SEC Comment Letter 0000000000-23-012768 to Entrada Therapeutics, Inc. (TRDA) (CIK 0001689375) (TRDA)
Entrada Therapeutics, Inc. (TRDA) (CIK 0001689375)
Date: Nov. 21, 2023 · CIK: 0001689375 · Accession: 0000000000-23-012768
AI Filing Summary & Sentiment
File numbers found in text: 001-40969
Letter
United States securities and exchange commission logo November 21, 2023 Kory Wentworth Chief Financial Officer Entrada Therapeutics, Inc. One Design Center Place Suite 17-500 Boston, MA 02210 Re:Entrada Therapeutics, Inc. Form 10-K for the Fiscal Year Ended December 31, 2022 Filed March 6, 2023 Form 10-Q for the Six Months Ended June 30, 2023 Filed August 8, 2023 File No. 001-40969 Dear Kory Wentworth: We have reviewed your November 13, 2023 response to our comment letter and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe the comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our November 1, 2023 letter. Correspondence filed November 13, 2023 Form 10-Q for the Quarterly Period ended June 30, 2023 Notes to Condensed Consolidated Financial Statements (Unaudited) 13. Collaboration and License Agreements, page 23 1.You state that you adopted Accounting Standards Update 2022-03 on January 1, 2023 and that you considered the guidance provided by ASC 820-10-35-16D and 820-10-55-51 and 820-10-52 (Case A). Please tell us if the discount for lack of marketability was based solely on the fact that the shares issued were unregistered or whether it contemplated the lock-up agreement restriction in paragraph 10.2 of the Stock Purchase Agreement. If the lock-up provision was considered in estimating the discount for lack of marketability,
FirstName LastNameKory Wentworth Comapany NameEntrada Therapeutics, Inc. November 21, 2023 Page 2 FirstName LastName Kory Wentworth Entrada Therapeutics, Inc. November 21, 2023 Page 2 explain how you determined this was appropriate considering the guidance in ASC 820- 10-55-52A. In addition, please tell us why additional disclosure pursuant to ASC 820-10- 50-6B is not required. Please contact Mary Mast at 202-551-3613 or Angela Connell at 202-551-3426 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Life Sciences
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United States securities and exchange commission logo
November 21, 2023
Kory Wentworth
Chief Financial Officer
Entrada Therapeutics, Inc.
One Design Center Place
Suite 17-500
Boston, MA 02210
Re:Entrada Therapeutics, Inc.
Form 10-K for the Fiscal Year Ended December 31, 2022
Filed March 6, 2023
Form 10-Q for the Six Months Ended June 30, 2023
Filed August 8, 2023
File No. 001-40969
Dear Kory Wentworth:
We have reviewed your November 13, 2023 response to our comment letter and have the
following comment.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe
the comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments. Unless
we note otherwise, any references to prior comments are to comments in our November 1,
2023 letter.
Correspondence filed November 13, 2023
Form 10-Q for the Quarterly Period ended June 30, 2023
Notes to Condensed Consolidated Financial Statements (Unaudited)
13. Collaboration and License Agreements, page 23
1.You state that you adopted Accounting Standards Update 2022-03 on January 1, 2023 and
that you considered the guidance provided by ASC 820-10-35-16D and 820-10-55-51 and
820-10-52 (Case A). Please tell us if the discount for lack of marketability was based
solely on the fact that the shares issued were unregistered or whether it contemplated the
lock-up agreement restriction in paragraph 10.2 of the Stock Purchase Agreement. If the
lock-up provision was considered in estimating the discount for lack of marketability,
FirstName LastNameKory Wentworth
Comapany NameEntrada Therapeutics, Inc.
November 21, 2023 Page 2
FirstName LastName
Kory Wentworth
Entrada Therapeutics, Inc.
November 21, 2023
Page 2
explain how you determined this was appropriate considering the guidance in ASC 820-
10-55-52A. In addition, please tell us why additional disclosure pursuant to ASC 820-10-
50-6B is not required.
Please contact Mary Mast at 202-551-3613 or Angela Connell at 202-551-3426 if you
have questions regarding comments on the financial statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Life Sciences