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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.

Rhea-AI Summary
Engine Capital LP, which owns approximately 3% of 2seventy bio, Inc.’s (Nasdaq: TSVT) outstanding shares, believes that the company could be conservatively worth ~$9 per share if it exclusively focuses on its most-valuable asset Abecma, reduces corporate overhead and makes improvements to the composition of the management team and board. The company is currently trading at a market capitalization of just $100 million, despite having a cash balance of $284 million and a 50% profit interest in Abecma that is likely worth at least a few hundred million dollars.
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Bristol Myers Squibb (BMY) and 2seventy bio, Inc. (TSVT) announced that the FDA's Oncologic Drugs Advisory Committee (ODAC) will review data for the sBLA for Abecma for earlier lines of triple-class exposed relapsed or refractory multiple myeloma (RRMM) based on Phase 3 KarMMa-3 study. The ODAC meeting date is pending, and the PDUFA target action date has been extended. The companies await the FDA's decision and anticipate the ODAC to review data related to the secondary endpoint of overall survival (OS). The KarMMa-3 study showed significant improvement in progression-free survival (PFS) and a consistent safety profile of Abecma. Final PFS and interim OS data will be presented at the 2023 ASH Annual Meeting. Regulatory applications for Abecma in earlier lines of therapy are under review in Japan, Europe, and Switzerland.
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2seventy bio, Inc. (Nasdaq: TSVT) - Abecma (idecabtagene vicleucel) data to be presented at ASH 2023; multiple new analyses of KarMMa-3 and KarMMa-2c add to growing body of data supporting the potential safety and efficacy of Abecma in earlier lines of treatment. Abecma generated $69 million U.S. commercial revenue in the third quarter of 2023; $302 million U.S. commercial revenue year-to-date. Two solid tumor programs positioned to enter clinical trials in 2024. Ended quarter with $284.3 million cash, cash equivalents, and marketable securities.
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2seventy bio, Inc. (Nasdaq: TSVT) to announce Q3 2023 financial results and host conference call for business update. Participants can access the live webcast on the company's website. Replay available for 30 days.
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Brian O’Callaghan appointed CEO of Deep Genomics as part of strategic plan to evolve into a forward-integrated biopharmaceutical company. Founder Brendan Frey becomes chief innovation officer. Chip Baird appointed chair of the board.
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2seventy bio, Inc. announces workforce reduction and restructuring to achieve $130+ million savings by 2024-2025
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2seventy bio and JW Therapeutics plan to expand their strategic alliance, adding up to two additional candidates from the 2seventy portfolio in solid tumor indications and autoimmune disease. The initial MAGE-A4 T-cell program is running ahead of schedule and on track to initiate an investigator-initiated study in China by the end of this year. The expansion demonstrates the success of the collaboration and aims to accelerate the development of potential new medicines with breakthrough therapeutic value.
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2seventy bio, Inc. to participate in fireside chat at Morgan Stanley Global Healthcare Conference
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2seventy bio, Inc. to announce Q2 2023 financial results on August 14, 2023 and host conference call and webcast for business update.
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FAQ

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

The current stock price of 2seventy bio (TSVT) is $4.4 as of November 1, 2024.

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

The market cap of 2seventy bio (TSVT) is approximately 228.7M.

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.

2seventy bio, Inc.

Nasdaq:TSVT

TSVT Rankings

TSVT Stock Data

228.67M
51.50M
4.07%
95.55%
10.52%
Biotechnology
Pharmaceutical Preparations
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United States of America
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