Adaptimmune Therapeutics PLC: restructuring charge — Adaptimmune reports Q3 net loss $17.6M; plans 33% headcount cut, $300M in savings through 2028

Adaptimmune Therapeutics PLC

2024-Q3 EPS reported $0.00 revenue$174,810,000

Q3 net loss $17.6M (EPS -$0.01); revenue $40.9M up from $7.3M due to Genentech/Astellas termination revenue.
Plans 33% headcount reduction in Q1 2025; expects $300M cost savings over 4 years, targeting breakeven in 2027.
Tecelra launch: 9 ATCs active, first patient apheresed; commercial revenues expected in Q4.
Lete-cel pivotal trial: 42% ORR (6 CR, 21 PR) in synovial sarcoma/MRCLS; BLA planned by end-2025.
Ended Q3 with total liquidity $186.1M; ceasing SURPASS-3 trial for ovarian cancer.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

Adaptimmune Therapeutics PLC announced a restructuring with charges of pre-tax costs of such reduction in workforce relating to employee severance and other employee-related costs may be in the region of $9-11 million affecting workforce reduction of approximately 33% (33% reduction in workforce).

Type: restructuring
Charge: pre-tax costs of such reduction in workforce relating to employee severance and other employee-related costs may be in the region of $9-11 million
Affected area: workforce reduction of approximately 33%
Headcount: 33% reduction in workforce

Exact text from the filing

of 2025. The Company estimates that the pre-tax costs of such reduction in workforce relating to employee severance and other employee-related costs may be in the region of $9-11 million with the majority of such costs being incurred in the first quarter of 2025. The Company will provide further updates as it progresses through the restructuring

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Source: SEC EDGAR

accession 0001558370-24-015525

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