2seventy bio, Inc. - TSVT STOCK NEWS

2seventy bio, Inc. (Nasdaq: TSVT) announced participation in two upcoming investor conferences. The first event is the Guggenheim Oncology Conference on February 9 at 9:00 am ET, held at the St. Regis New York. The second is the SVB Securities Global Biopharma Conference on February 15 at 10:00 am ET, conducted virtually. Both events will feature a fireside chat with management. Investors can access a live webcast and find a replay on the company's website, which will be available for 30 days post-event. 2seventy bio focuses on developing innovative immuno-oncology cell therapies to disrupt cancer treatment.

2seventy bio, Inc. (Nasdaq: TSVT) projects 2023 U.S. revenue for Abecma (idecabtagene vicleucel) between $470-$570M, driven by increased manufacturing capacity and positive clinical data from the KarMMa-3 study. The company aims to submit a supplemental Biologics Licensing Application in Q1 2023. Strong cash position of approximately $288M supports operations into 2025, with a focus on expanding the Abecma label and advancing other clinical studies. Noteworthy collaborations include a $20M investment from Regeneron to enhance cell therapy development.

Deep Genomics has enhanced its Board of Directors and Scientific Advisory Board with notable industry leaders to strengthen its AI-driven drug development capabilities. The new board members include Jacqueline Fok from SoftBank, Nessan Bermingham of Khosla Ventures, and William Baird, CFO of 2Seventy Bio. Experts in oligonucleotides, Arthur Krieg and Mark Edbrooke, also join the Scientific Advisory Board. This strategic move aims to advance the company's mission of utilizing AI to create innovative RNA-targeted therapeutics for genetically driven diseases.

2seventy bio announced an expanded collaboration with Regeneron to enhance cell therapy development for solid tumors. Regeneron is investing $20 million in equity and covering 100% of clinical development costs for specific trials. This partnership aims to accelerate the identification of innovative therapies through a combination of 2seventy's cell therapy platform and Regeneron's antibodies. The collaboration reflects mutual commitment to advance CAR-T and TCR programs and utilize a multi-arm approach for clinical studies.

2seventy bio (Nasdaq: TSVT) reported $75M in U.S. commercial revenue from Abecma in Q3 2022, tracking towards its revenue guidance of $250-$300M for the year. The company ended the quarter with $324.5M in cash and equivalents, anticipating a net cash spend of $245-265M in 2022. A strategic partnership with JW Therapeutics aims to enhance cell therapy development in Asia, focusing on the MAGE-A4 program. Despite a net loss of $67.9M in Q3, 2seventy bio is expanding its clinical pipeline, with new studies and collaborations underway.

2seventy bio (NASDAQ: TSVT) has announced promising data from the KarMMa-2 study regarding Abecma (idecabtagene vicleucel) for multiple myeloma patients with suboptimal transplant responses. Cohorts 2a and 2c demonstrated an overall response rate (ORR) of 83.8% and 87.1%, with 12-month progression-free survival rates of 47.9% and 90.1%, respectively. The findings support further evaluation in the upcoming KarMMa-9 study. These results underline the therapeutic potential of Abecma in newly diagnosed patients, addressing a significant unmet medical need.

2seventy bio (NASDAQ: TSVT) has announced a strategic alliance with JW Therapeutics to accelerate the development of its MAGE-A4 TCR program in solid tumors across China, Hong Kong, and Macao. The collaboration aims to expedite T cell-based immunotherapy advancements in the region. 2seventy will grant JW Therapeutics a license for the MAGE-A4 therapy, while receiving milestone payments and royalties on product revenues. The partnership underscores a commitment to addressing unmet medical needs and enhancing the regulatory pathway for cell therapies in China.

Bristol Myers Squibb reported third quarter 2022 revenues of $11.2 billion, reflecting an 8% growth in in-line and new product sales, or 13% adjusted for foreign exchange. GAAP EPS rose 9% to $0.75, while non-GAAP EPS increased 3% to $1.99. Significant milestones include FDA approval for Sotyktu, a new psoriasis treatment, and the acquisition of Turning Point Therapeutics. The company updated its 2022 GAAP EPS guidance, primarily due to the acquisition, while reaffirming non-GAAP EPS guidance.

2seventy bio, Inc. (NASDAQ: TSVT) plans to initiate the KarMMa-9 study to evaluate Abecma (idecabtagene vicleucel) in newly diagnosed multiple myeloma patients with suboptimal response to transplant. The study aims to address a significant clinical need, as this group represents over half of transplant-receiving patients. Preliminary results from the KarMMa-3 study showed Abecma significantly improved progression-free survival and overall response rate compared to standard treatments. Further data will be presented at future medical meetings.