Adaptimmune Announces First Quarter Financial Results | Financial Buzz

Adaptimmune Announces First Quarter Financial Results

Adaptimmune is a clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for people with cancer. The Company’s unique SPEAR® (Specific Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple solid tumors.

Adaptimmune Therapeutics plc (NASDAQ: ADAP) reported financial results for the first quarter.  As of March 31st, Adaptimmune had cash & cash equivalents of USD 86.4 Million and Total Liquidity of USD 196.4 Million.  Research and development expenses reached USD 21.3 Million compared to USD 22 Million in the same period last year.  Revenue from the GSK Collaboration and License Agreement was USD 0.8 Million. 

“After announcing responses in multiple solid tumors in January, we saw increased momentum across our trials during the first quarter of 2020, before the COVID-19 slowdown. At the same time, we raised capital and completed a strategic deal with Astellas putting us in a good financial position,” said Adrian Rawcliffe, Adaptimmune’s Chief Executive Officer. “In the coming months, we will share clinical updates at ASCO and EASL, supporting our goal to bring ADP-A2M4 to market for people with sarcoma in 2022 and to identify the next products and indications that we will take into late-stage development.”