2seventy bio Reports Second Quarter Financial Results and Recent Operational Progress
2seventy bio, Inc. (TSVT)
Company Research
Source: Business Wire
Following regulatory approval in the earlier line setting this quarter, Abecma generated $54 million U.S. commercial revenue and saw meaningful growth in demandRecent completion of Hemophilia A and gene editing technology sale to Novo Nordisk for up to $40 million reinforces exclusive focus on Abecma with streamlined cost structureApproximately $28 million (43%) quarter-on-quarter reduction in operating expenses due to completion of sale of R&D business to Regeneron on April 1, 2024Ended quarter with approximately $202 million cash, cash equivalents, and marketable securities; cash runway beyond 2027Conference call today at 8:00 AM ET CAMBRIDGE, Mass.--(BUSINESS WIRE)--2seventy bio, Inc. (Nasdaq: TSVT), today reported financial results and recent highlights for the second quarter ended June 30, 2024.“This year has been transformative for 2seventy, and we enter the second half in a strong financial and operational position, poised for commercial growth,” said Chip Baird, CEO. “We dr
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