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Mar 31, 2024
2Seventy Bio Q1 2024 Earnings Report
Reported first quarter financial results with Abecma generating $52 million in U.S. commercial revenue and completed R&D pipeline divestiture, focusing on Abecma's commercialization.
Key Takeaways
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.
Abecma generated $52 million in U.S. commercial revenue in Q1 2024.
FDA approved Abecma for triple-class exposed relapsed or refractory multiple myeloma after two prior lines of therapy.
Completed R&D pipeline divestiture to Regeneron, streamlining focus on Abecma.
Ended Q1 2024 with $181.4 million in cash, cash equivalents, and marketable securities, ensuring cash runway beyond 2027.
2Seventy Bio
2Seventy Bio
2Seventy Bio Revenue by Segment
Revenue by Segment
Service Revenue
CapyFin.comCollaborative arrangement Revenue
CapyFin.com Forward Guidance
2seventy bio anticipates a return to growth in the second half of 2024, driven by the commercial launch of Abecma into earlier lines of therapy and the transition to sLVV manufacturing to support increased demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income