royalties on future product sales. These contracts are generally cancellable, with notice, at the Company’s option and do not have significant cancellation penalties. The terms and conditions as well as the accounting analysis for the Company’s significant commitments and contingencies are described in Note 8, “Commitments and Contingencies” to the consolidated financial statements included in the Annual Report. There have been no material changes to the terms and conditions, or the accounting conclusions, previously disclosed in the Annual Report. The Company is not currently subject to any material contingencies that require disclosure. Licensor Expense Reimbursement The Company is obligated to reimburse The Broad Institute, Inc. (“Broad”) and the President and Fellows of Harvard College (“Harvard”) for expenses incurred by each of them associated with the prosecution and maintenance of the patent rights that the Company licenses from them pursuant to the Amended and Restated Cas9-I License Agreement by and among the Company, Broad, and Harvard (“the Cas9-I License Agreement”), including the interference and opposition proceedings involving patents licensed to the Company under the license agreement, and other license agreements between the Company and Broad. The Company incurred an aggregate of $2.3 million and $1.9 million in expense during the three months ended March 31, 2026, and March 31, 2025, respectively, for such reimbursement. Lease Termination In 2023, the Company entered into a license and service agreement pursuant to which it leased manufacturing space for its continued research and development activities. The lease commenced April 1, 2024. In September 2024, the Company entered into a modification of the lease, and as a result of the modification the lease payments decreased and the notification period for the termination of the license and service agreement increased from 12 months’ prior written notice to 18 months’ prior written notice. In January 2025, the Company gave its termination notice on the license and service agreement, which resulted in the end of the term of the agreement being July 2026, and $8.9 million of remaining payments owed. In April 2025, the Company entered into a further modification to the lease providing that the lease would terminate on April 30, 2025 with a final fixed payment of $3.7 million.

Net Loss per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Anti-Dilutive Common Stock Equivalents

The following common stock equivalents were excluded from the calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive:


	March 31,
	2026	2025
Unvested restricted stock unit awards	493,689	1,499,103
Outstanding stock options	12,624,535	11,253,667
Total	13,118,224	12,752,770

Segments - Narrative (Details)	3 Months Ended
Segments - Narrative (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

Segments (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table contains additional information on our consolidated revenue and net loss, including significant segment expenses (in thousands):


	Three Months Ended March 31,
	2026		2025
Collaboration and other research and development revenues	$	2,831	$	4,658
Operating expenses:
Research and development1
Employee related expenses	5,419		14,167
External research and development expenses	3,504		35,355
Facility expenses	3,224		9,393
Stock-based compensation expenses	544		907
Sublicense and license fees	2,411		17
Other expenses3	2,498		5,997
General and administrative2
Employee related expenses	2,109		5,105
Professional service expenses	1,588		2,439
Intellectual property and patent related fees	3,405		2,546
Stock-based compensation expenses	1,558		2,072
Facility and other expenses4	1,574		2,823



Interest expense related to sale of future revenues	(1,072)		(2,216)
Interest income, net	1,206		2,716
Other expense, net	(113)		(425)

Net loss	$	(24,982)	$	(76,088)

1 For the three months ended March 31, 2026, research and development includes no restructuring and impairment charges. For the three months ended March 31, 2025, research and development includes $39,243 of restructuring and impairment charges.
2 For the three months ended March 31, 2026, general and administrative includes no restructuring and impairment charges. For the three months ended March 31, 2025, general and administrative includes $1,610 of restructuring and impairment charges.
3 Other expenses primarily consists of impairment charges, consultant fees, and office expenses.
4 Facility and other expenses primarily consists of rent expense, insurance premiums, depreciation expense, software licenses, and office expenses.

Nature of Business (Details) - USD ($) $ in Thousands	3 Months Ended
Nature of Business (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	May 31, 2021
Liquidity
Aggregate net proceeds	$ 1,100,000
Cash, cash equivalents and marketable securities	123,600
Gross proceeds	0	$ 1,435
Accumulated deficit	$ 1,653,485		$ 1,628,503
At The Market Offering
Liquidity
Sales agreement amount of aggregate sale proceeds of common stock agreed to be issued		$ 150,000		$ 300,000
Number of common stock issued (in shares)	14,327,365
Gross proceeds	$ 43,900
Sales agreement, amount of aggregate sale proceeds of common stock available	$ 106,100

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance, beginning of period (in shares) at Dec. 31, 2024		82,734,696
Balance, beginning of period at Dec. 31, 2024	$ 134,274	$ 8	$ 1,602,441	$ 268	$ (1,468,443)
Statement of Stockholders' Equity (Deficit)
Issuance of common stock from at the market equity offering, net (in shares)		706,236
Issuance of common stock from at-the-market equity offering, net	1,435		1,435
Vesting of restricted common stock awards (in shares)		268,604
Stock-based compensation expense	2,979		2,979
Unrealized (loss) gain on marketable debt securities	(180)			(180)
Net loss	(76,088)				(76,088)
Balance, end of period (in shares) at Mar. 31, 2025		83,709,536
Balance, end of period at Mar. 31, 2025	62,420	$ 8	1,606,855	88	(1,544,531)
Balance, beginning of period (in shares) at Dec. 31, 2025		97,866,996
Balance, beginning of period at Dec. 31, 2025	27,288	$ 10	1,655,781	0	(1,628,503)
Statement of Stockholders' Equity (Deficit)
Vesting of restricted common stock awards (in shares)		34,038
Stock-based compensation expense	2,102		2,102
Unrealized (loss) gain on marketable debt securities	0
Net loss	(24,982)				(24,982)
Balance, end of period (in shares) at Mar. 31, 2026		97,901,034
Balance, end of period at Mar. 31, 2026	$ 4,408	$ 10	$ 1,657,883	$ 0	$ (1,653,485)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Statement of Cash Flows [Abstract]
Restricted cash	$ 2,670	$ 3,877

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	390,000,000	390,000,000
Common stock, shares issued (in shares)	97,901,034	97,901,034
Common stock, shares outstanding (in shares)	97,866,996	97,866,996

Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2026

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
External research and development expenses	$	6,799	$	9,672
Employee related expenses	2,780		5,220
Sublicense and license fees	2,401		5,501
Intellectual property and patent related fees	1,788		2,105
Professional service expenses	332		232
Employee termination benefits	594		1,555
Restructuring contract costs	6,094		7,769
Other expenses	460		556
Total accrued expenses	$	21,248	$	32,610

Nature of Business	3 Months Ended
Nature of Business	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Editas Medicine, Inc. (the “Company”) is a pioneering gene editing company dedicated to developing transformative genomic medicines to treat a broad range of serious diseases. The Company was incorporated in the state of Delaware in September 2013. Its principal offices are in Cambridge, Massachusetts. Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, and raising capital. The Company has primarily financed its operations through various equity financings, payments received under a research collaboration with the Bristol-Myers Squibb Company (“BMS”), through its wholly owned subsidiary Juno Therapeutics, Inc. (“Juno Therapeutics”), payments received under its former strategic alliance with Allergan Pharmaceuticals International Limited (together with its affiliates, “Allergan”), which was terminated in August 2020, payments received under a purchase and sale agreement with DRI Healthcare Acquisitions LP (“DRI,” and such agreement, the “DRI Agreement”), and payments received under the Company’s license agreement with Vertex Pharmaceuticals, Inc, (“Vertex”, and such agreement, the “Vertex License Agreement”). The Company is subject to risks common to companies in the biotechnology industry, including but not limited to, risks of failure of preclinical studies and clinical trials, the need to obtain marketing approval for any drug product candidate that it may identify and develop, the need to successfully commercialize and gain market acceptance of its product candidates, dependence on key personnel, protection of proprietary technology, compliance with government regulations, development by competitors of technological innovations and ability to transition from pilot-scale manufacturing to large-scale production of products. Liquidity As of March 31, 2026, the Company has raised an aggregate of $1.1 billion in net proceeds through the sale of shares of its common stock in public offerings and at-the-market offerings. The Company also has funded its business from payments received under its DRI Agreement, under the Vertex License Agreement, under the collaboration with BMS through its wholly owned subsidiary Juno Therapeutics and its former strategic alliance with Allergan (which was terminated in August 2020). As of March 31, 2026, the Company had cash and cash equivalents of $123.6 million. In May 2021, the Company entered into a common stock sales agreement with TD Securities (USA) LLC (as successor to Cowen and Company, LLC) (“TD Cowen”), under which the Company from time to time can issue and sell shares of the Company’s common stock through TD Cowen in at-the-market offerings for aggregate gross sale proceeds of up to $300.0 million. The Company amended the common stock sales agreement with TD Cowen in February 2024 in connection with filing a new registration statement. In March 2025, the Company further amended its common stock sales agreement with TD Cowen in connection with amending its existing shelf registration statement following the loss of the Company’s status as a “well-known seasoned issuer” (as defined under Rule 405 of the Securities Act of 1933, as amended), reducing the amount of shares of common stock the Company may issue and sell through TD Cowen to aggregate gross sale proceeds of up to $150.0 million (the “ATM Facility”). As of March 31, 2026, the Company has sold 14,327,365 shares of common stock under the ATM Facility for gross proceeds of $43.9 million and has $106.1 million of shares of common stock remaining available for issuance and sale under the ATM Facility. The Company has incurred annual net operating losses in every year since its inception. As of May 5, 2026, the issuance date of the condensed consolidated financial statements, the Company expects that its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next twelve months. The Company had an accumulated deficit of $1.7 billion at March 31, 2026, and will require substantial additional capital to fund its operations. The Company has never generated any product revenue. There can be no assurance that the Company will be able to obtain additional debt or equity financings or generate product revenue or revenues from collaborative partners, on terms acceptable to the Company, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations, and financial condition.

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Collaboration and other research and development revenues	$ 2,831	$ 4,658
Operating expenses:
Research and development	17,600	26,593
General and administrative	10,234	13,375
Restructuring and impairment charges	0	40,853
Total operating expenses	27,834	80,821
Operating loss	(25,003)	(76,163)
Other income, net:
Interest expense related to sale of future revenues	(1,072)	(2,216)
Interest income, net	1,206	2,716
Other expense, net	(113)	(425)
Total other income, net	21	75
Net loss	$ (24,982)	$ (76,088)
Net loss per share, basic (in dollars per share)	$ (0.26)	$ (0.92)
Net loss per share, diluted (in dollars per share)	$ (0.26)	$ (0.92)
Weighted-average common shares outstanding, basic (in shares)	97,879,343	83,055,066
Weighted-average common shares outstanding, diluted (in shares)	97,879,343	83,055,066

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	Apr. 29, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-37687
Entity Registrant Name	EDITAS MEDICINE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4097528
Entity Address, Address Line One	11 Hurley Street
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	617
Local Phone Number	401-9000
Title of 12(b) Security	Common Stock
Trading Symbol	EDIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		97,906,282
Entity Central Index Key	0001650664
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Amendment flag	false

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	3 Months Ended
Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Debt Instrument [Roll Forward]
Payments for sale of future revenues	$ 0	$ (2,872)
DRI Healthcare Acquisitions LP \| License Agreement
Debt Instrument [Roll Forward]
Deferred royalty obligation related to the sale of future revenues, net as of December 31, 2025	58,605
Payments for sale of future revenues	(5,000)
Non-cash interest expense associated with sale of future revenues	1,009
Amortization of issuance costs	63
Deferred royalty obligation related to the sale of future revenues, net as of March 31, 2026	$ 54,677

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

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