TRDA Stock — Entrada Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company aiming to transform the lives of patients by e stablishing a new class of medicines that engage intracellular targets that have long been considered inaccessible . Through proprietary, versatile and modular approaches, we are advancing a robust development portfolio of genetic medicines for the potential treatment of neuromuscular and inherited retinal diseases, among others.

Source: 10-K FY2025 via SEC EDGAR

Share price

$5.17

Market cap

$202.2M

Cash

$112.1M

Enterprise value

$90.1M

Balance sheet

Cash	$112.1M
Debt	$0.0M
Net cash	$112.1M
Enterprise value	$90.1M
Basic shares	39.1M shares
Fully diluted shares	48.8M shares
Fully diluted market cap	$252.3M
Cash per share	$2.86
Quarterly burn	$32.5M
Cash runway	3.5 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-10.

Share structure

Common

38.9M

Pre-funded warrants

0.0M

Options

6.8M

RSUs

3.1M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

48.8M

Cap table as of 2026-06-30.

Price history

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Next catalyst

VX-670 (Vertex Pharmaceuticals) · Est. Nov 11, 2026 · half midpoint · guided Now

Recently reported

ENTR-601-45 Phase 1/2 Positive · 2026-10-14

ELEVATE-45-201 · Duchenne muscular dystrophy amenable to exon 45 skipping

Primary: Safety and tolerability of ENTR-601-45 in Cohort 1 of the MAD portion (three doses of 5 mg/kg) — Primary objectives met: favorable safety and tolerability at 5 mg/kg

· Mean dystrophin increase 0.10% from baseline in treated participants (n=6, nominal p=0.03) vs 0.02% mean decrease on placebo

· Mean exon skipping increase 0.15% from baseline (n=5, no p-value calculated) vs 0.04% mean decrease on placebo

· Cohort 1 enrolled 8 participants randomized 3:1, ambulatory, ages 4 to 20, exon 45 skipping amenable

· No functional benefit expected or observed after three doses at this age and baseline function

· Cohort 2 enrollment complete at 10 mg/kg, data expected in the first half of 2027; Cohort 3 up to 15 mg/kg to follow

· All Cohort 1 participants progressed to the open-label Phase 2 portion (six doses of 5 mg/kg)

Safety: Headache was the most common TEAE (5 events in 2 participants); one participant had 2 serious TEAEs (vomiting and pyrexia) that resolved; no discontinuations, no hypomagnesemia or renal safety concerns

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 11, 2026 Now half midpoint	VX-670 (Vertex Pharmaceuticals) GALILEO Phase 1/2 in myotonic dystrophy type 1 (partner-controlled; Vertex)	Phase 1/2	myotonic dystrophy type 1 (partner-controlled	2H 2026
GUIDEDDec 1-31 in 20d	ENTR-601-44 ELEVATE-44-201 Phase 1/2 in Duchenne muscular dystrophy, Cohort 1 (6 mg/kg) open-label period	Phase 1/2	Duchenne muscular dystrophy	by year-end 2026
GUIDEDEst. Feb 14, 2027 in 7 wks quarter midpoint	ENTR-601-44 ELEVATE-44-201 Phase 1/2 in Duchenne muscular dystrophy, Cohort 2 MAD (12 mg/kg)	Phase 1/2	Duchenne muscular dystrophy	Q1 2027
GUIDEDEst. Apr 1, 2027 in 7 wks half midpoint	ENTR-601-45 ELEVATE-45-201 Phase 1/2 in Duchenne muscular dystrophy, Cohort 2 MAD (10 mg/kg)	Phase 1/2	Duchenne muscular dystrophy	1H 2027
Apr 12 - May 24 in 29 mo	ENTR-601-45	Phase 2	Duchenne Muscular Dystrophy (DMD)	October 2026
May 9 - Jun 20 in 30 mo	ENTR-601-44	Phase 2	Duchenne Muscular Dystrophy (DMD)	October 2026
Apr 12 - May 24 in 66 mo	ENTR-601-44	Phase 2	Duchenne Muscular Dystrophy (DMD)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

ENTR-601-44

Phase 1 · Active Modality: EEV-conjugated PMO (endosomal escape vehicle)

Target DMD

Indications

Duchenne muscular dystrophy (exon 44 amenable) (Phase 1)

Catalysts

— End 2026
— Q1 2027

Status note Global Phase 1/2 ELEVATE-44-201: Cohort 1 (6 mg/kg) completed; Cohort 2 (12 mg/kg) fully enrolled; Cohort 3 (up to 18 mg/kg) to follow if needed; expansion cohort planned to support potential US accelerated approval. FDA Rare Pediatric Disease Designation.

ENTR-601-45

Phase 1 · Active Modality: EEV-conjugated PMO (endosomal escape vehicle)

Target DMD

Indications

Duchenne muscular dystrophy (exon 45 amenable) (Phase 1)

Catalysts

— October 2026
— H1 2027

Status note Global Phase 1/2 ELEVATE-45-201: Cohort 1 dosing complete; Cohort 2 dosing ongoing.

VX-670

Phase 1 · Active Modality: EEV-based genetic medicine

Target CUG repeats

Partnerships Vertex: global research collaboration; Vertex running GALILEO Phase 1/2 clinical trial

Indications

Myotonic dystrophy type 1 (Phase 1)

Catalysts

— H2 2026

Status note GALILEO global Phase 1/2 completed enrollment and continues dosing in MAD portion; assessing safety, splicing index, and muscle function/strength.

ENTR-601-50

Stage not disclosed · Active Modality: EEV-conjugated PMO (endosomal escape vehicle)

Target DMD

Indications

Duchenne muscular dystrophy (exon 50 amenable) (Stage not disclosed)

Status note Regulatory applications to be submitted following review of data from lead programs; timeline guidance pending.

ENTR-601-51

Preclinical · Active Modality: EEV-conjugated PMO (endosomal escape vehicle)

Target DMD

Indications

Duchenne muscular dystrophy (exon 51 amenable) (Stage not disclosed)

Status note IND-enabling studies completed; regulatory application not yet filed.

ENTR-801

Preclinical · Active Modality: oligonucleotide

Target USH2A

Indications

Usher syndrome type 2A (exon 13 amenable) (Preclinical)

Status note First ocular clinical candidate (announced December 2025), designed to restore functional usherin protein. Second ocular candidate expected to be announced H2 2026.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	ENTR-601-45
Lead indication	Duchenne Muscular Dystrophy (DMD)
Lead phase	Phase 2
Active trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07038824	Phase 2	Recruiting	Sponsor	TRDA	—	Duchenne Muscular Dystrophy (DMD)	by year-end 2026 Q1 2027 Est. Mar 31, 2027 · PCD + 6 wks (Mar 31-Mar 31)
NCT07037862	Phase 2	Recruiting	Sponsor	TRDA	—	Duchenne Muscular Dystrophy (DMD)	by year-end 2026 Q1 2027 Est. Mar 31, 2027 · PCD + 6 wks (Mar 31-Mar 31)
NCT07682129	Phase 2	Not yet recruiting	Sponsor	TRDA	—	Duchenne Muscular Dystrophy (DMD)	—

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Entrada Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Baker Bros. Advisors	5,072,730	no change	0.19%	2026-08-14
ADAR1 Capital Management	15,500	-15,000	0.01%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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TRDA — Entrada Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

TRDA — Entrada Therapeutics Inc.