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Jun 30, 2021
Tectonic Q2 2021 Earnings Report
AVROBIO reported financial results for the quarter ended June 30, 2021 and provided a business update.
Key Takeaways
AVROBIO reported a net loss of $31.4 million for the second quarter of 2021, driven by increased research and development expenses as well as increased general and administrative expenses. As of June 30, 2021, AVROBIO had $226.4 million in cash and cash equivalents.
FDA granted Fast Track Designation to AVR-RD-04 for cystinosis.
The company is planning to initiate multiple registration trials in 2022.
Multiple data and regulatory updates are anticipated over the next 12 months.
Two additional patients have been dosed in the FAB-GT trial since June 2021.
Tectonic
Tectonic
Forward Guidance
Based on the company’s current operating plan, AVROBIO expects its cash and cash equivalents as of June 30, 2021 will enable the company to fund its operating expenses and capital expenditure requirements into the first quarter of 2023.