4th Aug 2023 14:09
Syncona Ltd - Healthcare company focused on developing its life science portfolio - Notes its portfolio company Archilles Therapeutics PLC's net loss in its second quarter ended June 30 narrows 2.9% to USD16.8 million, from USD17.3 million year-on-year. Cash and cash equivalents are "strong", standing at USD143.7 million on June 30, down 17% from USD173.3 million on December 31. Research & development expenses increase are USD13.8 million, down 6.8% from USD14.8 million at the same point the year prior. Archilles Therapeutics's general & administrative expenses were USD4.3 million, down 26% from USD5.8 million the year before, driven by a change in cost allocations and lower professional fees.
"We look forward to additional clinical data in the fourth quarter of this year from our clonal neoantigen-reactive T cell therapy for the treatment of advanced non-small cell lung cancer treatment and metastatic malignant melanoma and are encouraged by the improved manufacturing performance of our VELOS Process 2," says Achilles Therapeutics Chief Executive Officer Iraj Ali.
Current stock price: up 0.7% at 151.10 pence
12-month change: down 25%
By Will Neill, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved
Related Shares:
Syncona