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Dec 31, 2023
Adaptimmune Q4 2023 Earnings Report
Adaptimmune reported financial results for Q4 and full year 2023 and provided a business update.
Key Takeaways
Adaptimmune reported Q4 2023 revenue of $0.2 million and a net loss of $47.9 million. The company's cash and cash equivalents totaled $143.9 million as of December 31, 2023. Adaptimmune is preparing to launch afami-cel in Q3 2024.
FDA accepted BLA for afami-cel with priority review and a PDUFA date of August 4th, 2024.
Confirmatory evidence for afami-cel full approval agreed with FDA; will use data from Cohort 2 of pivotal SPEARHEAD-1 trial, which is fully enrolled.
Company is targeting launch of afami-cel upon receipt of FDA approval with commercial, manufacturing, and supply chain teams preparing for product delivery.
Cash runway into early 2026 with greater than $300 million including current cash on hand, future expected income from partners and projected other non-dilutive capital sources.
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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