2seventy Bio reports preliminary FY25 Abecma revenue $242M

Reports approximately $184M of cash, cash equivalents and marketable securities as of December 31; Net cash burn of $9M in the fourth quarter of 2024; path to quarterly breakeven by the end of 2025 “We are pleased to see Abecma expansion in the third line setting and recorded U.S. revenue of $242 million in 2024, within our previously issued guidance of $240 to $250 million. Fourth quarter revenue was impacted by higher deferrals of infusions into 2025. We expect the use of CAR-T in multiple myeloma will continue to grow, and while competition remains high, we believe Abecma will continue to make a meaningful difference in the lives of patients,” said Chip Baird, chief executive officer, 2seventy bio (TSVT). “Equally important is that our Abecma-focused strategy, which led to the monetization of our R&D assets and streamlining of our operations, has put us on track to achieve quarterly breakeven later this year based on our current expectations. We remain committed to maximizing value for stakeholders and look forward to sharing more detail during our earnings call next month.”