Autolus Therapeutics Reports Strong Financial Growth

By Tamara Parker • Thursday, March 20 15:14 • Permanent Link

Autolus Therapeutics PLC has reported its financial results for the full year ended December 31, 2024, along with key updates and anticipated milestones. The company's cash, cash equivalents, and marketable securities at the end of 2024 totaled $588.0 million, a significant increase from $239.6 million at the end of 2023. The loss from operations for 2024 was $241.4 million, up from $179.7 million in 2023.

The cost of sales totaled $11.4 million following the FDA approval for obe-cel. Research and development expenses increased from $130.5 million to $138.4 million, primarily due to increases in employee salaries and related costs, and manufacturing costs related to obe-cel. Selling, general, and administrative expenses also increased from $46.7 million to $101.1 million, mainly due to increased headcount supporting U.S. commercialization activities.

The net loss for 2024 was $220.7 million, compared to $208.4 million for 2023. Basic and diluted net loss per ordinary share for 2024 was $(0.86), improved from $(1.20) for 2023.

Looking at the balance sheet, the total current assets at the end of 2024 were $660.9 million, a considerable increase from $275.3 million at the end of 2023. The total assets stood at $782.7 million, up from $375.4 million in 2023. Total current liabilities also increased to $60.7 million from $44.7 million in 2023.

Autolus estimates that, with its current cash and cash equivalents and marketable securities, it is well capitalized to drive the launch and commercialization of obe-cel in the U.S., UK, and EU, as well as to advance its pipeline development plans.

The company's financial results were presented alongside key updates, including the progress of the Aucatzyl® (obecabtagene autoleucel) U.S. commercial launch and the regulatory updates for obe-cel in relapsed/refractory (r/r) adult B-cell acute lymphoblastic leukemia (ALL). Autolus also provided updates on its early-stage pipeline programs and collaborations, along with anticipated milestones for 2025.

Autolus Therapeutics PLC is an early commercial biopharmaceutical company developing, manufacturing, and delivering next-generation T cell therapies for the treatment of cancer and autoimmune disease. The market has reacted to these announcements by moving the company's shares -12.1% to a price of $1.71. Check out the company's full 8-K submission here.

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