Instil Bio Q2 net loss $2.29/share; in-licenses two assets, leases facility to AstraZeneca

Instil Bio, Inc.

2024-Q2 EPS reported -$6.03

Net loss per share $2.29 (GAAP), non-GAAP $1.57 for Q2 2024; improved from $2.87 and $2.03 in Q2 2023.
Cash, equivalents, marketable securities and long-term investments $152.6M as of June 30, expected runway beyond 2026.
In-licensed SYN-2510 (PD-L1xVEGF bispecific) and SYN-27M (ADCC-enhanced anti-CTLA-4) from ImmuneOnco for exclusive global rights outside Greater China.
Executed 15-year lease of cell therapy manufacturing facility to AstraZeneca; initial base rent >$7.5M annually escalating at 3%.
R&D expenses fell to $2.9M in Q2 2024 from $8.5M in Q2 2023; restructuring and impairment charges minimal.

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