Beam (BEAM) a recent unusual buy of 750 August $30 calls alerted that remain in open interest up 17.5%, and one I made a note to take a closer look. BEAM will not report until late February and is a name with 13.6% of its float short. BEAM has traded sideways for two years with $22 major support.

BEAM is a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases with BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.

BEAM has a $2.27B market cap and trades 6.5X Sales and 2.5X Cash with revenues seen rising 14.55% in FY25, a name still very far from profitability. BEAM has cash runway into 2027. BEAM-302 in alpha-1 antitrypsin deficiency is an upcoming readout with Cantor seeing potential 40% upside on positive data. Bernstein mentioned the data could have 50-100% upside for shares.