Stock Option and Grant Plan

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

10. Stock option and grant plan

2019 equity incentive plan

As of September 30, 2025, the Company had 16,110,616 shares reserved including 1,807,487 shares available for future issuance, pursuant to the Beam Therapeutics Inc. 2019 Equity Incentive Plan.

Stock-based compensation expense recorded as research and development and general and administrative expenses in the condensed consolidated statements of operations and other comprehensive loss is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Research and development	$	13,840	$	18,371	$	44,405	$	54,819
General and administrative		8,907		11,188		29,391		35,625
Total stock-based compensation expense	$	22,747	$	29,559	$	73,796	$	90,444

Stock options

The following table provides a summary of stock option activity under the Company’s equity award plans:


	Number of options			Weighted average exercise price
Outstanding at December 31, 2024		9,605,542		$	38.62
Granted		2,672,384			24.45
Exercised		(213,235	)		13.53
Forfeited		(516,463	)		43.43
Outstanding at September 30, 2025		11,548,228			35.60
Exercisable as of September 30, 2025		7,058,137		$	40.61

The weighted-average grant date fair value per share of stock options granted in the nine months ended September 30, 2025 was $17.49. As of September 30, 2025, there was $84.2 million of unrecognized compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average remaining vesting period of approximately 2.5 years.

Restricted stock

The Company issues shares of restricted common stock, including both restricted stock units and restricted stock awards. Restricted common stock issued generally vests over a period of two to four years.

The following table summarizes the Company’s restricted stock activity:


	Shares			Weighted- average grant date fair value
Unvested as of December 31, 2024		2,576,855		$	36.98
Issued		1,289,927			19.47
Vested		(783,939	)		46.31
Forfeited		(300,958	)		25.00
Unvested as of September 30, 2025		2,781,885		$	27.53

At September 30, 2025, there was approximately $57.3 million of unrecognized stock-based compensation expense related to restricted stock that is expected to vest. These costs are expected to be recognized over a weighted-average remaining vesting period of approximately 2.5 years.

2019 employee stock purchase plan

The Company issued 174,708 and 135,187 shares under the Beam Therapeutics Inc. 2019 Employee Stock Purchase Plan, or ESPP, during the nine months ended September 30, 2025 and 2024, respectively. As of September 30, 2025, the Company had 3,590,328 shares available for issuance under the ESPP.

Stock-based compensation recognized under the ESPP for the three and nine months ended September 30, 2025 was $0.4 million and $1.2 million, respectively. The Company recognized stock-based compensation under the ESPP of $0.3 million and $1.0 million for the three and nine months ended September 30, 2024, respectively.