Shares of Beam Therapeutics (NASDAQ: BEAM), a clinical-stage base-editing company, are under heavy pressure today. Specifically, the company's stock is down by a noteworthy 12% on higher-than-normal volume as of 10:36 a.m. ET Monday morning. 

What's causing investors to hit the exits this morning? As part of its third-quarter earnings release earlier today, Beam announced that it will not file an investigational new drug application for the next-generation sickle cell disease (SCD) candidate BEAM-102 in 2022. The treatment is a base-editing program designed to correct the point mutation that causes sickling in red blood cells.

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Source Fool.com