Beam Therapeutics Nets Over $250M from BMS Acquisition of Orbital Stake

The company plans to update its financial runway in January, factoring in proceeds from the deal.

December 12, 2025

Beam Converts Orbital Stake Into Over $250 Million in Cash

Beam Therapeutics has turned its stake in Orbital Therapeutics into a major liquidity event. On December 8, Bristol-Myers Squibb completed its acquisition of Orbital, triggering a payout of $255.1 million in cash to Beam. The deal also gives Beam the right to receive up to $26.3 million in additional payments if certain escrow conditions are met.

Beam held 75 million shares of Orbital, representing about 17% of the company’s fully diluted equity. With the deal now closed, those shares have been canceled and converted into cash. The immediate cash proceeds are already on the books, and the remainder will depend on how the escrow terms play out.

Runway Update Coming in January

Next up: Beam plans to revisit its cash runway. The company will provide updated guidance in January at the 2026 J.P. Morgan Healthcare Conference. That update will reflect the impact of this deal on its long-term planning—especially important as Beam continues to build out its pipeline and advance clinical programs.

Positioning for Flexibility and Growth

This capital boost gives Beam more room to move. Whether the company chooses to extend R&D timelines, increase operational flexibility, or strengthen its balance sheet, the added cash puts it in a stronger position heading into 2026.

The company also issued a standard reminder that any projections about its future plans are subject to change, depending on market dynamics and other risks. Investors should expect more clarity during the J.P. Morgan event, when Beam will have the opportunity to share how this deal fits into its broader strategy.

With this transaction complete, Beam can shift its focus to the year ahead—starting with a clear update on how it plans to put this capital to work.