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Sep 30, 2024
2Seventy Bio Q3 2024 Earnings Report
Reported third quarter financial results and operational progress.
Key Takeaways
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.
Abecma generated $77 million in U.S. commercial revenue, a 42% increase versus the second quarter.
Discontinued enrollment in the KarMMa-9 study, resulting in over $80 million in anticipated cost savings over the next several years.
Operating expenses decreased by 24% compared to the second quarter, reflecting continued streamlining of the cost structure.
Ended the quarter with approximately $192 million in cash, cash equivalents, and marketable securities, with an expected 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 Abecma revenues of approximately $240 - $250 million for the full year of 2024 and reiterates its net cash spend range of $40-60 million for 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income