17th May 2024 14:34
(Alliance News) - Syncona Ltd on Friday noted that Autolus Therapeutics PLC reported an increased loss amid higher operating costs.
Syncona, a London-based investor in healthcare companies, noted that Autolus reported a pretax loss of USD52.7 million for the first quarter of 2024, widening from USD39.8 million a year prior.
Notably, license revenue surged to USD10.1 million from USD1.3 million. However, general and administrative costs nearly doubled to USD18.2 million from USD9.3 million, while operating expenses classified as "other" increased to USD13.9 million from USD677,000.
Autolus expects initial clinical data from a phase 1 dose confirmation study in refractory systemic lupus erythematosus patients in late 2024.
Syncona holds a stake of around 14% in Autolus.
Syncona shares fell 2.9% to 107.00 pence each on Friday afternoon in London.
By Tom Budszus, Alliance News slot editor
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