Century Therapeutics, Inc. ( (IPSC) ) has released its Q4 earnings. Here is a breakdown of the information Century Therapeutics, Inc. presented to its investors.
Century Therapeutics, Inc., a biotechnology company specializing in the development of induced pluripotent stem cell (iPSC)-derived cell therapies for autoimmune diseases and cancer, has released its financial results for the full year 2024, highlighting strategic shifts and financial performance.
The company has announced a re-prioritization of its preclinical pipeline, focusing on four transformative programs, including CNTY-308 for B-cell mediated autoimmune diseases and malignancies. Additionally, Century Therapeutics has extended its cash runway into the fourth quarter of 2026, indicating a strong financial position to support its strategic initiatives.
Key financial metrics from 2024 include a net loss of $126.6 million, a decrease from the previous year’s loss of $136.7 million, and an increase in research and development expenses to $107.2 million. The company also reported collaboration revenue of $6.6 million, primarily from its agreement with Bristol-Myers Squibb. Century Therapeutics is advancing its CNTY-101 program, with data expected in 2025, and has discontinued the ELiPSE-1 trial due to unmet transformational thresholds in non-Hodgkin’s lymphoma.
Looking ahead, Century Therapeutics is poised to leverage its strong cash position and strategic focus on innovative therapies to drive value and achieve significant milestones. The company anticipates delivering data from its CALiPSO-1 trial in 2025 and initiating the CARAMEL Phase 1 trial in mid-2025, reflecting a commitment to advancing its pipeline and addressing unmet medical needs.