2seventy bio, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 05, 2024 at 07:00 am EST
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2seventy bio, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 10.68 million compared to USD 56.18 million a year ago. Net loss was USD 56.82 million compared to USD 23.14 million a year ago. Basic loss per share from continuing operations was USD 1.11 compared to USD 0.6 a year ago. Diluted loss per share from continuing operations was USD 1.11 compared to USD 0.6 a year ago.
For the full year, the company reported revenue was USD 100.39 million compared to USD 91.5 million a year ago. Net loss was USD 217.57 million compared to USD 254.15 million a year ago. Basic loss per share from continuing operations was USD 4.42 compared to USD 7.13 a year ago.
2seventy bio, Inc. is a cell and gene therapy company focused on the research, development, and commercialization of transformative treatments for cancer. The Company is focused on the commercialization and development of Abecma (idecabtagene vicleucel). Abecma is its B cell maturation antigen (BCMA)-targeted CAR T cell therapy for multiple myeloma, in collaboration with their partner Bristol Myers Squibb (BMS). ABECMA is a BCMA-directed genetically modified autologous T cell immunotherapy indicated for the treatment of adult patients with relapsed or refractory multiple myeloma after four or more prior lines of therapy, including an immunomodulatory agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody. Abecma uses a lentiviral vector (LVV), to deliver a chimeric antigen receptor (CAR), with the potential to program a patientâs own T cells to recognize the plasma cell specific BCMA, protein on the cell surface.
2SEVENTY BIO, INC. 
