Adaptimmune rises on upbeat Q1 revenue

Adaptimmune Therapeutics

12/05/2023 14:23

** U.S.-listed shares of Adaptimmune Therapeutics  ADAP.O 
rise 4.4% at $1.42 premarket
    ** UK-based cancer therapies developer reported Q1 revenue
of $47.6 mln vs analysts' est of $4.93 mln - Refinitiv data
    ** Revenue has increased primarily due to the termination of
collaboration with Astellas Pharma Inc  4503.T 
    ** Adds it completed part-2 of marketing application
submission with U.S. FDA for approval of its therapy, afami-cel 
    ** Afami-cel is a potential treatment for synovial sarcoma,
a rare type of cancer that affects soft tissues
    ** Believes that its existing cash, cash equivalents and
marketable securities, along with collaboration and deal
termination payments will fund its current operations into early
2025
    ** Co in March agreed to buy drug developer TCR2
Therapeutics Inc  TCRR.O  to bolster its pipeline of cancer
therapies
    ** Estimates cash runway of the combined company will extend
into early 2026, following transaction close 
    ** As of last close, U.S.-listed ADAP stock down 6.9% YTD

 (Reporting by Pratik Jain In Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))