15th Aug 2023 13:56
Syncona Ltd - London-based healthcare investor - Notes second quarter results announcement from its Nasdaq-listed portfolio company Freeline Therapeutics Holdings PLC. Says the key highlights include Freeline completing the dosing in the first dose cohort of the phase 1/2 trial of FLT201 in Gaucher disease, following dosing of the second patient. Says initial clinical data from the FLT201 trial is expected in the second half of 2023. Also says Freeline has a cash position of USD38.8 million at June 30 compared to USD55.4 million on March 31, which Freeline expects will enable the company to fund its planned operations into the second quarter of 2024. Freeline says net income in the three months that ended June 30 narrowed to USD14.8 million from USD51.1 million a year earlier.
On Thursday last week, Syncona said net asset value at June 30 fell 1.0% to 184.6 pence per share from 186.5p on March 31. NAV total return also was negative 1.0% for the recent three months, Syncona's financial first quarter. It said performance was hurt by "negative foreign exchange movements" across its life science portfolio. This was valued at GBP628.7 million on June 30, up 4.0% from GBP604.6 million on March 31.
Current stock price: 150.40 pence, down 0.8%
12-month change: down 25%
By Greg Rosenvinge, Alliance News reporter
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