Welcome to our dedicated page for 2Seventy Bio news (Ticker: TSVT), a resource for investors and traders seeking the latest updates and insights on 2Seventy Bio stock.
2seventy bio, Inc. (Nasdaq: TSVT) is an immuno-oncology cell therapy company centered on Abecma (idecabtagene vicleucel; ide-cel), a BCMA-directed autologous CAR T cell therapy for adult patients with relapsed or refractory multiple myeloma after at least two prior lines of therapy. The TSVT news stream features company announcements that combine scientific, commercial, and corporate developments related to this program and its broader collaboration with Bristol Myers Squibb (BMS).
Investors and observers following TSVT news will find regular updates on Abecma’s U.S. commercial performance, including quarterly and full-year revenues as reported by BMS, trends in demand such as patients undergoing apheresis, and commentary on Abecma’s role in the multiple myeloma treatment landscape. Releases also discuss regulatory milestones, label expansions into earlier-line settings, and decisions around clinical studies such as the discontinuation of enrollment in the Phase 3 KarMMa-9 trial in newly diagnosed multiple myeloma.
Corporate and financial news for 2seventy bio includes quarterly earnings reports, changes in operating expenses, net cash spend, and cash, cash equivalents, and marketable securities. The company has reported transactions such as the sale of its oncology R&D business to Regeneron and the sale of its Hemophilia A program and gene editing technology to Novo Nordisk, which it characterizes as supporting an exclusive focus on Abecma. Conference participation and investor events, including healthcare conferences and fireside chats, are also covered in TSVT news items.
A key current theme in 2seventy bio’s news is its definitive merger agreement with Bristol Myers Squibb. News releases describe the agreed all-cash acquisition, the tender offer structure, the Hart-Scott-Rodino review process, and the expectation that, following completion of the transaction and a second-step merger, 2seventy bio’s common stock will no longer trade on Nasdaq. For readers tracking TSVT, the news page provides an evolving record of Abecma’s commercial trajectory, strategic partnerships, and the company’s pending transition into BMS.
2seventy bio (Nasdaq: TSVT) reported $75M in U.S. commercial revenue from Abecma in Q3 2022, tracking towards its revenue guidance of $250-$300M for the year. The company ended the quarter with $324.5M in cash and equivalents, anticipating a net cash spend of $245-265M in 2022. A strategic partnership with JW Therapeutics aims to enhance cell therapy development in Asia, focusing on the MAGE-A4 program. Despite a net loss of $67.9M in Q3, 2seventy bio is expanding its clinical pipeline, with new studies and collaborations underway.
2seventy bio (NASDAQ: TSVT) has announced promising data from the KarMMa-2 study regarding Abecma (idecabtagene vicleucel) for multiple myeloma patients with suboptimal transplant responses. Cohorts 2a and 2c demonstrated an overall response rate (ORR) of 83.8% and 87.1%, with 12-month progression-free survival rates of 47.9% and 90.1%, respectively. The findings support further evaluation in the upcoming KarMMa-9 study. These results underline the therapeutic potential of Abecma in newly diagnosed patients, addressing a significant unmet medical need.
2seventy bio (NASDAQ: TSVT) has announced a strategic alliance with JW Therapeutics to accelerate the development of its MAGE-A4 TCR program in solid tumors across China, Hong Kong, and Macao. The collaboration aims to expedite T cell-based immunotherapy advancements in the region. 2seventy will grant JW Therapeutics a license for the MAGE-A4 therapy, while receiving milestone payments and royalties on product revenues. The partnership underscores a commitment to addressing unmet medical needs and enhancing the regulatory pathway for cell therapies in China.
Bristol Myers Squibb reported third quarter 2022 revenues of $11.2 billion, reflecting an 8% growth in in-line and new product sales, or 13% adjusted for foreign exchange. GAAP EPS rose 9% to $0.75, while non-GAAP EPS increased 3% to $1.99. Significant milestones include FDA approval for Sotyktu, a new psoriasis treatment, and the acquisition of Turning Point Therapeutics. The company updated its 2022 GAAP EPS guidance, primarily due to the acquisition, while reaffirming non-GAAP EPS guidance.
2seventy bio, Inc. (NASDAQ: TSVT) plans to initiate the KarMMa-9 study to evaluate Abecma (idecabtagene vicleucel) in newly diagnosed multiple myeloma patients with suboptimal response to transplant. The study aims to address a significant clinical need, as this group represents over half of transplant-receiving patients. Preliminary results from the KarMMa-3 study showed Abecma significantly improved progression-free survival and overall response rate compared to standard treatments. Further data will be presented at future medical meetings.
2seventy bio, Inc. (NASDAQ: TSVT), a leader in immuno-oncology cell therapy, announced the participation of its management team in two upcoming investor conferences. The conferences are the 17th Annual Citi BioPharma Conference on September 7, 2022, in Boston, and the 2022 Morgan Stanley Global Healthcare Conference on September 14, 2022, in New York. Live webcasts will be available on the company’s website, with replays archived for 30 days. 2seventy bio focuses on developing innovative therapies for cancer treatment.
2seventy bio, Inc. (TSVT) reported $72 million in U.S. commercial revenue from ABECMA for Q2 2022, tracking towards the upper end of its $250-$300 million revenue guidance. Their KarMMa-3 trial demonstrated a significant improvement in progression-free survival for relapsed and refractory multiple myeloma patients. The company ended the quarter with $399 million in cash and marketable securities, and has revised its net cash spend guidance for 2022 to $245-$265 million. They foresee a cash runway extending into 2025.
Bristol Myers Squibb (NYSE: BMY) and 2seventy bio (NASDAQ: TSVT) announced positive topline results from the Phase 3 KarMMa-3 study, evaluating Abecma (idecabtagene vicleucel) in relapsed and refractory multiple myeloma. The trial met its primary endpoint, showing statistically significant improvement in progression-free survival versus standard treatments. Key secondary endpoints, including overall response rate, also showed improvement. No new safety signals were reported, confirming Abecma's well-established safety profile.
2seventy bio, Inc. (NASDAQ: TSVT) has announced participation in two key investor conferences. The first is the Wedbush PacGrow Healthcare Conference on August 10, 2022, at 1:10 PM ET, where they will join a panel discussion titled “A View to a Kill(er Cell) – Part 1.” The second event is the 42nd Annual Canaccord Genuity Growth Conference on August 11, 2022, at 2:30 PM ET in Boston, MA. Live webcasts will be available on 2seventy bio’s website, with replays archived for 30 days post-event.
2seventy bio, Inc. (NASDAQ: TSVT) announced its participation in the upcoming Goldman Sachs 43rd Annual Global Healthcare Conference. The event will take place on June 14, 2022, at 3:20 pm PT in Rancho Palos Verdes, CA. A live webcast will be available through the Investors and Media section of the company’s website, with an archived replay accessible for 30 days post-event. 2seventy bio is committed to pioneering cell therapies to enhance cancer treatment and focuses on delivering innovative therapies aimed at various hematologic malignancies and solid tumors.
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