2Seventy Bio Earnings Reports

2seventy bio reported a net loss of $9.9 million for the third quarter, with total revenues of $13.5 million. Abecma U.S. commercial revenue was $77 million, a 42% increase compared to the second quarter. The company ended the quarter with $192 million in cash, cash equivalents, and marketable securities, expecting a cash runway beyond 2027.

2seventy bio reported a transformative quarter with a focus on Abecma, highlighted by $54 million in U.S. commercial revenue, a 43% reduction in operating expenses, and a strengthened balance sheet. The company completed the sale of its oncology R&D business to Regeneron and its Hemophilia A program to Novo Nordisk, positioning it to achieve profitability by the end of 2025.

2seventy bio reported a net loss of $52.7 million for the first quarter of 2024, with total revenues of $12.4 million. The company completed a strategic realignment to focus on Abecma and divested its R&D business to Regeneron. Abecma generated $52 million in U.S. commercial revenue, and the company ended the quarter with $181.4 million in cash, cash equivalents, and marketable securities, providing a cash runway beyond 2027.