Development Programs - The company is developing CNTY-813 for Type 1 diabetes, with plans to move into IND-enabling studies by the end of 2025 and anticipate IND submission as early as 2026[140] - CNTY-308, a CD19-targeted CAR-iT cell therapy, is progressing towards clinical studies expected to start in 2026 following successful IND-enabling studies[141] Financial Performance - The company has not generated any revenue from product sales and does not expect to do so in the foreseeable future, relying on future collaborations for revenue[158] - Collaboration revenue for the nine months ended September 30, 2025, was $109.2 million, a significant increase from $2.4 million in 2024[176] - Total operating expenses for the three months ended September 30, 2025, were $36.1 million, slightly higher than $35.6 million in 2024[168] - Research and development expenses decreased to $22.5 million for the three months ended September 30, 2025, from $27.2 million in 2024, a reduction of $4.7 million[170] - General and administrative expenses were $6.8 million for the three months ended September 30, 2025, down from $8.4 million in 2024[171] - Interest income decreased to $1.6 million for the three months ended September 30, 2025, compared to $3.3 million in 2024[173] - The accumulated deficit as of September 30, 2025, was $772.7 million[183] Cash Flow and Financing - As of September 30, 2025, the company had cash and cash equivalents of $55.5 million and investments of $77.2 million[183] - The company anticipates needing to raise additional financing in the future to support ongoing operations and clinical trials[146] - Net cash used in operating activities was $87.8 million for the nine months ended September 30, 2025, compared to $85.9 million for the same period in 2024, reflecting a net income of $9.6 million and non-cash charges of $23.1 million[190] - Net cash provided by investing activities increased significantly to $85.1 million for the nine months ended September 30, 2025, from $16.9 million in the same period of 2024, primarily due to the sale of fixed maturity securities of $121.7 million[192] - Net cash provided by financing activities decreased to $0.1 million for the nine months ended September 30, 2025, down from $75.2 million in 2024, which included $17.8 million from an at-the-market capital raise and $56.6 million from PIPE financing[194] - The company reported a net decrease in cash, cash equivalents, and restricted cash of $2.5 million for the nine months ended September 30, 2025, compared to an increase of $6.1 million in 2024[189] - As of September 30, 2025, the company had cash, cash equivalents, and restricted cash totaling $58.7 million, along with investments of $77.2 million[206] Operational Changes - The company completed a workforce reduction of approximately 51% to focus on key clinical programs[143] - Bristol-Myers Squibb terminated its collaboration agreement effective March 12, 2025, which included a $100 million upfront payment and stock purchase[149] - The company is investing in manufacturing capabilities to improve efficiency and scalability of its iPSC cell therapy products[145] - Future capital requirements will depend on various factors, including the costs of clinical trials and regulatory approvals for current and future product candidates[187] - The company has significant contractual obligations totaling $66.4 million, with $7.99 million due within one year and $14.8 million due in the next one to three years[196] - The company experienced a $120.5 million decrease in net operating assets and liabilities during the nine months ended September 30, 2025, primarily due to a decrease in deferred revenue from the termination of a collaboration agreement[190] Economic Factors - Inflation has not had a material effect on the company's financial statements, although it has increased costs related to labor and laboratory consumables[208] - Future disruptions in financial institutions could adversely affect the company's ability to access cash and cash equivalents[207] - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to take advantage of reduced reporting requirements[198]

Core Insights - Century Therapeutics is advancing its iPSC-derived cell therapies targeting autoimmune diseases and cancer, with a focus on Type 1 diabetes (T1D) and B-cell-mediated diseases [2][5][6] Business Update - The company announced its lead iPSC-derived beta islet program for T1D, with plans to initiate IND-enabling studies by the end of 2025 and submit an IND as early as 2026 [2][5][6] - CNTY-308 is progressing through IND-enabling studies, aiming for clinical study initiation in 2026 [5][6] - CNTY-101 is continuing in a Phase 1/2 investigator-sponsored trial, with initial clinical data expected in December 2025 [6] Financial Results - As of September 30, 2025, cash, cash equivalents, and marketable securities totaled $132.7 million, down from $220.1 million at the end of 2024, with an estimated cash runway into Q4 2027 [6][10] - R&D expenses for Q3 2025 were $22.5 million, a decrease from $27.2 million in Q3 2024, primarily due to reduced personnel and manufacturing costs [6][10] - G&A expenses were $6.8 million for Q3 2025, down from $8.4 million in Q3 2024, attributed to a gain on lease modification [10] - The net loss for Q3 2025 was $34.4 million, compared to a net loss of $31.2 million for the same period in 2024 [10][13]

Core Insights - Century Therapeutics has announced its first program for Type 1 diabetes (T1D), CNTY-813, utilizing iPSC-derived beta islets engineered with Allo-Evasion™ 5.0 technology to achieve durable glycemic control without systemic immunosuppression [1][2][5] Company Overview - Century Therapeutics is a biotechnology company focused on developing induced pluripotent stem cell (iPSC)-derived cell therapies aimed at addressing autoimmune diseases and cancer [7] - The company leverages its proprietary Allo-Evasion™ technology to create off-the-shelf cell therapies that enhance patient access and offer advantages over existing treatments [7] Product Development - The CNTY-813 program aims to provide a scalable, immune-evasive beta islet therapy that could significantly improve the treatment landscape for T1D, which affects approximately 9 million people globally, including 2 million in the U.S. [4][5] - Century has generated compelling preclinical data demonstrating rapid and sustained normalization of glucose levels in diabetic mouse models, along with significant glucose-stimulated insulin secretion and engineered resistance to immune rejection [2][6] - The company plans to initiate IND-enabling studies by the end of 2025 and aims to submit an IND application to the FDA as early as 2026 [3][5] Market Opportunity - The current treatment for T1D imposes a significant financial burden on the healthcare system, with annual insulin costs in the U.S. estimated between $6 billion and $8 billion [4] - An off-the-shelf, immune-evasive beta islet therapy could provide a paradigm shift in T1D management, addressing the challenges of unpredictable glucose swings and the need for lifelong insulin [2][4]

Century Therapeutics Conference Call Summary Company Overview - **Company Name**: Century Therapeutics (Ticker: IPSC) - **Industry**: Biotechnology, specifically focused on induced pluripotent stem cells (iPSCs) and cell therapies Key Points and Arguments Clinical Programs - **CNTY-101**: An NK cell-based therapy with a CD19 CAR, currently in clinical trials in the U.S. and EU, targeting autoimmune diseases [3][20] - **CNTY-308**: A preclinical program targeting B-cell-mediated diseases, expected to enter clinical trials mid-next year [4] - **Non-Immune Cell Program**: A highly anticipated program that is not disclosed for competitive reasons but is believed to have significant potential [4] Scientific Advancements - **Cell Foundry**: Century's capability to produce adult functional cells from iPSCs, including CD4 and CD8 T cells, which are crucial for treating B-cell malignancies and autoimmune diseases [5][6] - **Alloevasion Technology**: Century is a leader in immune evasion strategies, with advancements from alloevasion 1.0 to 5.0, allowing for better protection of allogeneic cells from the patient's immune system [6][7][9] Pipeline and Efficacy - **Efficacy of T Cells**: The company claims that their iPSC-derived T cells can perform comparably to autologous T cells, with the ability to engage targets and proliferate effectively [15][16] - **Long-term Durability**: The combination of CD4 and CD8 T cells enhances long-term durability and effectiveness in tumor control [17][18] Clinical Trials and Results - **Calypso Trial**: A company-sponsored trial for CNTY-101, allowing for re-dosing without lymphodepletion, showing promise in autoimmune diseases [20][21] - **B Cell Malignancy Trial**: Previous trials demonstrated deep and sustained B cell depletion, indicating the potential for effective treatment in autoimmune diseases [23][24] Financial and Operational Updates - **Cash Runway**: The company has extended its cash runway through 2027, allowing for continued development and data collection from ongoing trials [7] - **Restructuring**: A recent restructuring has focused the company on key assets and streamlined operations [7] Additional Important Information - **Cost-Effectiveness**: The company aims to produce therapies at costs comparable to antibody treatments, which could enhance accessibility [22] - **Safety Profile**: NK cell therapies are noted for their favorable safety profile compared to T cell therapies, which can have severe side effects [22] - **Future Directions**: The company is exploring the possibility of reducing or eliminating lymphodepletion in trial designs, which could further enhance treatment options [28][29] This summary encapsulates the key insights from the conference call, highlighting Century Therapeutics' innovative approaches in the biotechnology sector, particularly in cell therapy and immune evasion strategies.

Core Insights - Century Therapeutics, Inc. is focused on developing induced pluripotent stem cell (iPSC)-derived cell therapies targeting autoimmune diseases and cancer [1][3] - Chad Cowan, Ph.D., the Chief Scientific Officer, will present at Chardan's 9th Annual Genetic Medicines Conference on October 21, 2025 [1] - The company utilizes its proprietary Allo-Evasion™ technology to enhance immune evasion in its therapies, aiming to improve patient access and treatment outcomes [3] Company Overview - Century Therapeutics is a clinical-stage biotechnology firm listed on NASDAQ under the ticker IPSC [3] - The company is advancing a pipeline of iPSC-derived cell therapies, which are designed to address significant medical needs in autoimmune diseases and cancer [3] - The therapies are produced from the company's iPSC cell foundry, indicating a focus on innovative and scalable treatment solutions [3] Presentation Details - The presentation by Chad Cowan will take place at 12:20 p.m. ET in New York, NY [1] - A live webcast of the presentation will be accessible on the company's Investors page, with an archived replay available for at least 30 days [2]

Core Insights - Century Therapeutics is a biotechnology company focused on developing induced pluripotent stem cell (iPSC)-derived cell therapies targeting autoimmune diseases and cancer [3]. Company Overview - Century Therapeutics (NASDAQ: IPSC) is in the clinical stage of developing a pipeline of iPSC-derived cell therapies [3]. - The company utilizes its iPSC cell foundry and a unique immune evasion engineering technology called Allo-Evasion™ to enhance its therapies [3]. - Century aims to create off-the-shelf cell therapies to improve patient access and offer advantages over existing cell therapies, thereby advancing treatment options [3]. Upcoming Events - Chad Cowan, Ph.D., Chief Scientific Officer of Century Therapeutics, will present at Chardan's 9th Annual Genetic Medicines Conference on October 21, 2025, at 12:20 p.m. ET in New York, NY [1]. - A live webcast of the presentation will be available on the company's Investors page, with an archived replay accessible for at least 30 days [2].

Summary of Century Therapeutics Conference Call Company Overview - **Company**: Century Therapeutics - **Ticker**: IPSC (NASDAQ) - **Focus**: Development of next-generation allogeneic cell therapies from programmable induced pluripotent stem cells (iPSCs) for autoimmune diseases and cancer [1][2] Core Technology and Pipeline - **Core Technology**: AlloVision technology, which enables the engineering of iPSC-derived cell therapies [2][5] - **Key Programs**: - **Century 308**: CD19 targeting CD4/CD8 alpha-beta CARiT cell therapy, currently in IND-enabling studies for B-cell-mediated diseases [3][5] - **Century 101**: CAR INK therapy targeting CD19, currently in clinical trials for autoimmune diseases [18][19] Clinical Development and Milestones - **Cash Runway**: Estimated to extend into Q4 2027, covering key clinical milestones [5] - **Clinical Trials**: - **Century 101**: In two Phase I trials for systemic lupus erythematosus (SLE), lupus nephritis, myositis, and systemic sclerosis [18][19] - **Century 308**: Expected to enter the clinic next year [5][18] Market Opportunity - **Autoimmune Disease Market**: Significant unmet medical need with tens of thousands of addressable patients in the U.S. for B-cell-mediated diseases [20][21] - **CAR T Therapy Market**: Current approved CAR T therapies have close to $5 billion in worldwide sales, but access remains a challenge with fewer than 30% of eligible patients receiving treatment [11][20] AlloVision Technology - **Immune Evasion**: AlloVision technology involves genetic edits to enhance the persistence of allogeneic cells and reduce rejection by the immune system [6][7] - **Holistic Protection**: AlloVision 5.0 includes multiple genetic modifications to protect against various immune rejection mechanisms [8][9] Preclinical and Clinical Data - **Century 308**: Demonstrated comparable functionality to primary T cells in preclinical studies, including IL-2 secretion and tumor control in mouse models [13][17] - **Century 101**: Established a safe and well-tolerated dose with effective B-cell depletion observed in clinical trials [22][23] Conclusion - **Future Outlook**: Century Therapeutics aims to leverage its iPSC platform and AlloVision technology to create impactful therapies for patients with severe diseases, with a focus on delivering clinical data throughout 2025 [24]

Group 1 - Century Therapeutics, Inc. is a biotechnology company focused on developing induced pluripotent stem cell (iPSC)-derived cell therapies for autoimmune diseases and cancer [1][3] - The CEO, Brent Pfeiffenberger, will present at the H.C. Wainwright 27th Annual Global Investment Conference on September 9-10, 2025, in New York [1] - The company aims to provide off-the-shelf cell therapies to enhance patient access and improve treatment outcomes in autoimmune disease and cancer care [3] Group 2 - An on-demand webcast of the company presentation will be available starting at 7:00 a.m. ET on September 5, 2025, on Century's website [2] - The webcast will be archived for at least 30 days for investor access [2] Group 3 - Century Therapeutics utilizes expertise in cellular reprogramming, genetic engineering, and manufacturing to develop its cell therapy pipeline [3] - The company is in the clinical stage and is committed to advancing the field of cell therapies [3]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-40498 Century Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware ...

Introduction & Executive Summary [CEO's Strategic Overview](index=1&type=section&id=CEO's%20Strategic%20Overview) The CEO outlined strategic priorities to focus capital on transformative cell therapy candidates and accelerate key programs - Strategic focus on potentially transformational cell therapy candidates and technologies[3](index=3&type=chunk) - Continued clinical execution of **CNTY-101** in autoimmune disease and acceleration of core preclinical programs[3](index=3&type=chunk) - IND-enabling studies are underway for **CNTY-308**, with rapid progress toward drug candidacy for the non-immune cell program[3](index=3&type=chunk) - **Brent Pfeiffenberger**, CEO, assumed the role of Board Chair, succeeding Joe Jimenez[3](index=3&type=chunk) [Key Highlights](index=1&type=section&id=Key%20Highlights) Q2 2025 highlights include ongoing CNTY-101 patient dosing, CNTY-308's advancement, a CEO leadership change, and an extended cash runway - Patient dosing is ongoing in the **CALiPSO-1 trial** for CNTY-101, with clinical data expected by **year-end 2025**[4](index=4&type=chunk) - **CNTY-308**, a CAR-iT cell therapy, is now in IND-enabling studies and is expected to progress into the clinic in **2026**[4](index=4&type=chunk) - CEO **Brent Pfeiffenberger** has been appointed to Board Chair[4](index=4&type=chunk) - Cash runway has been extended into the **fourth quarter of 2027**[4](index=4&type=chunk) Pipeline and Program Updates [CNTY-101 in Autoimmune Diseases](index=2&type=section&id=CNTY-101%20in%20Autoimmune%20Diseases) The CALiPSO-1 trial for CNTY-101 is actively enrolling patients, with initial data expected by year-end 2025 - **CALiPSO-1 trial** for CNTY-101 is progressing with continued patient enrollment and clinical trial site activations; **two patients dosed**[7](index=7&type=chunk) - Clinical data for CNTY-101 in B-cell-mediated autoimmune diseases is on track to be reported by the **end of 2025**[7](index=7&type=chunk) - **CARAMEL IIT study** activated in July, with initial patient enrollment and dosing expected in **Q3 2025**[7](index=7&type=chunk) - Preclinical data presented at EULAR 2025 Congress demonstrated CNTY-101's ability to exhibit **B cell depletion**[7](index=7&type=chunk) [CNTY-308 and Other Preclinical Programs](index=2&type=section&id=CNTY-308%20and%20Other%20Preclinical%20Program) CNTY-308 has initiated IND-enabling studies for B-cell-mediated diseases, with clinical studies planned for 2026 - **CNTY-308** initiated Investigational New Drug (IND)-enabling studies for B-cell-mediated diseases; clinical studies planned for **2026**[7](index=7&type=chunk) - Rapid progress towards drug candidacy has been made for Century's first non-immune cell therapy program engineered with **Allo-Evasion™ 5.0**[7](index=7&type=chunk) - EULAR 2025 Congress presentation supported CNTY-308's ability to deliver rapid ablation of primary B cells and **Allo-Evasion™ 5.0's** protection from allogeneic immune cells[8](index=8&type=chunk) Corporate Updates [Leadership Changes](index=3&type=section&id=Leadership%20Changes) CEO Brent Pfeiffenberger was elected Board Chair, succeeding Joe Jimenez, who transitioned to a special advisor role - **Brent Pfeiffenberger**, PharmD, Chief Executive Officer, was unanimously elected to serve as Board Chair[12](index=12&type=chunk) - **Joe Jimenez**, who served as Board Chair since 2021, transitioned to a new role as a special advisor[12](index=12&type=chunk) [Cash Runway and Strategic Focus](index=3&type=section&id=Cash%20runway%20extended) The company extended its cash runway into Q4 2027 through a workforce reduction and strategic pipeline prioritization - Cash runway extended into the **fourth quarter of 2027**[12](index=12&type=chunk) - Extension achieved through a workforce reduction in July 2025 and prioritization of pipeline development for **CNTY-101**, **CNTY-308**, and the non-immune cell program[12](index=12&type=chunk) Summary of Financial Results [Cash Position](index=3&type=section&id=Cash%20Position) The company's cash, cash equivalents, and marketable securities totaled $158.5 million as of June 30, 2025 Cash Position (in millions) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | $158.5 | $220.1 | - The company estimates its cash, cash equivalents, and investments will support operations into the **fourth quarter of 2027**[11](index=11&type=chunk) [Operating Expenses](index=4&type=section&id=Operating%20Expenses) Operating expenses for Q2 2025 saw slight decreases in both R&D and G&A compared to the prior year period Operating Expenses (Three Months Ended June 30, in millions) | Expense Type | 2025 | 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | R&D Expenses | $26.9 | $27.2 | $(0.3) | | G&A Expenses | $7.8 | $8.3 | $(0.5) | - Decrease in R&D expenses primarily due to a reduction of personnel and manufacturing costs, offset by an increase in research and laboratory costs[14](index=14&type=chunk) [Net Income (Loss)](index=4&type=section&id=Net%20Income%20(Loss)) The company reported a net loss of $32.5 million for Q2 2025, a slight increase from the $31.2 million loss in Q2 2024 Net Income (Loss) (Three Months Ended June 30, in millions) | Metric | 2025 | 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Net Loss | $(32.5) | $(31.2) | $(1.3) | About Century Therapeutics [Company Overview](index=4&type=section&id=Company%20Overview) Century Therapeutics is a clinical-stage biotechnology company developing iPSC-derived cell therapies for autoimmune diseases and cancer - Century Therapeutics is a clinical-stage biotechnology company developing **iPSC-derived cell therapies**[13](index=13&type=chunk) - The pipeline includes programs designed to address **autoimmune diseases and cancers**[13](index=13&type=chunk) - Commitment to developing **off-the-shelf cell therapies** to expand patient access and advance care[13](index=13&type=chunk) Forward-Looking Statements [Disclaimer and Risk Factors](index=5&type=section&id=Disclaimer%20and%20Risk%20Factors) This report contains forward-looking statements subject to significant risks and uncertainties that could cause actual results to differ - The press release contains forward-looking statements regarding clinical development plans and timelines[15](index=15&type=chunk) - These statements involve known and unknown risks, uncertainties, and other important factors that may cause actual results to differ materially[15](index=15&type=chunk) - The company does not plan to publicly update or revise any forward-looking statements unless required by applicable law[15](index=15&type=chunk) Financial Statements (Detailed) [Condensed Balance Sheets](index=6&type=section&id=Condensed%20Balance%20Sheets) Total assets decreased to $284.7 million while total liabilities fell significantly to $74.8 million as of June 30, 2025 Condensed Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | Change (vs. Dec 31, 2024) | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $56,878 | $58,441 | $(1,563) | | Short-term investments | $98,965 | $130,851 | $(31,886) | | Total current assets | $160,169 | $194,051 | $(33,882) | | Long-term investments | $2,690 | $30,818 | $(28,128) | | Total assets | $284,692 | $353,216 | $(68,524) | | Deferred revenue, current | $- | $109,164 | $(109,164) | | Total current liabilities | $14,948 | $129,782 | $(114,834) | | Total liabilities | $74,794 | $191,854 | $(117,060) | | Total stockholders' equity | $209,898 | $161,362 | $48,536 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20consolidated%20statements%20of%20operations) The company reported a net income of $44.0 million for the first six months of 2025, driven by significant collaboration revenue Condensed Consolidated Statements of Operations Highlights (in thousands, except per share amounts) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Collaboration Revenue | $- | $771 | $109,164 | $1,625 | | Research and development | $26,859 | $27,220 | $53,439 | $50,641 | | General and administrative | $7,805 | $8,306 | $16,212 | $17,052 | | Total operating expenses | $34,664 | $35,526 | $69,651 | $67,693 | | Net income (loss) | $(32,541) | $(31,207) | $44,019 | $(59,269) | | Net income (loss) per common share Basic | $(0.38) | $(0.38) | $0.51 | $(0.82) |