Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...