Instil Bio, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 12, 2022 at 07:04 am EDT
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Instil Bio, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 58.99 million compared to USD 35.31 million a year ago. Basic loss per share from continuing operations was USD 0.46 compared to USD 0.27 a year ago.
For the six months, net loss was USD 113.11 million compared to USD 58.44 million a year ago. Basic loss per share from continuing operations was USD 0.88 compared to USD 0.71 a year ago.
Instil Bio, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing a cell therapy pipeline of autologous tumor infiltrating lymphocyte (TIL), therapies for the treatment of patients with cancer. It is developing a novel class of genetically engineered TIL therapies using its Co-Stimulatory Antigen Receptor (CoStAR), platform. The Company's lead CoStAR-TIL product candidate, ITIL-306, expresses a CoStAR molecule designed to recognize folate receptor alpha (Fra), a tumor-associated antigen that is expressed on numerous solid tumors, including ovarian cancer, uterine cancer, NSCLC and renal cancer. CAR-T and TCR-T therapies are cell products composed of T cells that have been genetically engineered to recognize a specific cancer-related antigen on the surface of tumor cells.