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2seventy bio, Inc. - TSVT STOCK NEWS

Welcome to our dedicated page for 2seventy bio news (Ticker: TSVT), a resource for investors and traders seeking the latest updates and insights on 2seventy bio stock.

2seventy bio, Inc. (TSVT) is a pioneering immuno-oncology cell therapy company committed to disrupting the cancer treatment landscape. The name '2seventy bio' reflects the speed of translating human thought into action—270 miles per hour—emphasizing the company’s focus on time and precision. The company leverages its in-depth understanding of cancer cell metabolism, genomics, and the immune response to tumor cells to develop advanced cellular therapies.

Core Business: 2seventy bio specializes in the research, development, and commercialization of transformative cancer treatments. By focusing on cellular therapies that are designed to 'think' smarter and faster than cancer, the company aims to provide innovative solutions for people living with cancer. These therapies are developed with the goal of optimizing the body's immune response to target and eliminate tumor cells effectively.

Recent Achievements and Current Projects: The company has recently entered into a significant partnership with Bristol Myers Squibb, highlighting its cutting-edge research and potential in the oncology space. Current projects at 2seventy bio include the development of new classes of cellular therapies aimed at enhancing patient outcomes and pushing the boundaries of what is possible in cancer treatment.

Financial Condition and Partnerships: Operating in a single segment focused on cancer treatments, 2seventy bio has shown strong financial health backed by strategic partnerships, such as the one with Bristol Myers Squibb. These collaborations not only provide financial stability but also accelerate the company's research and development efforts.

Products: 2seventy bio's product pipeline includes several promising candidates in various stages of development. These products are designed to offer new, effective treatment options for cancer patients, with a focus on maximizing the immune system’s ability to fight cancer.

Overall, 2seventy bio, Inc. is at the forefront of cancer therapy innovation, leveraging advanced scientific knowledge and strategic partnerships to drive its mission forward. The company's dedication to developing therapies that work faster and smarter than cancer underscores its commitment to improving the lives of those affected by this devastating disease.

News

U.S. FDA Approves Bristol Myers Squibb and 2seventy bio’s Abecma for Triple-Class Exposed Relapsed or Refractory Multiple Myeloma After Two Prior Lines of Therapy

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Abecma receives FDA approval for earlier use in treating relapsed or refractory multiple myeloma, demonstrating significant progression-free survival benefits and a well-established safety profile.
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2seventy bio Announces Completion of Oncology and Autoimmune Pipeline Divestiture to Regeneron

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2seventy bio, Inc. (Nasdaq: TSVT) has completed an asset purchase agreement with Regeneron Pharmaceuticals, Inc., focusing exclusively on the development and commercialization of Abecma, a CAR T cell therapy for multiple myeloma. The company has transferred its oncology and autoimmune research programs to Regeneron, emphasizing a new strategic direction.
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2seventy bio Announces Appointments of Eli Casdin and Charles Newton to Board of Directors

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2seventy bio, Inc. (TSVT) appoints Eli Casdin and Charlie Newton as new independent members of the Board of Directors. Casdin Capital owns 2.3% of outstanding shares. The company aims for strategic re-alignment and enhancing shareholder value.
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FDA Advisory Committee Votes in Favor of Bristol Myers Squibb’s and 2seventy bio’s Abecma for Triple-Class Exposed Multiple Myeloma in Earlier Lines of Therapy

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Bristol Myers Squibb and 2seventy bio announced positive FDA committee vote for Abecma in multiple myeloma treatment. Abecma's favorable benefit/risk profile was recognized based on KarMMa-3 study results. FDA review ongoing with no set action date yet.
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2seventy bio Reports Fourth Quarter and Full Year 2023 Financial Results and Recent Operational Progress

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2seventy bio, Inc. (Nasdaq: TSVT) reported financial results for Q4 and full year 2023, highlighting $56M U.S. commercial revenue in Q4 and $358M for the year. The company ended the quarter with $221.8M in cash, extending the cash runway beyond 2027. Abecma faced competition impacting Q4 sales, but upcoming milestones, like the ODAC meeting on March 15, 2024, offer growth potential. The company's strategic focus on Abecma includes a partnership with Bristol Myers Squibb and clinical successes with KarMMa-3 and KarMMa-2 studies.
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2seventy bio to Report Fourth Quarter and Full Year 2023 Financial Results and Participate in Upcoming Investor Conferences

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2seventy bio, Inc. (TSVT) to announce Q4 and full year 2023 financial results on March 5, 2024. Management team to present at investor conferences. Earnings call scheduled for March 5, 2024, at 8:00 a.m. ET. Webcasts available for investor conference presentations and earnings call.
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2seventy bio to Participate in Upcoming Investor Conferences

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2seventy bio, Inc. (Nasdaq: TSVT) announced that its management team will present at upcoming investor conferences, including the Guggenheim Healthcare Talks 6th Annual Biotechnology Conference and Citi’s 2024 Virtual Oncology Leadership Summit. The presentations will be available via live webcast and archived for 30 days on the company's website.
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Bristol Myers Squibb and 2seventy bio Share Update on U.S. FDA Oncologic Drugs Advisory Committee Meeting for Abecma in Triple-Class Exposed Multiple Myeloma Based on KarMMa-3 Study

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Bristol Myers Squibb and 2seventy bio, Inc. announced that the FDA will convene a virtual meeting of the Oncologic Drugs Advisory Committee to review data supporting the supplemental Biologics License Application for Abecma for triple-class exposed relapsed or refractory multiple myeloma. The meeting will focus on the secondary endpoint of overall survival from the pivotal Phase 3 KarMMa-3 study. Abecma has recently been approved in Japan and received a positive opinion for marketing authorization from the Committee for Medicinal Products for Human Use of the European Medicines Agency for patients with triple-class exposed relapsed and refractory multiple myeloma after at least two prior therapies.
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2seventy bio Announces New Strategic Path Forward

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2seventy bio, Inc. (TSVT) announced a strategic re-alignment to focus exclusively on the commercialization and development of Abecma, its BCMA-targeted CAR T therapy for multiple myeloma. The company expects annual cost savings of approximately $150 million in 2024 and $200 million in 2025, extending its cash runway beyond 2027. 2seventy bio will sell its R&D pipeline to Regeneron to launch Regeneron Cell Medicines business. Chip Baird is named the incoming CEO, and Nick Leschly is named the incoming Chairman of the Board of Directors. The company will focus on Abecma's growth commercially and return to potential third-line launch later this year. The company is taking actions to return Abecma to commercial growth in 2024, expanding its site footprint to enable more patients to access the treatment.
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Abecma Delivers Sustained Progression-Free Survival Versus Standard Regimens in Earlier Lines of Therapy for Relapsed and Refractory Multiple Myeloma Based on Longer-Term Follow-up from KarMMa-3

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Bristol Myers Squibb (BMY) and 2seventy bio, Inc. (TSVT) announced results from the final progression-free survival (PFS) analysis of KarMMa-3, a Phase 3 study evaluating Abecma in adults with relapsed and refractory multiple myeloma. Abecma maintained a 51% reduction in risk of disease progression or death with a median PFS of 13.8 months compared to 4.4 months for standard regimens. The complete response rate was 44% vs. 5% for standard regimens. Abecma demonstrated deep and durable responses in newly-diagnosed multiple myeloma with a 77% complete response rate and no new safety signals.
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FAQ

What is the current stock price of 2seventy bio (TSVT)?

The current stock price of 2seventy bio (TSVT) is $3.14 as of December 20, 2024.

What is the market cap of 2seventy bio (TSVT)?

The market cap of 2seventy bio (TSVT) is approximately 155.7M.

What is the main focus of 2seventy bio, Inc.?

2seventy bio, Inc. focuses on developing transformative cellular therapies for cancer treatment.

What inspired the name '2seventy bio'?

The name is inspired by the speed of translating human thought into action—270 miles per hour, symbolizing the company's focus on time efficiency.

What kind of therapies does 2seventy bio develop?

The company develops advanced immuno-oncology cell therapies that are designed to enhance the immune system’s ability to target and eliminate cancer cells.

Who are 2seventy bio's strategic partners?

A significant partner is Bristol Myers Squibb, which supports 2seventy bio's research and development efforts.

How does 2seventy bio leverage its understanding of cancer?

2seventy bio uses its knowledge of cancer cell metabolism, genomics, and immune response to create more effective cancer treatments.

What recent achievements has 2seventy bio made?

The company has made significant strides by partnering with Bristol Myers Squibb and advancing its innovative treatment pipeline.

What is the financial condition of 2seventy bio?

2seventy bio shows strong financial health, supported by strategic partnerships and a focused operational segment.

What are the current projects at 2seventy bio?

Current projects include developing new classes of cellular therapies aimed at improving patient outcomes in cancer treatment.

What is the company's approach to cancer therapy?

2seventy bio aims to create therapies that 'think' smarter and faster than cancer, optimizing the immune system's response.

What is the core business segment of 2seventy bio?

The company operates in a single segment, focusing on the research, development, and commercialization of cancer treatments.

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2seventy bio, Inc.

NYSE:TSVT

TSVT Rankings

#4076 Ranked by Market Cap
N/A Ranked by Dividends

TSVT Stock Data

155.75M
49.50M
4.05%
90.75%
9.88%
Biotechnology
Pharmaceutical Preparations
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United States of America
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