Strong Cash Position and Operational Efficiency
PureTech ended the half year with just under $320 million in cash, cash equivalents, and short-term investments. Operating expenses reduced from $66.7 million in the same period last year to just under $50 million, demonstrating efficient operations.
Successful Financing and Valuation of Seaport Therapeutics
Seaport Therapeutics, a core founded entity of PureTech, raised over $325 million with a $733 million post-money valuation during its Series B round.
Progress in Core Founded Entities
Significant progress in Celea Therapeutics, Gallop Oncology, and Seaport Therapeutics with promising data in IPF and cancer treatments. Notable FDA designations for LYT-200 in Gallop Oncology.
Significant Potential from Cobenfy Royalties
PureTech holds a 2% royalty on Cobenfy sales above $2 billion annually, with potential milestones projecting around $300 million in value based on analyst forecasts.