Form 8-K/A
8-K/A — Edgewise Therapeutics, Inc.
Accession: 0001104659-26-084088
Filed: 2026-07-16
Period: 2026-07-10
CIK: 0001710072
SIC: 2834 (PHARMACEUTICAL PREPARATIONS)
Item: Financial Statements and Exhibits
Documents
8-K/A — tm2620181d2_8ka.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (tm2620181d2_ex99-1.htm)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported):
July 10, 2026
Edgewise Therapeutics, Inc.
(Exact name of registrant as specified in its
charter)
Delaware
001-40236
82-1725586
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS
Employer
Identification No.)
1715
38th St.
Boulder,
CO 80301
(Address of principal executive offices) (Zip Code)
(720)
262-7002
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
¨
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading
Symbol(s)
Name
of each exchange on which registered
Common
Stock, $0.0001 par value per share
EWTX
The
Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Explanatory Note
On July 13,
2026, Edgewise Therapeutics, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Initial Report”)
with the Securities and Exchange Commission to report, among other things, the completion of the acquisition of the Company’s
sevasemten compound and certain other related assets collectively constituting the Company’s muscular dystrophy program by Servier
Pharmaceuticals LLC and Les Laboratoires Servier (together, the “Buyers”, and such transaction, the “Transaction”),
pursuant to the terms and conditions of the previously announced Asset Purchase Agreement by and among the Company and the Buyers.
This Current Report on Form 8-K/A is being filed solely to
amend the Initial Report to include the pro forma financial information required by Item 9.01(b) of Form 8-K. This Current Report
on Form 8-K/A should be read in conjunction with the Initial Report, which provides a more complete description of the Transaction.
Item 9.01 Financial Statements and Exhibits
(b) Pro forma financial information.
The unaudited pro forma condensed financial information required by
Item 9.01(b) of Form 8-K is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
(d) Exhibits:
Exhibit No.
Description
99.1
Unaudited pro forma condensed financial information
104
Cover Page Interactive Data File (embedded within the Inline XBRL documents)
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EDGEWISE THERAPEUTICS,
INC.
By:
/s/
Michael Nofi
Michael
Nofi
Chief
Financial Officer
Date: July 16, 2026
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2620181d2_ex99-1.htm · Sequence: 2
Exhibit 99.1
EDGEWISE THERAPEUTICS, INC.
UNAUDITED PRO
FORMA CONDENSED FINANCIAL INFORMATION
On May 31, 2026, Edgewise Therapeutics, Inc. (“Edgewise”
or the “Company”) entered into a definitive Asset Purchase Agreement (the “APA”) with Servier Pharmaceuticals
LLC and Les Laboratoires Servier (together, “Servier” or the “Buyers”), pursuant to which Servier acquired the
Company's sevasemten muscular dystrophy program, including the related intellectual property, know-how, select employees, contracts, regulatory
filings and clinical data (the “Transaction”). On July 10, 2026, the Company completed the Transaction. Following the
closing of the Transaction, Edgewise is a cardiovascular-focused company, with a pipeline comprised of EDG-7500, EDG-15400 and EDG-003.
Under the terms of the APA, the Company received $1.55 billion in upfront cash consideration and is eligible to receive up to $1.1 billion
in additional regulatory and commercial milestone payments, for aggregate potential consideration of up to $2.65 billion.
The disposed assets do not meet the definition of a business under
U.S. generally accepted accounting principles ("U.S. GAAP"). Accordingly, the Transaction is accounted for as a sale of nonfinancial
assets. Because the Transaction constitutes a significant disposition for purposes of Item 2.01 of Form 8-K, the Company has prepared
the following unaudited pro forma condensed financial information in accordance with Article 11 of Regulation S-X. The unaudited
pro forma condensed balance sheet as of March 31, 2026 gives effect to the Transaction as if it had occurred on March 31, 2026.
The unaudited pro forma condensed statements of operations for the three months ended March 31, 2026 and for the year ended December 31,
2025 give effect to the Transaction as if it had occurred on January 1, 2025, the beginning of the earliest period presented.
The unaudited pro forma condensed financial information is derived
from, and should be read together with, the Company’s audited financial statements, related notes and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” for the year ended December 31, 2025 included in
its Annual Report on Form 10-K filed February 26, 2026, and its unaudited condensed financial statements, related notes and
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” as of and for the three months
ended March 31, 2026 included in its Quarterly Report on Form 10-Q filed May 7, 2026.
The pro forma adjustments are based on currently available information
and certain assumptions that management believes are reasonable. The historical financial information has been adjusted to give effect
to transaction accounting adjustments include all necessary transaction accounting adjustments, including those that are not expected
to have a continuing impact. The transaction accounting adjustments giving effect to the sale of the sevasemten program in the unaudited
pro forma condensed financial information include:
· the receipt of $1.55 billion of upfront cash consideration payable at closing
under the APA;
· the derecognition of the assets and liabilities of the disposal group transferred
to, and assumed by, Servier;
· the recognition of the estimated gain on the sale;
· the elimination of operating expenses and personnel-related costs directly
attributable to the sevasemten program that will not continue following the Transaction;
· the estimated income tax effect of the Transaction and of the pro forma adjustments;
· the net impact of the Transition Services Agreement entered into with Servier;
and
· estimated transaction-related employee separation and related benefit costs.
The upfront cash consideration reflects the amount payable at closing.
The up to $1.1 billion of contingent regulatory and commercial milestones is excluded from the pro forma gain, as it remains constrained
for recognition purposes until it is probable that a significant reversal will not occur, a threshold not met for milestones dependent
on future approvals or sales outside the Company's control. The unaudited pro forma condensed financial information does not reflect any
anticipated cost savings, dis-synergies or other operating efficiencies that may result from the Transaction, and is not necessarily indicative
of the results of operations or financial position that would have been achieved had the Transaction occurred on the dates indicated,
nor is it indicative of future results. Actual amounts could differ materially from these estimates.
EDGEWISE THERAPEUTICS, INC.
UNAUDITED PRO FORMA CONDENSED BALANCE SHEET
AS OF MARCH 31, 2026
(In thousands, except share and per share data)
(Unaudited)
Edgewise
Historical
(As Reported)
Transaction
Accounting
Adjustments
Note
Pro Forma
Assets
Current assets
Cash and cash equivalents
$ 33,211
1,499,220
(A), (G)
1,532,431
Marketable securities, available for sale
466,351
466,351
Prepaid expenses and other assets
10,230
(4,055 )
(B)
6,175
Total current assets
509,792
1,495,165
2,004,957
Property and equipment, net
7,396
7,396
Operating lease right-of-use asset
1,334
1,334
Total assets
518,522
1,495,165
2,013,687
Liabilities and stockholders’ equity
Current liabilities
Accounts payable
$ 7,293
(4,310 )
(B)
2,983
Accrued compensation
5,678
(780 )
(G)
4,898
Accrued other expenses
8,555
(5,246 )
(B)
3,309
Operating lease liability, current portion
1,017
1,017
Income taxes payable
225,856
(E)
225,856
Deferred income – transition services, current portion
5,364
(F)
5,364
Total current liabilities
22,543
220,884
243,427
Operating lease liability, net of current portion
2,776
2,776
Deferred income – transition services
12,516
(F)
12,516
Total liabilities
25,319
233,400
258,719
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $.0001 par value per share; 200,000,000 shares authorized and no shares issued or outstanding as of March 31, 2026
-
-
Common stock, $.0001 par value per share; 1,000,000,000 shares authorized as of March 31, 2026; 107,481,522 shares shares issued and outstanding as of March 31, 2026
10
10
Additional paid-in capital
1,088,829
1,088,829
Accumulated other comprehensive income (loss)
(252 )
(252 )
(Accumulated deficit) / retained earnings
(595,384 )
1,261,765
(C)
666,381
Total stockholders’ equity
493,203
1,261,765
1,754,968
Total liabilities and stockholders’ equity
$ 518,522
1,495,165
2,013,687
See accompanying notes to unaudited pro forma
condensed financial information.
EDGEWISE THERAPEUTICS, INC.
UNAUDITED PRO FORMA CONDENSED STATEMENT OF
OPERATIONS
THREE MONTHS ENDED MARCH 31, 2026
(In thousands, except share and per share data)
(Unaudited)
Edgewise
Historical
(As Reported)
Transaction
Accounting
Adjustments
Note
Pro Forma
Operating expenses
Research and development
$ 42,651
(15,946 )
(D), (F)
26,705
General and administrative
11,464
(1,554 )
(D), (F)
9,910
Total operating expenses
54,115
(17,500 )
36,615
Loss from operations
(54,115 )
17,500
(36,615 )
Other income
Interest income
5,102
5,102
Other income
-
3,576
(F)
3,576
Total other income
5,102
3,576
8,678
Net loss
(49,013 )
21,076
(27,937 )
Other comprehensive income (loss):
Unrealized gain on available-for-sale securities, net
(929 )
(929 )
Total comprehensive loss
$ (49,942 )
21,076
(28,866 )
Net loss per share, basic and diluted
$ (0.46 )
(0.27 )
Weighted-average shares outstanding, basic and diluted
107,116,709
107,116,709
See accompanying notes to unaudited pro forma
condensed financial information.
EDGEWISE THERAPEUTICS, INC.
UNAUDITED PRO FORMA CONDENSED STATEMENT OF
OPERATIONS
YEAR ENDED DECEMBER 31, 2025
(In thousands, except share and per share data)
(Unaudited)
Edgewise
Historical
(As Reported)
Transaction
Accounting
Adjustments
Note
Pro Forma
Operating expenses
Research and development
$ 151,389
(57,852 )
(D), (F)
93,537
General and administrative
40,017
(3,388 )
(D), (F)
36,629
Total operating expenses
191,406
(61,240 )
130,166
Loss from operations
(191,406 )
61,240
(130,166 )
Other income
Interest income
23,611
23,611
Other income
-
14,304
(F)
14,304
Gain on sale of sevasemten program
-
1,487,621
(C)
1,487,621
Total other income
23,611
1,501,925
1,525,536
Net income (loss) before income taxes
(167,795 )
1,563,165
1,395,370
Income tax expense / (benefit)
-
259,843
(E)
259,843
Net income (loss)
(167,795 )
1,303,322
1,135,527
Other comprehensive income (loss):
Unrealized gain on available-for-sale securities, net
257
257
Total comprehensive income (loss)
$ (167,538 )
1,303,322
1,135,784
Net earnings (loss) per share, basic and diluted
$ (1.63 )
11.03
Weighted-average shares outstanding, basic and diluted
102,930,744
102,930,744
See accompanying notes to unaudited pro forma
condensed financial information.
EDGEWISE THERAPEUTICS, INC.
NOTES TO UNAUDITED PRO FORMA CONDENSED FINANCIAL
INFORMATION
(In thousands, unless disclosed otherwise)
(Unaudited)
Note 1 — Basis of Presentation
The unaudited pro forma condensed financial information has been prepared
in accordance with Article 11 of Regulation S-X. The historical financial information has been adjusted to give effect to transaction
accounting adjustments include all necessary transaction accounting adjustments, including those that are not expected to have a continuing
impact. The sevasemten program has historically been an in-process research and development program and the Company expenses research
and development costs as incurred and, accordingly, sevasemten carries no capitalized intangible or in-process research and development
balance on the historical balance sheet. The operations of the disposal group did not meet the criteria to be presented as discontinued
operations. Amounts are presented in thousands unless otherwise noted.
Note 2 — Transaction Accounting Adjustments
(A) Upfront Cash Proceeds — Reflects the receipt
of $1,550,000 of upfront cash consideration payable at closing under the APA, less $50,000 of estimated transaction costs directly attributable
to the Transaction and paid at closing and less $780 of transaction-related employee payments the Company remains obligated to settle
at closing (see note (G)), resulting in a net increase in Cash and cash equivalents of $1,499,220. The estimated transaction costs are
also reflected as a reduction of the gain on sale (see note (C)). Amounts that may be earned in the future under the milestone provisions
are excluded from the pro forma adjustments.
(B) Derecognition of Net Liabilities Assumed — Reflects
the derecognition of the assets and liabilities of the disposal group transferred to, and assumed by, Servier under the APA. The disposal
group comprises prepaid expenses and other assets, accounts payable and accrued other expenses. Because the sevasemten intellectual property,
know-how, regulatory filings, clinical data and related contracts were internally generated and the related costs were expensed as incurred,
no intangible asset is derecognized. The following table summarizes the carrying value of the assets disposed and liabilities assumed
in connection with the Transaction:
(in thousands)
As of March 31, 2026
Prepaid expenses and other assets
$ 4,055
Total Assets
4,055
Accounts payable
4,310
Accrued other expenses
5,246
Total Liabilities
9,556
Net Liabilities
$ 5,501
(C) Gain on Sale — Reflects the recognition of an
estimated $1,487,621 gain on the Transaction, directly attributable to and resulting from the sale of sevasemten to Servier. The gain
is calculated as the upfront cash consideration, plus the carrying amount of net liabilities assumed by Servier, less the carrying amount
of assets transferred and directly attributable transaction costs, as set forth in the table below. The gain is further reduced by the
portion of the total consideration allocated to the Company's below-market transition services obligation, which is deferred as a transition
services liability and recognized as the related services are performed, rather than recognized in the gain at closing (see note (F)).
The gain is nonrecurring and is not expected to have a continuing impact on the Company's operations. Because the pro forma statement
of operations for the year ended December 31, 2025 assumes the Transaction occurred on January 1, 2025, the same estimated gain
is presented as a separate line item in that statement of operations and is reflected within the accumulated deficit (retained earnings)
balance in stockholders' equity on the pro forma balance sheet as of March 31, 2026.
Gain on Sale of Sevasemten Program
(in thousands)
Upfront cash consideration received at closing
$ 1,550,000
Add: Carrying amount of total liabilities of the disposal group assumed by Servier
9,556
Less: Carrying amount of assets of the disposal group transferred to Servier
4,055
Less: Estimated transaction costs directly attributable to the Transaction
50,000
Less: Consideration allocated to the transition services obligation
17,880
Gain on sale of sevasemten program before income taxes
1,487,621
Less: Estimated income tax effect (see note (E))
225,856
Gain on sale of sevasemten program, net of income taxes
$ 1,261,765
(D) Elimination of Divested Operating Expenses — Reflects
the elimination of operating expenses directly attributable to the sevasemten program that will not continue following the Transaction,
as summarized in the table below. The eliminated expenses comprise (i) external clinical program costs directly attributable to the
divested program and (ii) internal personnel-related costs associated with employees who directly support the muscular dystrophy
business and who were separated from the Company at the time of the Transaction and may transfer to Servier.
Eliminated operating expenses
(in thousands)
Three months ended
March 31, 2026
Year ended December
31, 2025
Research and development
$ 18,939
$ 69,821
General and administrative
2,137
5,723
Total operating expenses
$ 21,076
$ 75,544
(E) Income Tax Effect — Reflects the estimated income
tax effect of the Transaction and of the pro forma adjustments. Although the Company maintains a full valuation allowance against its
deferred tax assets, the estimated taxable gain on the Transaction exceeds the federal and state net operating loss carryforwards and
tax credits available to offset it after giving effect to the annual limitations imposed under Section 382 of the Internal Revenue
Code. No income tax adjustment is reflected in the pro forma statement of operations for the three months ended March 31, 2026, as
the Company is projected to be in a pre-tax loss position for the period. The income tax expense reflected in the pro forma statement
of operations (which gives effect to the Transaction as of January 1, 2025) differs from the income taxes payable reflected in the
pro forma balance sheet (which gives effect to the Transaction as of March 31, 2026) because each is computed using the taxable income,
net operating loss carryforwards and tax attributes available as of the respective assumed transaction date. These amounts are preliminary
and subject to change based on the Company's actual results for the period and finalization of the related income tax provision.
(F) Transition Services Agreement — In connection
with the Transaction, and effective at closing, the Company and Servier entered into a Transition Services Agreement (the "TSA")
under which the Company will provide specified transitional services to Servier for a period of time following closing. Under the TSA,
Servier reimburses the Company for 50% of the FTE costs and 50% of the out-of-pocket third-party costs the Company incurs in performing
the services (other than costs under the purchased contracts, which Servier reimburses in full until those contracts transfer). The TSA
has an initial term of at least 18 months following closing and may extend to the first marketing approval of sevasemten (including any
supplemental approvals for Duchenne muscular dystrophy) or completion of all service periods, with individual services extendable for
one additional six-month period.
Because Servier reimburses only 50% of the Company's cost of performing
the services, a portion of the total consideration received in the Transaction is attributable to the Company's obligation to provide
those services at below-market rates. That portion, estimated at $17,880, is not recognized in the gain at closing (see note (C)). Instead
it is recorded as a deferred income – transition services liability and released to income as the related services are performed.
Of this amount, $5,364 is expected to be recognized within twelve months and is classified as current, with the remaining $12,516 classified
as non-current.
The pro forma statements of operations reflect the TSA on a gross basis:
the full cost of performing the services is presented within operating expenses in its natural classification (research and development
and general and administrative), and the cash reimbursements from Servier, together with the release of the deferred income liability,
are presented within Other income. The pro forma effect of the TSA on the statements of operations is summarized below:
(in thousands)
Three months ended
March 31, 2026
Year ended December
31, 2025
Cost of transition services (in operating expense)
$ (3,576 )
$ (14,304 )
Reimbursements from Servier (50% of costs) — other income
1,788
7,152
Release of deferred income – transition services — other income
1,788
7,152
Net effect on net income (loss)
$ -
$ -
The estimated TSA amounts presented reflect only the periods presented
and are not necessarily indicative of the costs, reimbursements, or net charges the Company will incur under the TSA in periods after
March 31, 2026. The net impact in future periods is expected to vary based on the level of services requested by Servier and to decline
as the transition services wind down.
(G) Transaction-Related Employee Separation Costs — Pursuant
to the APA, the Company remains responsible for settling $780 of previously accrued employee obligations (accrued annual bonuses and accrued
paid time off) relating to employees who were separated from the Company at the time of the Transaction and may transfer to Servier. Because
these amounts were already accrued in the historical financial statements, their settlement does not represent an incremental charge to
results of operations. The obligation is reflected as a decrease to accrued compensation of $780, with a corresponding reduction of cash
and cash equivalents (see note (A)), in the pro forma condensed balance sheet as of March 31, 2026.
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+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
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- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
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Namespace Prefix:
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Balance Type:
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- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
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Namespace Prefix:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
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Namespace Prefix:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
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Data Type:
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Balance Type:
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- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
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