Financial Performance - In the three months ended March 31, 2025, the company recognized net income of $0.5 million and used $11.0 million of cash in operations [147]. - Total service revenue for the three months ended March 31, 2025, was $3.773 million, a decrease from $7.721 million in the same period of 2024 [153]. - Total revenue for Q1 2025 was $22.9 million, an increase of $10.5 million from $12.4 million in Q1 2024, primarily driven by a rise in collaborative arrangement revenue from BMS [175]. - The company recorded a net income of $0.5 million in Q1 2025, a turnaround from a net loss of $52.7 million in Q1 2024, reflecting an improvement of $53.2 million [183]. - Net cash used in operating activities was $11.0 million in Q1 2025, a decrease from $41.9 million in Q1 2024, indicating improved cash flow management [184]. Collaborative Arrangements - Collaborative arrangement revenue from the U.S. Abecma collaboration with BMS was $19.144 million for the three months ended March 31, 2025, compared to $4.714 million in 2024 [153]. - The company's share of profits from the Abecma U.S. collaboration was $18.138 million for the three months ended March 31, 2025, compared to a loss of $1.975 million in 2024 [155]. - Collaborative arrangement revenue increased by $14.4 million to $19.1 million in Q1 2025, attributed to higher Abecma sales and reduced cost of goods sold [175]. Research and Development - Research and development expenses primarily consist of costs incurred for the development of Abecma in collaboration with BMS [158]. - Research and development expenses decreased significantly to $5.4 million in Q1 2025 from $43.9 million in Q1 2024, a reduction of $38.5 million [176]. Expenses and Costs - Selling, general and administrative expenses rose to $14.8 million in Q1 2025, up by $2.2 million from $12.7 million in Q1 2024, mainly due to increased facility costs [177]. - Costs associated with Abecma include clinical trials, sales, marketing, and manufacturing [194]. Future Outlook and Financing - The company anticipates continuing to generate operating losses and negative operating cash flows for the near future [147]. - The company expects the 2024 Restructuring Plan to be substantially complete in the first half of 2025, with a workforce reduction of approximately 14% [165]. - The company anticipates pursuing additional financing options, including a potential sale of shares of up to $150.0 million under the ATM facility established in November 2022 [182]. - Future funding requirements may increase significantly due to various factors, including clinical trial costs and employee hiring [192]. - The company may need to finance operations through public or private equity offerings, debt financings, or collaborations, which could lead to dilution of common stockholders [193]. - If unable to raise additional funds, the company may delay or reduce product development for Abecma [195]. Regulatory and Operational Updates - The FDA approved Abecma for the treatment of adult patients with relapsed or refractory multiple myeloma after two or more prior lines of therapy on April 4, 2024 [143]. - The company announced the discontinuation of enrollment in the Phase 3 KarMMa-9 study on September 25, 2024 [143]. - Regeneron agreed to sublease facilities, which is expected to cover a majority of future minimum commitments through 2027 [196]. - The company has elected to take advantage of an extended transition period for new accounting standards applicable to public companies [197]. - As a smaller reporting company, the company is not required to provide certain market risk disclosures [198]. Merger and Acquisition - The total equity value of the BMS merger agreement is approximately $286 million, with a tender offer price of $5.00 per share [146].

2seventy bio Reports First Quarter Financial Results and Provides Update on Proposed Acquisition by Bristol Myers Squibb Acquisition by Bristol Myers Squibb on track to close in the second quarter of 2025: HSR waiting period expired on May 2, 2025; tender offer expected to expire on May 13, 2025 Abecma generated $59 million U.S. commercial revenue in the first quarter of 2025 Ended quarter with approximately $173 million in cash, cash equivalents, and marketable securities CAMBRIDGE, Mass.— (BUSINESS WIRE)— ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40791 2seventy bio, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organiza ...

2seventy bio Reports Preliminary* Full-Year U.S. Abecma Sales and Select Financial Results $242 million in U.S. Abecma sales in 2024 Approximately $184 million of cash, cash equivalents and marketable securities as of December 31, 2024 Net cash burn of $9 million in the fourth quarter of 2024; path to quarterly breakeven by the end of 2025 CAMBRIDGE, Mass -- [BUSINESS WIRE] -- February 6, 2025 -- 2seventy bio, Inc. (Nasdaq: TSVT) today provided full-year Abecma® (idecabtagene vicleucel; ide-cel) sales resul ...

2seventy bio, Inc. (TSVT) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a ch ...

NEW YORK, March 12, 2025 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating 2seventy bio, Inc. (NASDAQ: TSVT), relating to the proposed merger with Bristol Myers Squibb. Under the terms of the agreement, Bristol Myers Squibb will acquire 2seventy bio, with ...

Shares of 2seventy bio, Inc. (TSVT) gained 5.26% after the company announced a definitive merger agreement with Bristol Myers Squibb (BMY) .Per the terms of the deal, BMY will acquire all of the outstanding shares of 2seventy bio for $5.00 per share in an all-cash transaction for a total equity value of approximately $286 million, or $102 million net of estimated cash. The deal represents an 88% premium to TSVT’s closing price of $2.66 on March 7, 2025.Investors cheered the premium offered and shares gained ...

Core Viewpoint - Rowley Law PLLC is investigating potential securities law violations related to the proposed acquisition of 2seventy bio, Inc. by Bristol Myers Squibb, which is valued at approximately $286 million [1] Group 1: Acquisition Details - The proposed acquisition will provide stockholders of 2seventy bio with $5.00 for each share they hold [1] - The transaction is expected to close in the second quarter of 2025 [1] Group 2: Legal Investigation - Rowley Law PLLC is representing shareholders in the investigation concerning the acquisition [1] - The firm specializes in class actions and derivative lawsuits in complex corporate litigation [3]

Acquisition Details - Bristol Myers Squibb & Co (BMY) has agreed to acquire 2seventy bio, Inc (TSVT) at $5.00 per share, totaling an equity value of approximately $286 million, or $102 million net of estimated cash, representing an 88% premium to TSVT's closing price of $2.66 on March 7, 2025 [1] - The acquisition is expected to close in the second quarter of 2025 [1] Financial Implications - The decision to acquire 2seventy bio is anticipated to conserve over $80 million in near-term expenditures and accelerate the path to breakeven for 2seventy bio in 2025, according to the CEO Chip Baird [3] Recent Developments - In September, the companies discontinued enrollment in the Phase 3 KarMMa-9 study of Abecma for newly diagnosed multiple myeloma patients [2] - The FDA approved Abecma for adult patients with relapsed or refractory multiple myeloma after two or more prior lines of therapy in April 2024 [4] Market Reaction - Following the acquisition announcement, TSVT stock increased by 76.4% to $4.9, while BMY stock decreased by 1.04% to $62.45 during the premarket session [4]

2seventy bio, Inc. (TSVT) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a chan ...