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Jun 30, 2023
Adaptimmune Q2 2023 Earnings Report
Reported financial results and business updates for Q2 2023.
Key Takeaways
Adaptimmune reported revenue of $5.1 million and a net loss of $21.4 million for the second quarter ended June 30, 2023. The company completed a strategic combination with TCR2, adding pipeline, technologies, approximately 40 people and $84.6 million in Total Liquidity at closing. They also anticipate completing the afami-cel BLA submission in Q4 2023 and have a cash runway into early 2026.
Substantial progress on the afami-cel BLA with FDA agreement, submission targeted for Q4 2023.
Transition of lete-cel from GSK with pivotal trial data expected in late 2023.
Initiated Phase 2 SURPASS-3 trial in ovarian cancer, potentially registrational and supported by RMAT designation.
Completed strategic combination with TCR2, adding pipeline, technologies, approximately 40 people and $84.6m in Total Liquidity.
Forward Guidance
The Company believes that its existing cash, cash equivalents and marketable securities, together with the additional payments under the Strategic Collaboration and License Agreement with Genentech and payments under the Termination and Transfer Agreement with GSK, will fund the Company’s current operations into early 2026
Historical Earnings Impact
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Avg. Return Before/After Earnings
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