Syncona Ltd - investor in healthcare companies - Notes investee company Achilles Therapeutics PLC posts widened loss amid rising research & development costs. Pretax loss in the quarter ended March 31 widens to USD17.3 million from USD13.8 million a year ago. Research & development costs surge to USD13.0 million from USD8.9 million, mainly due to increased activity in ongoing clinical trials. Cash and equivalents on March 31 fall to USD236.9 million from USD266.3 million as of December 31. "The company anticipates that its cash and cash equivalents are sufficient to fund its planned operations into the second half of 2024," Achilles says.
Achilles is developing personalised T cell therapies for the treatment of solid tumours, specifically targeting neo-antigens.
Current stock price: 170.20 pence
12-month change: down 22%
By Tom Budszus; tombudszus@alliancenews.com
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Syncona (SYNC)