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Mar 31
Adaptimmune Q1 2025 Earnings Report
Adaptimmune reported its Q1 2025 financial results, highlighting increased revenue driven by Tecelra product sales and progress in its sarcoma franchise.
Key Takeaways
Adaptimmune reported a net loss of $47.6 million for Q1 2025, consistent with the prior year, on total revenue of $7.3 million, up from $5.7 million in Q1 2024. The increase was primarily due to $4.0 million in Tecelra product sales following its FDA approval. The company also provided 2025 Tecelra full-year sales guidance of $35-$45 million and reported total liquidity of $60 million as of March 31, 2025.
Total revenue increased to $7.3 million in Q1 2025, up from $5.7 million in Q1 2024, driven by Tecelra product sales.
Tecelra net sales reached $4.0 million in Q1 2025, with 6 patients invoiced in Q1 2025 and 8 patients invoiced in Q2 to-date.
Adaptimmune provided full-year 2025 Tecelra sales guidance of $35-$45 million.
The company maintained a 100% manufacturing success rate for Tecelra with no payer denials to date.
Adaptimmune
Adaptimmune
Adaptimmune Revenue by Segment
Revenue by Segment
Product revenue, net Revenue
CapyFin.comDevelopment Revenue
CapyFin.com Forward Guidance
Adaptimmune anticipates continued acceleration in Tecelra sales and expects to initiate rolling BLA submission for lete-cel in late 2025, with approval anticipated in 2026.
Positive Outlook
- Instituting 2025 Tecelra full year sales guidance of $35-$45 million.
- Lete-cel on track to initiate rolling BLA submission late 2025.
- Lete-cel approval anticipated in 2026.
- Full network of approximately 30 ATCs expected to be open by the end of the year.
- Lete-cel is expected to more than double the addressable patient population in the sarcoma franchise.
Challenges Ahead
- Substantial doubt about the company's ability to continue as a going concern.
- Ongoing review of strategic options with TD Cowen.
- No specific negative forward guidance points were explicitly stated beyond the going concern disclosure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income