Beam Therapeutics (BEAM) Announces Acquisition of an Early-Stage Life Sciences Company

Beam Therapeutics Inc. (NASDAQ:BEAM) is one of the best oversold NASDAQ stocks to buy now. On July 1, Beam Therapeutics Inc. (NASDAQ:BEAM) announced an Agreement and Plan of Merger under which it acquired an early-stage life sciences company.

Is Beam Therapeutics Inc. (BEAM) the Best Gene-Editing Stock to Buy?

A patient undergoing MRI scanning to effectively diagnose Liver Diseases.

Beam Therapeutics Inc. (NASDAQ:BEAM) agreed to issue 403,128 shares of its common stock as an upfront payment, along with additional milestone payments of up to $89 million upon the attainment of certain clinical, development, and commercial milestones.

Management expects the strategic acquisition to boost the company’s market position and capabilities, potentially affecting its operations.

Beam Therapeutics Inc. (NASDAQ:BEAM) is a biotechnology company that develops precision genetic medicines through base editing, a technology that allows efficient and predictable single-base changes at targeted genomic sequences. The company’s lead programs focus on sickle cell disease and alpha-1 antitrypsin deficiency.

Beam Therapeutics Inc. (NASDAQ:BEAM) is advancing programs in other genetic diseases as well, along with oncology and immunology. Its primary programs include BEAM-101, Engineered Stem Cell Antibody Paired Evasion (ESCAPE), BEAM-302, BEAM-301, and BEAM-201.

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Disclosure: None. This article is originally published at Insider Monkey.