What changed in this filing

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Item 1. Financial Statements

2026-08-06 compared with 2026-05-07 · 88 added, 36 removed, 258 unchanged (32% of the section changed)

7 unchanged sentences

Prepaid expenses and other assets

Current assets held for sale

Total current assets

7 unchanged sentences

Operating lease liability, current portion

Current liabilities held for sale

Total current liabilities

4 unchanged sentences

Preferred stock, $ .0001 par value per share;

200,000,000 shares authorized and no shares issued or outstanding as of March 31, 2026 and December 31, 2025

200,000,000 shares authorized and no shares issued or outstanding as of June 30, 2026 and December 31, 2025

Common stock, $ .0001 par value per share;

1,000,000,000 shares authorized as of March 31, 2026 and December 31, 2025;

107,481,522 shares and 106,249,579 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively

1,000,000,000 shares authorized as of June 30, 2026 and December 31, 2025;

107,776,380 shares and 106,249,579 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively

Additional paid-in capital

7 unchanged sentences

(In thousands, except share and per share data)

Three months ended March 31,

Three months ended June 30,

Six months ended June 30,

Operating expenses

22 unchanged sentences

Balance as of March 31, 2025

Issuance of common stock, net of offering costs

Exercise of stock options and vesting of restricted stock units

Purchase of common stock under Employee Stock Purchase Plan

Stock-based compensation

Other comprehensive loss

Balance as of June 30, 2025

Other Comprehensive

2 unchanged sentences

Balance as of December 31, 2025

Exercise of stock options and vesting of restricted stock

Exercise of stock options and vesting of restricted stock units

Stock-based compensation

1 unchanged sentence

Balance as of March 31, 2026

Exercise of stock options and vesting of restricted stock units

Purchase of common stock under Employee Stock Purchase Plan

Stock-based compensation

Other comprehensive loss

Balance as of June 30, 2026

The accompanying notes are an integral part of these condensed financial statements.

2 unchanged sentences

(In thousands)

Three months ended March 31,

Six months ended June 30,

Cash flows from operating activities

15 unchanged sentences

Purchases of property and equipment

Net cash provided by investing activities

Net cash provided by (used in) investing activities

Cash flows from financing activities

Proceeds from issuance of common stock, net of offering costs

Exercise of stock options

Payment of deferred offering costs

Proceeds from Employee Stock Purchase Plan

Net cash provided by financing activities

3 unchanged sentences

Supplemental disclosures of non-cash investing and financing activities:

Property and equipment purchases included in accounts payable and accrued other expenses

Deferred offering costs included in accounts payable and accrued other expenses

Property and equipment purchases included in accounts payable

The accompanying notes are an integral part of these condensed financial statements.

4 unchanged sentences

Edgewise Therapeutics, Inc.

(the Company) was incorporated as a Delaware corporation in May 2017, and is headquartered in Boulder, Colorado.

The Company is a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for severe muscle diseases for which there is significant unmet medical need.

The Company’s lead product candidates are sevasemten and EDG-7500:

sevasemten is a selective, fast myofiber (type II) myosin small molecule inhibitor designed to address contraction-induced muscle injury currently being studied in multiple Phase 2 trials in Becker muscular dystrophy (Becker) and Duchenne muscular dystrophy (Duchenne), which are being held in the U.S., Israel, and certain countries in Europe and Australasia, and EDG-7500 is a novel, oral, selective, cardiac sarcomere modulator, specifically designed to slow early contraction velocity and address impaired cardiac relaxation associated with hypertrophic cardiomyopathy (HCM) and other diseases of diastolic dysfunction currently being studied in a multipart Phase 2 trial for the potential treatment of obstructive and nonobstructive HCM.

The Company is also developing EDG-15400, currently in a Phase 1 trial of healthy adults with the future disease target of heart failure with preserved ejection fraction (HFpEF), and using its proprietary drug discovery platform to develop a pipeline of precision medicine product candidates that target key muscle proteins and modulators to address a broad array of serious muscle disorders.

(the Company) is a late-stage clinical biopharmaceutical company focused on advancing therapies for people living with for serious cardiovascular diseases.

The Company’s pipeline includes EDG-7500, a novel, oral, selective, cardiac sarcomere modulator, in development for the treatment of hypertrophic cardiomyopathy (HCM), including both obstructive HCM (oHCM) and nonobstructive HCM (nHCM).

The Company is also advancing EDG-15400, an oral next-generation cardiac sarcomere modulator in clinical development for the treatment of heart failure with preserved ejection fraction (HFpEF).

In addition, the Company is leveraging its precision medicine platform to advance additional research programs focused on genetically defined cardiovascular and cardiometabolic diseases.

On May 31, 2026, the Company entered into an Asset Purchase Agreement (Sevasemten Purchase Agreement) with Servier Pharmaceuticals LLC and Les Laboratoires Servier (Servier) for the sale of the sevasemten muscular dystrophy program, including certain related assets, intellectual property, know-how, select employees, contracts, regulatory filings and clinical data, and assumed certain related liabilities (Sevasemten Sale).

As a result, the related disposal group was classified as held for sale as of June 30, 2026, and the Sevasemten Sale closed on July 10, 2026.

Following completion of the Sevasemten Sale, the Company is focused on advancing its cardiovascular pipeline and related research and development activities.

Risks and Uncertainties

3 unchanged sentences

Liquidity and Capital Resources

The Company has an accumulated deficit of $ 595.4 million and cash, cash equivalents and marketable securities of $ 499.6 million as of March 31, 2026.

The Company has an accumulated deficit of $ 652.7 million and cash, cash equivalents and marketable securities of $ 460.7 million as of June 30, 2026.

The Company’s ability to fund ongoing operations is highly dependent upon raising additional capital through the issuance of equity securities and issuing debt or other financing vehicles.

4 unchanged sentences

The aggregate gross proceeds from the April 2025 Offering were $ 200.0 million, and the net proceeds were $ 187.1 million, after deducting underwriting discounts and commissions of $ 12.0 million and offering expenses of $ 0.9 million.

As a subsequent event, on July 10, 2026, the Company completed the Sevasemten Sale receiving $ 1,550 million in upfront cash proceeds and is eligible to receive up to $ 1,100 million in potential future milestone payments, including (a) a potential milestone payment upon achieving U.S.

marketing approval for sevasemten for

Becker muscular dystrophy in the amount of (i) $ 200 million, in cash, payable in the event of an approved labelling including specified adult and adolescent populations or (ii) $ 100 million in cash, payable in the event of an approved labelling including only specified adult populations (if (i) has not previously been achieved);

(b) a potential milestone payment of $ 600 million in cash, payable upon the achievement of U.S.

marketing approval for sevasemten for Duchenne muscular dystrophy;

and (c) a potential milestone payment of $ 300 million in cash, payable upon the achievement of annual U.S.

net sales of sevasemten products exceeding $ 550 million.

Together, the upfront cash proceeds and potential future milestone payments constitute aggregate potential consideration of up to $ 2,650 million.

The Company’s ability to secure capital is dependent upon success in developing its technology and product candidates.

4 unchanged sentences

The financial statements do not reflect any adjustments relating to the recoverability and reclassification of assets and liabilities that might be necessary if the Company is unable to continue as a going concern.

The Company believes that the $ 499.6 million of cash, cash equivalents and marketable securities on hand as of March 31, 2026 will be sufficient to fund its operations in the normal course of business and meet its liquidity needs through at least the next 12 months from the issuance of these financial statements.

The Company believes that the $ 460.7 million of cash, cash equivalents and marketable securities on hand as of June 30, 2026 and the $ 1,550 million in proceeds from the Sevasemten Sale received on July 10, 2026 will be sufficient to fund its operations in the normal course of business and meet its liquidity needs through at least the next 12 months from the issuance of these financial statements.

NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 unchanged sentences

The amortized cost of securities is adjusted for amortization of premiums and accretion of discounts to maturity.

In accordance with the Company’s investment policy, management invests in money market funds, corporate debt securities, commercial paper, asset-backed securities and government securities.

In accordance with the Company’s investment policy, management invests in money market funds, corporate debt securities, commercial paper, asset-backed securities and government

The Company has not experienced any realized losses on its deposits of cash, cash equivalents, and marketable securities since inception.

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

As of March 31, 2026

As of June 30, 2026

Cash equivalents:

20 unchanged sentences

There were no transfers of financial assets between Level 1, Level 2, or Level 3, during the periods presented.

As of March 31, 2026, the remaining contractual maturities of $ 439.1 million of marketable securities were less than one year and $ 27.5 million of marketable securities were between 1 and 2 years .

As of June 30, 2026, the remaining contractual maturities of $ 388.9 million of marketable securities were less than one year .

The Company periodically reviews its portfolio of debt securities to determine if any investment is impaired due to credit loss or other potential valuation concerns.

For debt securities where the fair value of the investment is less than the amortized cost basis, the Company has assessed at the individual security level for various quantitative factors including, but not limited to, the nature of the investments, changes in credit ratings, interest rate fluctuations, industry analyst reports, and the severity of impairment.

Unrealized losses on marketable securities at March 31, 2026 were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities.

Unrealized losses on marketable securities at June 30, 2026 were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities.

Accounting Standards Not Yet Adopted

1 unchanged sentence

Disaggregation of Income Statement Expenses .

This ASU is expected to improve the disclosures about a public business entity’s expenses and address

requests from investors for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, SG&A, and research and development).

This ASU is expected to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, SG&A, and research and development).

This ASU is effective beginning with the Company’s 2027 fiscal year annual reporting period and interim periods thereafter, with early adoption permitted.

8 unchanged sentences

The Company is authorized to issue two classes of stock designated as common stock and preferred stock.

As of March 31, 2026, the total number of shares authorized was 1,200,000,000 .

As of June 30, 2026, the total number of shares authorized was 1,200,000,000 .

The total number of shares of common stock authorized was 1,000,000,000 .

16 unchanged sentences

or (3) such other amount as the Company’s board of directors may determine.

As of March 31, 2026, there were 7,909,448 shares of common stock available for future issuance under the 2021 Plan.

As of June 30, 2026, there were 7,832,215 shares of common stock available for future issuance under the 2021 Plan.

Inducement Equity Incentive Plan

5 unchanged sentences

The fair value of each RSU is based on the closing price of the Company’s common stock on the date of grant and vests over 4 years .

As of March 31, 2026, there were 688,500 shares available for future issuance under the Inducement Plan.

As of June 30, 2026, there were 352,000 shares available for future issuance under the Inducement Plan.

Founder Stock Options

1 unchanged sentence

This grant is separate from the Company’s equity incentive plans discussed above.

As of March 31, 2026, 1,147,365 options were both outstanding and exercisable.

As of June 30, 2026, 1,147,365 options were both outstanding and exercisable.

2021 Employee Stock Purchase Plan

3 unchanged sentences

or (3) such other amount as the Company’s board of directors may determine.

As of March 31, 2026, there were 3,908,630 shares of common stock available for future issuance under the 2021 ESPP.

As of June 30, 2026, there were 3,848,431 shares of common stock available for future issuance under the 2021 ESPP.

The 2021 ESPP provides for two offering periods of approximately twelve months’ duration, with purchase periods commencing on the first trading day on or after May 15 and November 15 and terminating on the last trading day on or before November 15 of the same year and May 15 of the following year, respectively.

2 unchanged sentences

Total stock-based compensation expense related to all equity plans was allocated as follows (in thousands):

Three months ended March 31,

Three months ended June 30,

Six months ended June 30,

Research and development

4 unchanged sentences

From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business.

The Company was not subject to any material legal proceedings during the three months ended March 31, 2026 and no material legal proceedings are currently pending or threatened.

The Company was not subject to any material legal proceedings during the three and six months ended June 30, 2026 and no material legal proceedings are currently pending or threatened.

Indemnification Agreements

3 unchanged sentences

To date, the Company has not incurred any material costs as a result of such indemnifications.

The Company is not aware of any claims under indemnification arrangements, and it has not accrued any liabilities related to such obligations in its financial statements as of March 31, 2026.

The Company is not aware of any claims under indemnification arrangements, and it has not accrued any liabilities related to such obligations in its financial statements as of June 30, 2026.

NOTE 6 NET LOSS PER SHARE

6 unchanged sentences

The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share data):

Three Months Ended March 31,

Three months ended June 30,

Six Months Ended June 30,

Weighted-average shares outstanding used in computing net loss per share, basic and diluted

1 unchanged sentence

The following weighted average outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive:

Three Months Ended March 31,

Three months ended June 30,

Six Months Ended June 30,

Options to purchase common stock

2 unchanged sentences

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

As of March 31,

As of June 30,

As of December 31,

7 unchanged sentences

Property and equipment, net

Depreciation expense was $ 0.5 million for each of the three months ended March 31, 2026 and 2025.

Depreciation expense was $ 0.5 million and $ 1.1 million for the three and six months ended June 30, 2026 and $ 0.5 million and $ 1.0 million for the three and six months ended June 30, 2025.

NOTE 8 ACCRUED OTHER EXPENSES

Accrued other expenses consisted of the following amounts (in thousands):

As of March 31,

As of June 30,

As of December 31,

4 unchanged sentences

There have been no changes in the Company’s assessment of the basis of segmentation or in the basis of measurement of segment profit or loss since the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2026.

Three Months Ended March 31,

Three months ended June 30,

Six Months Ended June 30,

Operating expenses:

7 unchanged sentences

a Other segment expense included in Segment net loss includes contracted administrative expenses, intellectual property fees, software costs, occupancy & equipment costs, and other overhead expenses .

NOTE 10 ASSETS AND LIABILITIES HELD FOR SALE

On May 31, 2026, the Company entered into the Sevasemten Purchase Agreement with Servier, to sell the assets and transfer the liabilities comprising its sevasemten program (the Disposal Group) for (i) closing consideration of $ 1,550.0 million in cash and (ii) up to $ 1,100.0 million of additional contingent consideration payable upon the achievement of specified clinical, regulatory and commercial milestones for the sevasemten program.

The transaction was completed on July 10, 2026.

In connection with the closing of the Sevasemten Sale, the Company incurred fees payable to its financial advisor and legal counsel, of approximately $ 47.2 million in the aggregate.

These fees were contingent upon successful closing of the Sevasemten Sale and were not payable, and no liability existed, as of June 30, 2026.

Upon closing, these amounts became fixed and determinable obligations of the Company and will be recognized as a reduction of the gain on sale in connection with the disposal.

The assets and liabilities of the Disposal Group met the criteria for classification as held for sale under ASC 360-10-45-9 effective May 31, 2026, and have been presented as Current assets held for sale and Current liabilities held for sale in the accompanying unaudited condensed balance sheet as of June 30, 2026.

The comparative condensed balance sheet as of December 31, 2025 has not been reclassified.

The Disposal Group has been measured at the lower of its carrying amount or fair value less costs to sell.

Because the estimated fair value less costs to sell of the Disposal Group exceeds its carrying amount, no impairment loss was recognized upon its classification as held for sale for the three months ended June 30, 2026.

The Company expects to recognize a gain within Other income upon completion of the sale for the three months ended September 30, 2026.

The Disposal Group does not include property and equipment or other long-lived assets subject to depreciation or amortization.

The Disposal Group is reported within the Company's single operating and reportable segment.

For the three and six months ended June 30, 2026, the Disposal Group's pretax loss, recorded within operating expenses, was $ 21.5 million and $ 39.9 million, respectively.

As of June 30,

Assets held for sale:

Prepaid expenses and other assets

Total assets held for sale

Liabilities held for sale:

Accounts payable

Accrued other expenses

Total liabilities held for sale

The Company did not present the disposal group as discontinued operations because the disposition did not meet the applicable discontinued-operations criteria.

The sevasemten intellectual property, know-how, regulatory filings, clinical data and related contracts were internally generated and, as a result, related costs were expensed as incurred and no intangible asset was included in the disposal group.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements