Century Therapeutics, Inc. Stock Price, News & Analysis

Century Therapeutics (NASDAQ: IPSC), a clinical-stage biotechnology firm, announced its participation in a fireside chat at Chardan’s 7th Annual Genetic Medicines & Cell Therapy Manufacturing Virtual Summit on April 24, 2023, at 10:30 AM ET. The chat will feature Greg Russotti, Ph.D., serving as the ad-interim CEO. This event underscores Century's focus on developing innovative cell therapies derived from induced pluripotent stem cells (iPSCs) aimed at treating cancer. The replay will be accessible for 30 days post-event on the company’s Investors page at centurytx.com. Century Therapeutics aims to address challenges in oncology by creating off-the-shelf therapies that enhance patient access and treatment efficacy, with a commitment to superior cell therapy technologies.

Century Therapeutics (NASDAQ: IPSC) announced key executive changes as of April 11, 2023. Greg Russotti, Ph.D., formerly the Chief Technology Officer, is now serving as the ad-interim Chief Executive Officer, succeeding Lalo Flores, Ph.D., who stepped down to pursue other opportunities. Additionally, Michael C. Diem, M.D., has been promoted to Chief Financial Officer, and Hy Levitsky, M.D., has rejoined the company as President of Research and Development. The Board of Directors is actively searching for a permanent CEO. Joe Jimenez, Chairman, highlighted Dr. Russotti's clinical and commercial expertise, emphasizing his capability to advance Century’s position in the cell therapy industry. The company maintains a solid balance sheet expected to fund operations into 2026, aiming to deliver innovative allogeneic cell therapies and target various cancers.

Century Therapeutics (NASDAQ: IPSC) reported significant developments in its Phase 1 ELiPSE-1 trial for CNTY-101 aimed at treating relapsed/refractory CD19 positive B-cell lymphomas. As of December 31, 2022, the company had cash, cash equivalents, and investments totaling $367.4 million, ensuring a financial runway through 2026. In 2022, the company recorded collaboration revenue of $5.2 million, while net cash provided by operations was $14.1 million. Research and development expenses rose to $97.2 million, contributing to a net loss of $130.9 million for the year. Full-year GAAP operating expenses are projected between $135 million and $145 million.

Century Therapeutics (NASDAQ: IPSC) announced preclinical data from its iPSC-based cell therapy platform will be presented at the AACR Annual Meeting on April 17, 2023. The poster, titled 'iPSC-derived CAR-NK cell therapy: nominating clinical candidate clones through integrated multi-functional analysis', features abstract number 2914 and will be presented by Michael Hall, PhD from the company. This clinical-stage biotechnology firm focuses on developing innovative cell therapies to target cancer, leveraging adult stem cells to provide improved treatment options and broader patient access. For more details, visit Century Therapeutics.