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Dec 31, 2022
Generation Bio Q4 2022 Earnings Report
Generation Bio reported its Q4 2022 financial results and outlined strategic priorities for 2023.
Key Takeaways
Generation Bio reported a net loss of $32.4 million for the fourth quarter of 2022. The company's cash, cash equivalents, and marketable securities were $279.1 million as of December 31, 2022, which is expected to fund operations into 2025. The company is focusing on achieving proof-of-concept for its ctLNP delivery systems in 2023.
Cash, cash equivalents and marketable securities were $279.1 million as of December 31, 2022.
R&D expenses were $21.6 million for the quarter ended December 31, 2022.
G&A expenses were $13.1 million for the quarter ended December 31, 2022.
Net loss was $32.4 million, or $0.55 basic and diluted net loss per share, for the quarter ended December 31, 2022.
Generation Bio
Generation Bio
Forward Guidance
Generation Bio is focused on advancing its non-viral DNA therapeutics platform and expects to demonstrate Factor VIII expression in non-human primates in 2023.
Positive Outlook
- Demonstrate Factor VIII expression in non-human primates (NHPs) with a novel ctLNP.
- Pursue development of two types of ctLNP delivery systems.
- GalNAc-conjugated ctLNP designed for highly specific uptake by hepatocytes.
- Developing a “stealth” LNP, designed to avoid clearance by the spleen and liver.
- Demonstrate proof-of-concept for re-targeting its stealth LNP system to reach immune cells
Challenges Ahead
- Uncertainties inherent in the identification and development of product candidates
- Uncertainties as to the availability and timing of results from preclinical studies and clinical trials
- Uncertainties regarding the RES manufacturing process
- Challenges in the manufacture of genetic medicine products
- Impact of the COVID-19 pandemic on the company’s business and operations