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Dec 31, 2022
Adaptimmune Q4 2022 Earnings Report
Adaptimmune reported financial results for the fourth quarter and full year ended December 31, 2022 and provided a business update.
Key Takeaways
Adaptimmune Therapeutics reported Q4 2022 revenue of $11.0 million compared to $1.4 million for the same period in 2021. The net loss for the fourth quarter was $29.3 million ($(0.03) per ordinary share), compared to $38.9 million ($(0.04) per ordinary share) for the same period in 2021.
BLA submission initiated for afami-cel, with aim to complete in mid-2023.
52% response rate in ovarian, bladder and head & neck cancers in the Phase 1 SURPASS trial with next-generation MAGE-A4 product.
Adaptimmune will advance its wholly owned optimized PRAME TCR to be IND-ready in 2023.
Strategic combination to create a preeminent cell therapy company for solid tumors announced earlier today.
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 reductions in the Company’s operating costs as a result of the restructuring of the Company that is expected to be completed in the first quarter of 2023, will fund the Company’s current operations into early 2025.
Historical Earnings Impact
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