Strong Financial Position
PureTech ended the half year with cash, cash equivalents, and short-term investments of just under $320 million, providing operational runway well into 2028.
Positive Progress with Core Founded Entities
Celea Therapeutics, Gallop Oncology, and Seaport Therapeutics are progressing well. Seaport raised over $325 million and has a $733 million post-money valuation. Celea's deupirfenidone shows promising results for IPF treatment.
Significant Upside from Cobenfy Royalties
PureTech is entitled to 2% royalties on Cobenfy sales above $2 billion annually, with a potential value of around $300 million over time.
Operational Efficiency Improvements
Operational expenses reduced significantly, with operating expenses of just under $50 million in the first half of 2025, down from $66.7 million in the same period last year.