Entrada Therapeutics Reports First Quarter 2022 Financial Results Second clinical candidate, ENTR-701, announced for the potential treatment of myotonic dystrophy type 1 On track to submit Investigational New Drug applic

Entrada Therapeutics Reports First Quarter 2022

Second clinical candidate, ENTR-701, announced

for the potential treatment of myotonic dystrophy type 1

On track to submit Investigational New Drug

application to the U.S. Food and Drug Administration for ENTR-601-44 targeting Duchenne muscular dystrophy in Q4 2022

$263.9 million in cash, cash equivalents and

marketable securities as of March 31, 2022 to advance pipeline of Endosomal Escape Vehicle (EEV ) therapeutic candidates

BOSTON, May 12, 2022 (GLOBE NEWSWIRE) -- Entrada Therapeutics, Inc.

(Nasdaq: TRDA), a biopharmaceutical company aiming to transform the lives of patients by establishing intracellular Endosomal Escape Vehicle

(EEV ) therapeutics as a new class of medicines, today reported financial results for the first quarter ended March 31, 2022 and

highlighted recent business updates.

"In the first quarter of 2022, we continued to make significant

progress in advancing our growing pipeline of EEV therapeutic candidates," said Dipal Doshi, President and Chief Executive Officer

of Entrada. "We reported encouraging new data from preclinical studies on our lead neuromuscular candidate, ENTR-601-44, for patients

with Duchenne muscular dystrophy who are exon 44 skipping amenable, as well as from our myotonic dystrophy type 1 program. Just this month,

we were excited to present additional preclinical data at TIDES USA that reinforce our conviction in developing ENTR-701, our newly announced

clinical candidate for myotonic dystrophy type 1, one of the most predominant rare neuromuscular diseases for which there are currently

no approved therapies."

Recent Corporate Highlights

Upcoming Scientific Meetings

Entrada plans to present at two additional scientific meetings in May

2022. Presentations from both meetings will be available on the Publications & Conferences section of the Entrada website following

Title: Development of Endosomal Escape Vehicles to

Enhance the Intracellular Delivery of Oligonucleotides

Session: Oligonucleotide Therapeutics I

Presenter: Leo Ziqing Qian, PhD, Co-Founder &

Vice President, Discovery Research of Entrada

Date & Time: Monday, May 16 from 5:30 -

Location: Virtual and in-person in Washington, D.C.

Session: Exon Skipping and Read Through Agents Panel

Presenter: Nerissa Kreher, MD, Chief Medical Officer

Date & Time: Monday, May 28 from 1:55 -

Location: Virtual and in-person in Orlando, FL

First Quarter 2022 Financial Results

Cash Position: Cash, cash equivalents and marketable securities

were $263.9 million as of March 31, 2022, compared to $291.1 million as of December 31, 2021. Based on current operating plans, Entrada

expects its existing cash, cash equivalents and marketable securities will enable the company to fund its operating expenses and capital

expenditure requirements into the second half of 2024.

Research & Development (R&D) Expenses: R&D expenses

for the first quarter of 2022 were $15.7 million, compared to $6.2 million for the same period in 2021. This increase was primarily due

to additional investment in preclinical studies to support future clinical trials, enhanced facility and equipment-related investments

and higher personnel costs (including non-cash stock-based compensation).

General & Administrative (G&A) Expenses: G&A expenses

for the first quarter of 2022 were $6.4 million, compared to $2.2 million for the same period in 2021. This increase was primarily due

to higher personnel costs (including non-cash stock-based compensation), legal and other professional fees, and facilities costs.

Net Loss: Net loss for the first quarter of 2022 was $21.7 million,

compared to $8.4 million for the same period of 2021.

About Entrada Therapeutics

Entrada Therapeutics is a biopharmaceutical

company aiming to transform the lives of patients by establishing a new class of medicines, Endosomal Escape Vehicle (EEV ) therapeutics,

to engage intracellular targets that have long been considered inaccessible and undruggable. The Company's EEV therapeutics are

designed to enable the efficient intracellular delivery of a wide range of therapeutics into a variety of organs and tissues with an improved

therapeutic index. Through its proprietary, highly versatile and modular EEV platform, Entrada is building a robust development portfolio

of oligonucleotide-, antibody- and enzyme-based programs for the potential treatment of neuromuscular diseases, immunology, oncology and

diseases of the central nervous system. The Company's lead oligonucleotide programs include ENTR-601-44 targeting Duchenne muscular

dystrophy (DMD) and ENTR-701 targeting myotonic dystrophy type 1 (DM1).

For more information about Entrada, please

Forward-Looking Statements

This press release contains forward-looking statements that involve

substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including

statements regarding Entrada's strategy, future operations, prospects and plans, objectives of management, the continued development

of ENTR-601-44, including the Investigational New Drug (IND) application-enabling studies, the timing of Entrada's planned regulatory

filings regarding its development programs, expectations regarding the preclinical data of ENTR-601-44 and ENTR-701 and the related potential

for development, the progression of early-stage oligonucleotide, antibody and enzyme-based programs into clinical development, the continued

development and advancement of ENTR-601-44 for the treatment of DMD and ENTR-701 for the treatment of DM1, the potential therapeutic benefits

of its EEV candidates, and the sufficiency of its cash resources, constitute forward-looking statements within the meaning of The Private

Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could,"

"estimate," "expect," "intend," "may," "might," "objective," "ongoing,"

"plan," "predict," "project," "potential," "should," or "would,"

or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all

forward-looking statements contain these identifying words. Entrada may not actually achieve the plans, intentions or expectations disclosed

in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events

could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various

important factors, including: uncertainties inherent in the identification and development of product candidates, including the conduct

of research activities and the initiation and completion of preclinical studies and clinical trials; uncertainties as to the availability

and timing of results from preclinical studies; the timing of and Entrada's ability to submit and obtain regulatory clearance for

IND applications and initiate clinical trials; whether results from preclinical studies will be predictive of the results of later preclinical

studies and clinical trials; whether Entrada's cash resources will be sufficient to fund the Company's foreseeable and unforeseeable

operating expenses and capital expenditure requirements; uncertainties associated with the impact of the ongoing COVID-19 pandemic on

Entrada's business and operations; as well as the risks and uncertainties identified in Entrada's filings with the Securities

and Exchange Commission (SEC), including the Company's most recent Form 10-K and in subsequent filings Entrada may make with the

SEC. In addition, the forward-looking statements included in this press release represent Entrada's views as of the date of this

press release. Entrada anticipates that subsequent events and developments will cause its views to change. However, while Entrada may

elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These

forward-looking statements should not be relied upon as representing Entrada's views as of any date subsequent to the date of this

ENTRADA THERAPEUTICS, INC.

Condensed Consolidated Statements of Operations

(In thousands, except share and per share amounts)

ENTRADA THERAPEUTICS, INC.

Condensed Consolidated Balance Sheet Data (Unaudited)

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