2seventy Bio stops enrolling patients in blood cancer therapy study (updated)

2Seventy Bio

25/09/2024 11:49

(Adds exec and company comments in paragraphs 2-3, forecast in
paragraph 4)
       Sept 25 (Reuters) - 2seventy bio  TSVT.O  will
discontinue enrolling patients in a late-stage study of its
cell-therapy Abecma, developed in partnership with Bristol-Myers
Squibb BMY.N , for treating patients with newly diagnosed
multiple myeloma.
    The decision was taken due to the fewer number of eligible
patients amid increasing treatment options than when the study
was first designed, Anna Truppel-Hartmann, chief medical officer
of 2seventy Bio, said in a statement on Wednesday. 
    The move will save more than $80 million in near-term
expenses and help break-even in 2025, the company said. 
    2seventy Bio also forecast third-quarter Abecma revenue
growth of about 30% in the U.S. from $54 million reported in the
second quarter.
    Abecma is already approved for treating patients with
relapsed or refractory multiple myeloma, who have already
received two or more prior therapies.

    

 (Reporting by Kashish Tandon in Bengaluru; Editing by Abinaya
Vijayaraghavan and Sriraj Kalluvila)
 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))