Welcome to our dedicated page for Century Therapeutics news (Ticker: IPSC), a resource for investors and traders seeking the latest updates and insights on Century Therapeutics stock.
Century Therapeutics, Inc. (NASDAQ: IPSC) is a biotechnology company at the forefront of advancing cell therapies for cancer and autoimmune diseases. Utilizing adult stem cells, specifically induced pluripotent stem cells (iPSCs), Century Therapeutics leverages its proprietary Allo-Evasion™ technology to develop curative therapies that overcome the limitations of first-generation cell therapies.
The company's innovative platform integrates several advanced technologies including CRISPR-mediated gene editing, proprietary chimeric antigen receptors (CARs), and cutting-edge manufacturing capabilities. These combined elements enhance cell product performance, prevent host immune system rejection, and minimize development risks, positioning Century Therapeutics as a leader in the biotech sector.
Key Candidates and Achievements
- CNTY-101: An investigational CD19-targeting iPSC-derived natural killer (NK) cell therapy, CNTY-101 is designed for treating relapsed or refractory non-Hodgkin lymphoma (NHL). This product incorporates six precision gene edits and has shown promising early response signals, including complete and partial responses in clinical trials.
- Allo-Evasion™ Technology: Core to Century's strategy, this technology enables repeat dosing without the need for continual lymphodepletion, significantly improving patient outcomes. The company presented comprehensive data demonstrating the protective capabilities of its Allo-Evasion™ edits at major scientific conferences.
- Dual-Targeting CARs: Century has developed a novel CD19xCD22 bispecific CAR, demonstrating effective cytotoxicity against tumors in preclinical models, further expanding the potential applications of its therapies.
Recent News and Developments
- Clinical Trial Success: The ELiPSE-1 Phase 1 trial showcased encouraging initial data for CNTY-101, revealing its potential in treating aggressive B-cell lymphomas.
- New Partnerships and Acquisitions: The acquisition of Clade Therapeutics, a leader in iPSC-derived αβ T cells, enhances Century's pipeline, technology, and expertise in the cell therapy space.
- Financial Growth: Century recently secured $60 million in private placement funding, underscoring investor confidence in its strategic direction and potential market impact.
- Research Expansion: The company is expanding its clinical development into autoimmune disease indications, with a focus on leveraging its iPSC platform to address significant unmet medical needs.
For more detailed information about Century Therapeutics and its groundbreaking work in cell therapy, visit www.centurytx.com.
Century Therapeutics (NASDAQ: IPSC), a clinical-stage biotechnology firm, announced its participation in a fireside chat at Chardan’s 7th Annual Genetic Medicines & Cell Therapy Manufacturing Virtual Summit on April 24, 2023, at 10:30 AM ET. The chat will feature Greg Russotti, Ph.D., serving as the ad-interim CEO. This event underscores Century's focus on developing innovative cell therapies derived from induced pluripotent stem cells (iPSCs) aimed at treating cancer. The replay will be accessible for 30 days post-event on the company’s Investors page at centurytx.com. Century Therapeutics aims to address challenges in oncology by creating off-the-shelf therapies that enhance patient access and treatment efficacy, with a commitment to superior cell therapy technologies.
Century Therapeutics (NASDAQ: IPSC) announced key executive changes as of April 11, 2023. Greg Russotti, Ph.D., formerly the Chief Technology Officer, is now serving as the ad-interim Chief Executive Officer, succeeding Lalo Flores, Ph.D., who stepped down to pursue other opportunities. Additionally, Michael C. Diem, M.D., has been promoted to Chief Financial Officer, and Hy Levitsky, M.D., has rejoined the company as President of Research and Development. The Board of Directors is actively searching for a permanent CEO. Joe Jimenez, Chairman, highlighted Dr. Russotti's clinical and commercial expertise, emphasizing his capability to advance Century’s position in the cell therapy industry. The company maintains a solid balance sheet expected to fund operations into 2026, aiming to deliver innovative allogeneic cell therapies and target various cancers.
Century Therapeutics (NASDAQ: IPSC) reported significant developments in its Phase 1 ELiPSE-1 trial for CNTY-101 aimed at treating relapsed/refractory CD19 positive B-cell lymphomas. As of December 31, 2022, the company had cash, cash equivalents, and investments totaling $367.4 million, ensuring a financial runway through 2026. In 2022, the company recorded collaboration revenue of $5.2 million, while net cash provided by operations was $14.1 million. Research and development expenses rose to $97.2 million, contributing to a net loss of $130.9 million for the year. Full-year GAAP operating expenses are projected between $135 million and $145 million.
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