4th Apr 2024 17:06
Syncona Ltd - London-based investor in healthcare companies - Notes that the loss of investee and clinical-stage biopharmaceutical company Achilles Therapeutics PLC narrows by 2.7% to USD68.2 million in 2023 from USD71.1 million in 2022. General and administrative costs contract by 19% to USD17.0 million from USD21.1 million. According to Syncona's website, the company has a 25% stake in Achilles.
Noting important progress during 2023, Achilles Chief Executive Officer Iraj Ali says: "Looking ahead to 2024, we will evaluate clonal neoantigen-reactive T cells persistence and clinical activity in patients with enhanced host conditioning, and we plan to report a meaningful data update in the second half of 2024. Our financial position remains strong with more than USD131 million in cash, which supports operations through 2025, including the completion of the ongoing Phase I/IIa trials."
Current stock price: 116.86 pence per share, down 0.3% on Thursday afternoon in London
12-month change: down 22%
By Tom Budszus, Alliance News slot editor
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