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Sep 30, 2021
Tectonic Q3 2021 Earnings Report
AVROBIO reported financial results for the quarter ended Sept. 30, 2021, and provided a business update.
Key Takeaways
AVROBIO reported a net loss of $32.6 million for the third quarter of 2021, driven by decreased research and development expenses, partially offset by increased general and administrative expenses. They ended the quarter with $201.4 million in cash and cash equivalents.
Provided comprehensive safety update on AVROBIO’s lentiviral gene therapy platform and programs at ESGCT 2021
Received FDA feedback on CMC requirements for anticipated Fabry disease registration trial; registration study initiation anticipated for mid-2022
Cash runway extended into fourth quarter of 2023
Secured up to $65 million in availability of non-dilutive term loan financing
Forward Guidance
AVROBIO anticipates multiple program milestones over the next 12 months, including efficacy data updates for Fabry disease trials, clinical and regulatory updates for cystinosis, and full program updates for Gaucher disease type 1. They also plan to engage regulatory agencies for Gaucher disease type 3 and initiate clinical trials for Pompe and Hunter syndromes.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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