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Dec 31, 2024
Adaptimmune Q4 2024 Earnings Report
Estimated Revenue:$9.93M
+72.9% YoY
Estimated EPS:-$0.16
30.1% YoY
Key Takeaways
Adaptimmune reported a Q4 2024 product revenue of $1.2 million from Tecelra, with 3 patients apheresed in 2024 and 10 in Q1 2025, indicating accelerating launch momentum. The company completed a corporate restructure and is implementing additional cost reductions, aiming for profitability by 2027, and ended 2024 with $152 million in total liquidity.
Tecelra launch momentum is accelerating with 10 patients apheresed in Q1 2025 and 3 in 2024, generating $1.2 million in Q4 product revenue.
Lete-cel is on track to initiate rolling BLA submission in late 2025, with approval anticipated in 2026, expanding the sarcoma franchise.
Corporate restructure completed in February 2025, with additional cost reductions for PRAME and CD70 programs, contributing to an aggregate of $300 million in cost savings over four years.
Adaptimmune ended 2024 with total liquidity of $152 million and is evaluating all strategic options to maximize shareholder value.
Forward Guidance
Adaptimmune anticipates continued momentum for Tecelra, with plans to expand its network of Authorized Treatment Centers and initiate the rolling BLA submission for lete-cel in late 2025, aiming for profitability by 2027.
Positive Outlook
- On track to have approximately 30 ATCs open by end of 2025.
- Lete-cel on track to initiate rolling BLA submission late 2025, with approval anticipated 2026.
- Aiming to achieve operating profitability during 2027.
- Successful reimbursement with no denials to date for Tecelra.
- 100% success rate in manufacturing to date with no capacity constraints for Tecelra.
Challenges Ahead
- Substantial doubt about the ability to continue as a going concern, as disclosed in the 2024 Annual Report on Form 10-K.
- Reliance on strategic options and cost reduction measures to achieve financial goals.
- Future results could differ materially due to risks and uncertainties in product development, clinical trials, and regulatory processes.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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