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Adaptimmune Reports Q3 2024 Financial and Business Updates

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Adaptimmune Therapeutics (NASDAQ: ADAP) reports Q3 2024 updates with Total Liquidity of $186.1 million. The company announces a strategic restructuring with a planned 33% headcount reduction in Q1 2025, targeting approximately $300 million in cost savings over four years. The Tecelra® launch is progressing with 9 Authorized Treatment Centers, and the first patient has been apheresed. The company reports a 42% overall response rate in the lete-cel IGNYTE-ESO pivotal trial for synovial sarcoma and MRCLS. Q3 revenue was $40.9 million, and the company aims to achieve operating breakeven during 2027.

Adaptimmune Therapeutics (NASDAQ: ADAP) riporta aggiornamenti del Q3 2024 con liquidità totale di 186,1 milioni di dollari. L'azienda annuncia una ristrutturazione strategica con una prevista riduzione del 33% del personale nel Q1 2025, puntando a circa 300 milioni di dollari di risparmi sui costi in quattro anni. Il lancio di Tecelra® sta procedendo con 9 Centri di Trattamento Autorizzati, e il primo paziente è stato sottoposto ad aferesi. L'azienda riporta un tasso di risposta complessivo del 42% nello studio pivotale lete-cel IGNYTE-ESO per il sarcoma sinoviale e MRCLS. Il fatturato del Q3 è stato di 40,9 milioni di dollari e l'azienda mira a raggiungere il pareggio operativo entro il 2027.

Adaptimmune Therapeutics (NASDAQ: ADAP) informa sobre las actualizaciones del Q3 2024 con liquidez total de 186,1 millones de dólares. La compañía anuncia una reestructuración estratégica con una reducción del 33% en la plantilla prevista para el Q1 2025, buscando ahorrar aproximadamente 300 millones de dólares en costos durante cuatro años. El lanzamiento de Tecelra® está avanzando con 9 Centros de Tratamiento Autorizados, y el primer paciente ha sido sometido a aferesis. La compañía informa una tasa de respuesta global del 42% en el ensayo pivotal lete-cel IGNYTE-ESO para sarcoma sinovial y MRCLS. Los ingresos del Q3 fueron de 40,9 millones de dólares y la empresa tiene como objetivo alcanzar el punto de equilibrio operativo en 2027.

Adaptimmune Therapeutics (NASDAQ: ADAP)는 Q3 2024 업데이트를 발표하며 총 유동성 1억 8610만 달러를 보고했습니다. 회사는 Q1 2025에 인력의 33% 감축을 계획하고 있으며, 4년 동안 약 3억 달러의 비용 절감을 목표로 하는 전략적 구조조정을 발표했습니다. Tecelra®의 출시가 진행 중이며, 9개의 인증 치료 센터에서 첫 번째 환자가 아페레시스를 받았습니다. 이 회사는 연골육종과 MRCLS에 대한 lete-cel IGNYTE-ESO 주요 시험에서 42%의 전체 반응률을 보고했습니다. 3분기 매출은 4090만 달러였으며, 회사는 2027년까지 운영상의 손익 분기점 달성을 목표로 하고 있습니다.

Adaptimmune Therapeutics (NASDAQ: ADAP) annonce des mises à jour pour le T3 2024 avec une liquidité totale de 186,1 millions de dollars. La société annonce une restructuration stratégique avec une réduction de 33 % de ses effectifs prévue pour le T1 2025, visant environ 300 millions de dollars d'économies sur quatre ans. Le lancement de Tecelra® progresse avec 9 Centres de Traitement Autorisés, et le premier patient a été soumis à une aphérèse. La société rapporte un taux de réponse global de 42 % dans l'essai pivot lete-cel IGNYTE-ESO pour le sarcome synovial et le MRCLS. Les revenus du T3 s'élevaient à 40,9 millions de dollars, et la société vise à atteindre l'équilibre opérationnel d'ici 2027.

Adaptimmune Therapeutics (NASDAQ: ADAP) berichtet über Updates zum Q3 2024 mit einer GesamtlLiquidität von 186,1 Millionen Dollar. Das Unternehmen kündigt eine strategische Umstrukturierung an, die eine geplante Reduzierung des Personals um 33 % im Q1 2025 vorsieht, mit dem Ziel, in vier Jahren etwa 300 Millionen Dollar an Kosten einzusparen. Der Start von Tecelra® verläuft gut, es gibt 9 autorisierte Behandlungszentren, und der erste Patient wurde einer Apherese unterzogen. Das Unternehmen berichtet von einer Gesamtansprechrate von 42 % in der entscheidenden lete-cel IGNYTE-ESO-Studie für synovialen Sarkom und MRCLS. Die Einnahmen im Q3 betrugen 40,9 Millionen Dollar, und das Unternehmen strebt an, bis 2027 den operativen Break-even zu erreichen.

Positive
  • First patient apheresed for Tecelra® treatment, with commercial revenues expected in Q4
  • 42% overall response rate in lete-cel IGNYTE-ESO pivotal trial
  • Projected $400 million peak year sales for combined sarcoma franchise
  • Strategic restructuring expected to save $300 million over four years
  • Q3 revenue increased to $40.9 million from $7.3 million year-over-year
Negative
  • 33% workforce reduction planned for Q1 2025
  • Cessation of SURPASS-3 Phase 2 clinical trial enrollment
  • Q3 net loss of $17.6 million
  • 25% reduction in total operating expenses planned

Insights

The Q3 update reveals significant strategic shifts and financial implications. $186.1M in total liquidity provides runway, but the planned 33% headcount reduction and $300M cost savings over 4 years signal aggressive restructuring. The company's focus on its sarcoma franchise, with projected peak sales of $400M, demonstrates a clear path to commercialization. First commercial revenues expected in Q4 from Tecelra, with 9 treatment centers operational.

Q3 revenue of $40.9M was largely driven by collaboration termination payments rather than product sales. The shift from $45.6M loss in Q3 2023 to $17.6M loss in Q3 2024 shows improving financial metrics, though primarily due to one-time events. The target for operating breakeven in 2027 appears realistic given the restructuring plans.

The 42% overall response rate in the IGNYTE-ESO pivotal trial for lete-cel is clinically meaningful, with 6 complete responses and 21 partial responses out of 64 patients. The median duration of response exceeding one year in advanced sarcoma is particularly impressive. The planned BLA submission by end of 2025 could potentially expand the company's sarcoma franchise significantly.

Tecelra's launch as the first engineered cell therapy approved for solid tumors represents a significant milestone. The planned expansion to 30 Authorized Treatment Centers by end of 2025 should cover approximately 80% of patients treated in sarcoma centers of excellence, suggesting strong commercial potential.

Tecelra® launch on track with 9 Authorized Treatment Centers available to initiate patient treatment journey, and the first patient apheresed in Q3; expect first commercial revenues in Q4 and the number of treated patients to accelerate throughout 2025

Lete-cel IGNYTE-ESO pivotal trial primary analysis reports 42% overall response rate in synovial sarcoma and myxoid/round cell liposarcoma (MRCLS); full data at CTOS conference on November 16

Company restructuring to prioritize commercial sarcoma franchise and R&D programs with highest potential return on invested capital and transformational benefit to patients

Planned 33% reduction in headcount in Q1, 2025 as part of approximately $300 million in aggregate cost savings over the next four years enables company to target an operating breakeven during 2027

At the end of Q3, Adaptimmune had Total Liquidity1 of $186.1 million

Philadelphia, Pennsylvania and Oxford, United Kingdom--(Newsfile Corp. - November 13, 2024) - Adaptimmune Therapeutics plc (NASDAQ: ADAP), a company redefining the treatment of solid tumor cancers with cell therapy, today reports financial results and business updates for the third quarter ended September 30, 2024. The Company will host a live webcast at 4:30 p.m. EST (9:30 p.m. GMT) today.

Adrian Rawcliffe, Adaptimmune's Chief Executive Officer: "With Tecelra's encouraging launch and the new positive pivotal results for lete-cel to be presented at CTOS, Adaptimmune will redefine itself as a sarcoma-focused business. We have increased confidence in our $400 million peak year sales estimate for the combined sarcoma franchise. We're creating a new leaner company, investing in only the highest potential programs and reducing our operating expenses by around $300 million over the next four years. With these actions we have a clear path to operating breakeven during 2027."

Company focuses on strategic business plan and restructuring

  • Prioritization of commercial sarcoma franchise and R&D programs with highest potential for return on invested capital and transformational benefit to patients. Tecelra launch progress and lete-cel data both support the Company's projection of combined U.S. peak year sales of $400 million for both products.

  • The Company plans to reduce headcount by approximately 33% and total operating expenses by approximately 25% in the first year as compared to anticipated full year 2024 together with a focus towards operations in the U.S.

  • The Company expects the aggregate savings over the 4-year period from 2025-2028 will be approximately $300 million, excluding one-time cost of restructuring.

  • The Company will cease enrolment in the SURPASS-3 Phase 2 clinical trial (NCT05601752), investigating uza-cel for the treatment of platinum-resistant ovarian cancer.

  • Adaptimmune's collaboration with Galapagos is underway, and plans are progressing to conduct a clinical proof-of-concept trial to evaluate the safety and efficacy of uza-cel (next-generation engineered TCR T-cell therapy, formerly ADP-A2M4CD8) using Galapagos' decentralized manufacturing platform in patients with head & neck cancer.

  • ADP-600 (targeting PRAME) and ADP-520 (targeting CD-70) will continue preclinical development towards IND submissions. The Company is engaged in active discussions to partner and expand these programs.

Tecelra® Launch

  • Tecelra® was approved by U.S. Food and Drug Administration (FDA) approved for the treatment of advanced MAGE-A4+ synovial sarcoma in adults with certain HLA types who have received prior chemotherapy.

  • Tecelra®, a single infusion, is the first new treatment option for synovial sarcoma in more than a decade and the first engineered cell therapy for solid tumors.

  • 9 Sarcoma centers of excellence across the U.S. are available as Authorized Treatment Centers (ATCs) for Tecelra® and are accepting patients and referrals from healthcare providers to initiate the Tecelra treatment journey. The Company is confident the full ATC network of approximately 30 ATCs will be active by the end of 2025, covering an estimated 80% of patients treated in sarcoma centers of excellence.

  • The first patient has been apheresed and first manufacture of Tecelra is ongoing.

Lete-cel registrational data (details are in a separate press release issued today)

Full primary analysis on 64 patients with long term follow up from pivotal IGNYTE-ESO trial has been completed and will be presented at the Connective Tissue Oncology Society (CTOS) annual meeting, being held in San Diego, CA from November 13 to 16, 2024:

  • "Planned Analysis of the Pivotal IGNYTE-ESO Trial of Lete-Cel in Patients with Synovial Sarcoma or Myxoid/Round Cell Liposarcoma (MRCLS)" by Dr. Sandra D'Angelo, M.D., Sarcoma Medical Oncology, Memorial Sloan Kettering Cancer Center, on Saturday, November 16, 10:30 AM - 12:00 PM PST, Session 12: Immunology.

  • Data demonstrate 42% of people with advanced or metastatic synovial sarcoma or MRCLS had clinical responses with lete-cel; Results include six complete responses (6/64) and twenty-one partial responses (21/64). Responses are durable, with a median duration of response of just over a year overall.

  • Adaptimmune plans to initiate a rolling Biologics License Application (BLA) for lete-cel for the treatment of advanced or metastatic MRCLS and synovial sarcoma by the end of 2025.

  • Lete-cel will bolster Adaptimmune's sarcoma franchise by expanding the addressable patient population to NY-ESO-1 positive MRCLS and synovial sarcoma solid tumors.

  • Adaptimmune will host a virtual event to review the IGNYTE-ESO dataset and the impact of engineered cell therapies on the treatment landscape in sarcoma. The event will feature Dr. Sandra D'Angelo, sarcoma medical oncologist of Memorial Sloan Kettering Cancer Center, an investigating clinician in both the SPEARHEAD and IGNYTE-ESO clinical trials, lead author and presenter of the IGNYTE-ESO data update at CTOS. To register & Attend: Adaptimmune Virtual KOL Event - LifeSci Events.

Recent data presentations

  • Translational data from the pivotal SPEARHEAD-1 trial, describing mechanisms of anti-tumor activity, durability and persistence for afami-cel (Tecelra), was presented at the Society for Immunotherapy of Cancer (SITC) 39th annual meeting by Mihaela Druta, MD, Vice Chair, Sarcoma Center, Moffitt Cancer Center, on November 8.

  • This presentation will also be encored at CTOS 2024 annual meeting, on Saturday, November 16 10:30 AM - 12:00 PM PST, Session 12: Immunology.

  • Jo Brewer, PhD., Adaptimmune's Chief Scientific Officer, delivered a platform presentation and participated in a panel discussion during SITC's Biotech Breakthroughs - Solid Tumor IO at the Tipping Point session.

Today's Webcast Details

A live webcast and replay can be accessed at https://www.gowebcasting.com/13698. Call in information is as follows: +1-844-763-8274 (US or Canada) or +1-647-484-8814 (International). Callers should dial in 10 minutes prior to the scheduled start time and simply ask to join the Adaptimmune call.

Virtual KOL Webcast Details November 18th following CTOS

Join Adaptimmune on Monday, November 18, 2024 at 2:30 PM ET for a virtual KOL event featuring Dr. Sandra D'Angelo, M.D. (Memorial Sloan Kettering Cancer Center) who will discuss the unmet need and current treatment landscape for patients with sarcoma, including synovial sarcoma (SyS) and myxoid/round cell liposarcoma (MRCLS).Register & Attend: Adaptimmune Virtual KOL Event - LifeSci Events

Financial Results for the three and nine months ended September 30, 2024

  • Cash / liquidity position: As of September 30, 2024, Adaptimmune had cash and cash equivalents of $116.7 million and Total Liquidity2 of $186.1 million, compared to $144.0 million and $146.9 million respectively, as of December 31, 2023.

  • Revenue: Revenue for the three and nine months ended September 30, 2024, was $40.9 million and $174.8 million, respectively, compared to $7.3 million and $60.1 million for the same periods in 2023. Revenue has increased in 2024, compared to the same periods in 2023 primarily due to the termination of the Genentech collaboration in the second quarter of 2024, resulting in the majority of the remaining deferred income for the collaboration being recognized as revenue including a cumulative catch-up adjustment of $101.3 million, and the Mutual Release and Recognition Agreement in the third quarter of 2024 resulting in the remaining deferred revenue of $37.5 million of revenue, including the $12.5 million payment under the Mutual Release and Recognition Agreement, being recognized as revenue in the current quarter. This was significantly higher than the impact from the termination of the Astellas collaboration in 2023, which resulted in $42.4 million of revenue being recognized in March 2023. No revenue from commercial product sales was recognized in the three and nine months to September 30, 2024.

  • Research and development (R&D) expenses: R&D expenses for the three and nine months ended September 30, 2024, were $34.3 million and $110.0 million, respectively, compared to $37.8 million and $93.3 million for the same periods in 2023. R&D expenses in the three months ended September 30, 2024, decreased due to a decrease in subcontracted expenditures primarily due to a decrease in clinical trial expenses, offset by a decrease in offsetting reimbursements receivable for research and development tax and expenditure credits. Conversely, R&D expenses in the nine months ended September 30, 2024, increased due to an increase in the average number of employees engaged in research and development following the acquisition of TCR2 in June 2023, annual salary increases, increases in property costs, increases in manufacturing facility expenditure, an increase in in-process research and development costs and a decrease in offsetting reimbursements receivable for research and development tax and expenditure credits.

  • Selling, general and administrative (SG&A) expenses: SG&A expenses for the three and nine months ended September 30, 2024, were $21.2 million and $60.1 million, respectively, compared to $16.2 million and $56.6 million for the same periods in 2023. SG&A expenses increased due to an increase in accounting, legal and professional fees in due to fees relating to business development work and preparation for commercialization, offset by a decrease in restructuring charges recognised in the first quarter of 2023 that were not repeated in 2024 and an increase in offsetting reimbursements.

  • Net (loss)/profit: Net (loss)/profit attributable to holders of the Company's ordinary shares for the three and nine months ended September 30, 2024, was a loss of $17.6 million and a profit of $3.4 million, respectively ($(0.01) and $0.00 per ordinary share), compared to losses of $45.6 million and $66.0 million ($(0.03) and $(0.06) per ordinary share), for the same periods in 2023.

About Adaptimmune
Adaptimmune is a fully integrated cell therapy company working to redefine how cancer is treated. With its unique engineered T cell receptor (TCR) platform, the Company is developing personalized medicines designed to target and destroy difficult-to-treat solid tumor cancers and to radically improve the patient's cancer treatment experience.

Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements address our expected future business, financial performance, financial condition, as well as the results of operations and often contain words such as "anticipate" "believe," "expect," "may," "plan," "potential," "will," and similar expressions. Such statements are based only upon current expectations of Adaptimmune. Reliance should not be placed on these forward-looking statements because they involve certain risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2023, our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update such forward-looking statements to reflect subsequent events or circumstances.

Total Liquidity (a non-GAAP financial measure)

Total Liquidity (a non-GAAP financial measure) is the total of cash and cash equivalents and marketable securities (available-for-sale debt securities). Each of these components appears separately in the condensed consolidated balance sheet. The U.S. GAAP financial measure most directly comparable to Total Liquidity is cash and cash equivalents as reported in the condensed consolidated financial statements, which reconciles to Total Liquidity as follows (in thousands):


 September 30,
December 31,

 2024
2023
Cash and cash equivalents $116,741
$143,991
Marketable securities - available-for-sale debt securities 
69,349

2,947
Total Liquidity $186,090
$146,938

 

The Company believes that the presentation of Total Liquidity provides useful information to investors because management reviews Total Liquidity as part of its assessment of overall solvency and liquidity, financial flexibility, capital position and leverage.

Condensed Consolidated Statement of Operations
(unaudited, in thousands, except per share data)


 Three months ended
Nine months ended

 September 30,
September 30,

 2024
2023
2024
2023
Revenue $40,901
$7,319
$174,810
$60,050
Operating expenses 
 

 

 

 
Research and development 
(34,304)
(37,788)
(109,959)
(93,301)
Selling, general and administrative 
(21,277)
(16,164)
(60,092)
(56,634)
Total operating expenses 
(55,581)
(53,952)
(170,051)
(149,935)
Operating (loss)/profit 
(14,680)
(46,633)
4,759

(89,885)
Interest income 
2,096

2,149

4,817

4,368
Interest expense 
(1,109)
-

(1,635)
-
Gain on bargain purchase 
-

(106)
-

22,049
Other income (expense), net 
(3,093)
(324)
(2,657)
(494)
(Loss)/profit before income tax expense 
(16,786)
(44,914)
5,284

(63,962)
Income tax expense 
(831)
(687)
(1,883)
(1,992)
Net (loss)/profit attributable to ordinary shareholders $(17,617)$(45,601)$3,401
$(65,954)

 
 

 

 

 
Net (loss)/profit per ordinary share 
 

 

 

 
Basic $(0.01)$(0.03)$0.00
$(0.06)
Diluted $(0.01)$(0.03)$0.00
$(0.06)

 
 

 

 

 

 
 

 

 

 
Weighted average shares outstanding: 
 

 

 

 
Basic 
1,534,613,977

1,357,849,656

1,506,565,234

1,153,791,567
Diluted 
1,534,613,977

1,357,849,656

1,537,021,778

1,153,791,567

 

Condensed Consolidated Balance Sheets
(unaudited, in thousands, except share data)


 September 30,
December 31,

 2024
2023
Assets 





Current assets 





Cash and cash equivalents $116,741
$143,991
Marketable securities - available-for-sale debt securities (amortized cost of $69,293 and $2,940) net of allowance for expected credit losses of $0 and $0 
69,349

2,947
Accounts receivable, net of allowance for expected credit losses of $0 and $0 
12,500

821
Inventory, net 
1,874

-
Other current assets and prepaid expenses 
43,750

59,793
Total current assets 
244,214

207,552

 
 

 
Restricted cash 
2,681

3,026
Other noncurrent assets 
968

-
Operating lease right-of-use assets, net of accumulated amortization of $17,243 and $13,220 
20,494

20,762
Property, plant and equipment, net of accumulated depreciation of $55,697 and $46,020 
44,796

50,946
Intangible assets, net of accumulated amortization of $5,525 and $5,155 
4,283

330
Total assets $317,436
$282,616

 
 

 
Liabilities and stockholders' equity 
 

 
Current liabilities 
 

 
Accounts payable $9,069
$8,128
Operating lease liabilities, current 
4,175

5,384
Accrued expenses and other current liabilities 
31,504

30,303
Deferred revenue, current 
18,709

28,973
Total current liabilities 
63,457

72,788

 
 

 
Operating lease liabilities, non-current 
20,455

19,851
Deferred revenue, non-current 
98,731

149,060
Borrowings, non-current 
49,865

-
Other liabilities, non-current 
4,939

1,404
Total liabilities 
237,447

243,103

 
 

 
Stockholders' equity 
 

 
Common stock - Ordinary shares par value £0.001, 2,039,252,874 authorized and 1,534,889,490 issued and outstanding (2023: 1,702,760,280 authorized and 1,363,008,102 issued and outstanding) 
2,084

1,865
Additional paid in capital 
1,102,813

1,064,569
Accumulated other comprehensive loss 
(5,136)
(3,748)
Accumulated deficit 
(1,019,772)
(1,023,173)
Total stockholders' equity 
79,989

39,513

 
 

 
Total liabilities and stockholders' equity $317,436
$282,616

 

Condensed Consolidated Cash Flow Statement
(unaudited, in thousands)


 Nine months ended

 September 30,

 2024
2023
Cash flows from operating activities 





Net profit/(loss) $3,401
$(65,954)
Adjustments to reconcile net loss to net cash used in operating activities: 
 

 
Depreciation 
8,156

6,647
Amortization 
234

322
Gain on bargain purchase 
-

(22,049)
Share-based compensation expense 
9,215

8,692
Unrealized foreign exchange losses 
3,164

709
Accretion on available-for-sale debt securities 
(544)
(1,595)
Other 
(104)
253
Changes in operating assets and liabilities: 
 

 
Decrease/(increase) in receivables and other operating assets 
5,426

(709)
Increase in inventories 
(1,869)
-
Increase/(decrease) in payables and other current liabilities 
1,173

(7,792)
Increase in noncurrent assets 
(926)
-
Increase in borrowings and other non-current liabilities 
1,480

-
Decrease in deferred revenue 
(67,808)
(44,728)
Net cash used in operating activities 
(39,002)
(126,204)

 
 

 
Cash flows from investing activities 
 

 
Acquisition of property, plant and equipment 
(667)
(3,854)
Acquisition of intangible assets 
(880)
(199)
Cash from acquisition of TCR2 Therapeutics Inc. 
-

45,264
Maturity or redemption of marketable securities 
-

139,243
Investment in marketable securities 
(65,701)
(73,026)
Other 
129

913
Net cash (used in)/provided by investing activities 
(67,119)
108,341

 
 

 
Cash flows from financing activities 
 

 
Proceeds from issuance of borrowings, net of discount 
49,500

-
Proceeds from issuance of common stock from offerings, net of commissions and issuance costs 
29,171

623
Proceeds from exercise of stock options 
77

183
Net cash provided by financing activities 
78,748

806

 
 

 
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash 
(222)
527
Net decrease in cash, cash equivalents and restricted cash 
(27,595)
(16,530)
Cash, cash equivalents and restricted cash at start of period 
147,017

109,602
Cash, cash equivalents and restricted cash at end of period $119,422
$93,072

 

Adaptimmune Contact

Investor Relations
Juli P. Miller, Ph.D. - VP, Corporate Affairs and Investor Relations
T : +1 215 825 9310
M : +1 215 460 8920
Juli.Miller@adaptimmune.com

Media Relations
Dana Lynch, Senior Director of Corporate Communications
M: +1 267 990 1217
Dana.Lynch@adaptimmune.com

________________________
1 Total liquidity is a non-GAAP financial measure, which is explained and reconciled to the most directly comparable financial measures prepared in accordance with GAAP below
2 Total liquidity is a non-GAAP financial measure, which is explained and reconciled to the most directly comparable financial measures prepared in accordance with GAAP below

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229714

FAQ

What were Adaptimmune's (ADAP) Q3 2024 financial results?

Adaptimmune reported Q3 2024 revenue of $40.9 million, a net loss of $17.6 million, and total liquidity of $186.1 million as of September 30, 2024.

What is the response rate for Adaptimmune's (ADAP) lete-cel IGNYTE-ESO trial?

The lete-cel IGNYTE-ESO pivotal trial showed a 42% overall response rate in synovial sarcoma and myxoid/round cell liposarcoma patients, including six complete responses and twenty-one partial responses.

How much cost savings is Adaptimmune (ADAP) targeting through its restructuring?

Adaptimmune is targeting approximately $300 million in aggregate cost savings over the next four years (2025-2028) through its restructuring plan.

When does Adaptimmune (ADAP) expect to reach operating breakeven?

Adaptimmune expects to reach operating breakeven during 2027.

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