Jim Cramer on Beam Therapeutics: "That's the Speculative Bottom There"

Beam Therapeutics Inc. (NASDAQ:BEAM) is one of the stocks that Jim Cramer expressed thoughts on. Responding to an investing club member’s query about the stock, Cramer commented:

“Man, you are really, that’s the speculative bottom there. I’m sorry. I would like to be more positive about that, but that one, I can’t go with. I’m sorry.”

Beam Therapeutics Inc. (NASDAQ:BEAM) develops precision genetic medicines using base editing technology to treat serious diseases such as sickle cell and liver disorders. Moreover, on August 14, the company announced that the FDA granted Regenerative Medicine Advanced Therapy designation to its investigational gene-edited cell therapy for sickle cell disease BEAM-101, after an earlier orphan drug designation. The company noted that 30 patients have been treated in the BEACON Phase 1/2 trial, and the data showed strong increases in fetal hemoglobin, reduced sickle hemoglobin, and no vaso-occlusive crises after engraftment. Beam Therapeutics Inc.’s (NASDAQ:BEAM) President, Giuseppe Ciaramella said:

“These designations not only recognize the promise of BEAM-101 but also enable enhanced collaboration with the FDA as we advance toward a BLA filing. With 30 patients now dosed in the BEACON Phase 1/2 trial and additional data expected later this year, we remain focused on delivering a transformative treatment to people living with sickle cell disease.”

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