2Seventy Bio - TSVT STOCK NEWS

2seventy bio, Inc. (NASDAQ: TSVT) announced key leadership appointments, welcoming Steven Bernstein, M.D. as chief medical officer and promoting Susan Abu-Absi, Ph.D. to chief technology & manufacturing officer. Dr. Bernstein brings over 25 years of experience in oncology and translational science, while Dr. Abu-Absi has a solid background in cell and gene therapy development. The company aims to enhance its cell therapy product engine, focusing on transformative treatments for cancer patients.

2seventy bio (NASDAQ: TSVT) announced its participation in two upcoming investor conferences. The first is the SVB Leerink 10th Annual Global Healthcare Conference on February 16, 2022, at 2:20pm ET, featuring a fireside chat. The second event is the Cowen Virtual 42nd Annual Healthcare Conference on March 7, 2022, at 12:50pm ET, where the company will discuss "Novel Oncology Targets." Live webcasts will be available on 2seventy bio's website, with replays archived for 30 days.

2seventy bio provided a strong outlook for 2022, predicting $250-300M in U.S. revenue from its CAR-T product ABECMA, which has generated $150M in 2021. The company ended 2021 with approximately $360M in cash, expecting a reduced net cash spend of $220-250M in 2022. The FDA has cleared the IND for bbT369 targeting B-cell non-Hodgkin lymphoma, and a new solid tumor CAR-T program targeting MUC16 was unveiled, reflecting ongoing innovation in their pipeline.

2seventy bio has entered an option and license agreement with Novo Nordisk for developing an in vivo gene editing treatment for hemophilia A, leveraging its megaTAL™ technology. The agreement includes an upfront payment of $5 million and eligible future payments totaling $40 million. Additionally, 2seventy bio has partnered with Genevant Sciences to utilize its lipid nanoparticle technology for mRNA delivery. This collaboration is seen as a significant expansion of 2seventy bio's oncology pipeline.

2seventy bio (NASDAQ: TSVT) announced new clinical data from its oncology cell therapy portfolio at the American Society of Hematology Annual Meeting. Key highlights include updates from the Phase 1 CRB-402 study of bb21217 for multiple myeloma and analyses from the pivotal KarMMa study of ABECMA, the first CAR T cell therapy for this condition. Patients treated with ABECMA showed improved quality of life and durable responses, with 69% overall response rates and a 23.8-month median duration of response. Preclinical data for SC-DARIC33 were also presented, indicating its potential to treat pediatric AML.

2seventy bio (Nasdaq: TSVT) reported its Q3 2021 financial results, posting total revenues of $19.3 million, a slight increase from $18.4 million in Q3 2020. The company has accepted its first IND for SC-DARIC33 to treat acute myeloid leukemia, now enrolling patients in a Phase 1 study. Research and development expenses decreased to $61.1 million from $72.3 million year-over-year. Despite a net loss of $60 million, 2seventy remains optimistic about its pipeline and partnerships, particularly with Bristol Myers Squibb for ABECMA, which generated $67 million in revenue.

2seventy bio, Inc. (NASDAQ: TSVT) will participate in a fireside chat at the 5th Annual Cowen IO Next Summit on November 15 at 1:15 PM ET. A webcast will be available for 30 days post-event via their investor relations website. The company is dedicated to developing groundbreaking immuno-oncology therapies, aiming to combat cancer more effectively. Their mission focuses on translating research into actionable therapies, particularly for hematologic malignancies. For more details, visit www.2seventybio.com.

2seventy bio (NASDAQ: TSVT) has announced that it will present data from its pipeline of oncology cell therapies at the 63rd American Society of Hematology Annual Meeting from December 11-14, 2021, in Atlanta, Georgia. Highlights include new pre-clinical data on SC-DARIC33, a CD33-targeting CAR T therapy for acute myeloid leukemia, and updated results from the Phase I CRB-402 study of bb21217, a BCMA-directed CAR T therapy for multiple myeloma. Both presentations aim to showcase advancements in treatment options for hematologic malignancies.

2seventy bio officially launches as an independent, publicly traded company on Nasdaq under the symbol TSVT on November 5. The company, a spin-off from bluebird bio, presents a robust pipeline in immuno-oncology cell therapies, including the recently approved ABECMA for multiple myeloma, which garnered $67 million in its first full quarter. The company is backed by approximately $442 million in cash, ensuring operational funding into 2023. With plans for innovative clinical studies in hematologic and solid tumors, 2seventy aims to transform cancer treatment.