Syncona Ltd - London-based healthcare & investment company - Reports quarterly loss for its portfolio company Autolus Therapeutics PLC as research costs rise. Net loss widens to USD42.7 million from USD39.0 million a year ago. Research & development expenses rise to USD34.0 million from USD30.7 million, Syncona explains.
Posts an interest expense cost of USD1.8 million in 2021 due to sales of future royalties for entering into an agreement with Blackstone Life Sciences V - Autobahn LP. There was no interest expense cost in 2020. Cash falls to USD268.6 million from USD310.3 million.
Autolus's clinical FELIX trial, which aims to treat patients with a form of relapsed or refractory B-cell acute lymphoblastic leukaemia, passed a futility analysis, Syncona reports. First data is expected in the second half of 2022, with full data expected in the first half of 2023, it adds.
Syncona says "good progress is being made in the build phase" of Autolus's new 70,000 square foot commercial manufacturing facility in Stevenage, Hertfordshire. The facility should be ready for operations by the second half of 2023, Syncona adds.
Meanwhile, Autolus appoints Lucinda Crabtree as new chief financial officer at the end of March, Syncona says. She replaces Andrew Oakley.
Current Syncona stock price: 173.20 pence, up 2.1% on Thursday
12-month change: down 27%
By Tom Budszus; tombudszus@alliancenews.com
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Syncona (SYNC)