3rd Nov 2022 11:50
(Alliance News) - Syncona Ltd on Thursday noted that its portfolio company Autolus Therapeutics PLC had widened its third quarter loss as it continued to progress its candidate pipeline.
Autolus is a clinical-stage biopharmaceutical company focused on the development and commercialisation of T-cell immunotherapy products to combat cancer.
Syncona invests in healthcare companies. The London-based firm said its strategy is to "found, build and fund companies around exceptional science to create a diversified portfolio of 15 to 20 globally leading healthcare businesses."
In the third quarter of 2022, Autolus Therapeutics reported a pretax net loss of USD48.9 million, widened from USD39.4 million the previous year.
It reported license revenue of USD2.4 million in the quarter, compared to none last year, but received no grant income, compared to USD236,000 the year prior.
In the same period, research & development costs rose to USD37.6 million from USD32.3 million, primarily relating to the company's obecabtagene autoleucel clinical product candidate.
Syncona did not comment directly on the portfolio firm's results.
Shares in Syncona were down 0.5% at 180.13 pence on Thursday morning in London.
By Heather Rydings; [email protected]
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