Adaptimmune outlines new strategy amid Tecelra launch By Investing.com
Adaptimmune Therapeutics (NASDAQ: NASDAQ:), in its Third Quarter 2024 Earnings Call, announced strategic shifts aimed at streamlining operations and achieving cash flow breakeven by 2027. CEO Adrian Rawcliffe highlighted the successful launch of its engineered cell therapy Tecelra, the expansion of authorized treatment centers, and the promising results from the IGNYTE-ESO trial for lete-cel, which showed a 42% overall response rate.
The company plans to cut its workforce by a third and reduce operating expenses by 25% in 2025, aiming to save up to $60 million in 2025 and $300 million by 2028. Adaptimmune reported $186 million in liquidity and anticipates modest Tecelra revenues starting Q4 2024, with significant revenue growth…
