2Seventy Bio Stock Price, News & Analysis

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.

2seventy bio reported first-quarter 2022 results, achieving $56 million in U.S. commercial revenue from ABECMA. The company remains on track to meet its revenue guidance of $250-$300 million for the year. The firm ended the quarter with $452.5 million in cash, projecting a runway into 2025. Key milestones include the enrollment of first patients in vital clinical studies for SC-DARIC33 and bbT369, with potential advancements in treatment for AML and B-NHL. The company reported a net loss of $85.7 million, reflecting ongoing investments in its operations.