2seventy bio Q1 revenue $12.4M, net loss $52.7M; FDA approved Abecma for earlier line; cash runway beyond 2027

2seventy bio, Inc.

2024-Q1 EPS reported -$1.01 revenue$12,435,000

FDA approved Abecma for triple-class exposed R/R myeloma after 2+ prior lines; sLVV manufacturing approved.
Completed R&D pipeline divestiture to Regeneron, streamlining to focus solely on Abecma commercialization.
Total revenue $12.4M (down 70% YoY); net loss $52.7M vs $47M; collaborative arrangement loss $1.2M.
Costs reduced: R&D $43.9M (down 36% YoY); SG&A $12.7M (down 39% YoY); restructuring charges $4.2M.
Cash $181.4M; expect cash runway beyond 2027; anticipate Abecma return to growth in H2 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

2seventy bio, Inc. reported the first quarter ended March 31, 2024 results: revenue $12.4 million, net income $52.7 million.

Period: the first quarter ended March 31, 2024
Revenue: $12.4 million
Net income: $52.7 million
Result: reported results

Exact text from the filing

Total revenues were $12.4 million for the three months ended March 31, 2024, compared to $41.6 million for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0001860782-24-000074

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