2seventy bio, Inc. (TSVT) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $1 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -28.57%. A quarter ago, it was expected that this company would post a loss of $0.35 per share when it actually produced a loss of $0.29, delivering a surprise of 17.14%.Over the last four quarters, the company has surpass ...

NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of 2seventy bio, Inc. ("2seventy bio" or "the Company") (NASDAQ: TSVT). Investors who purchased 2seventy bio securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/TSVT. Investigation Details On September 25, 2024, 2seventy bio issued a press release announcing that it "will dis ...

2seventy bio, Inc. (TSVT) announced that it will discontinue enrollment in its ongoing phase III KarMMa-9 study. The study is evaluating Abecma (idecabtagene vicleucel; ide-cel) with Revlimid (lenalidomide) maintenance versus lenalidomide maintenance alone in patients with newly diagnosed multiple myeloma (NDMM) who have a suboptimal response to autologous stem cell transplant. Shares of TSVT were down 9.4% on the news. Year to date, TSVT's shares have gained 1.2% against the industry's decline of 3.5%. Ima ...

2seventy bio, Inc. (TSVT) came out with a quarterly loss of $0.29 per share versus the Zacks Consensus Estimate of a loss of $0.35. This compares to loss of $0.83 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 17.14%. A quarter ago, it was expected that this company would post a loss of $0.72 per share when it actually produced a loss of $0.81, delivering a surprise of -12.50%. Over the last four quarters, the company has su ...

2seventy bio, Inc. (NASDAQ:TSVT) is a biotechnology company that develops and distributes Abecma (idecabtagene vicleucel). This is an FDA-approved CAR T cell therapy for multiple myeloma [MM], targeting the B-cell maturation antigen [BCMA]. Abecma has significantly advanced MM treatment and received an FDA extension for relapsed and refractory cases after at least two prior therapies [rrMM]. TSVT seems focused on Abecma now, which has pros and cons. However, I think its relatively cheap valuation makes it a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 FORM 10-Q ☐ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________ For the quarterly period ended March 31, 2024 Commission file number 001-40791 2seventy bio, Inc. (Exact name of registrant as specified in its charter) Delaware 86-3658454 (State or other jurisd ...

2seventy bio, Inc. (NASDAQ:TSVT) Q1 2024 Earnings Conference Call May 8, 2024 8:00 AM ET Company Participants Jenn Snyder - Senior Vice President, Corporate Affairs Chip Baird - Chief Executive Officer Vicki Eatwell - Chief Financial Officer Anna Truppel-Hartmann - Chief Medical Officer Conference Call Participants Rabib Chaudhury - Leerink Partners Matt Leskowitz - Goldman Sachs Kelsey Goodwin - Guggenheim Securities Morgan Gryga - Morgan Stanley John Newman - Canaccord Genuity Operator Good day and thank ...

2seventy bio Reports First Quarter Financial Results and Recent Operational Progress U.S. FDA Approval of Abecma for Triple-Class Exposed Relapsed or Refractory Multiple Myeloma After Two Prior Lines of Therapy; Commercial Launch Underway Completion of R&D Pipeline Divestiture to Regeneron Sets Company on Track to Focus Exclusively on Development and Commercialization of Abecma with Streamlined Cost Structure Abecma generated $52 million U.S. commercial revenue in the first quarter of 2024 Ended quarter wit ...

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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 86-3658454 (I.R.S. Employer Identification Number) 60 Binney Street ...

Financial Data and Key Metrics Changes - In Q4 2023, ABECMA US revenues reported by Bristol-Myers Squibb were $56 million, reflecting a decline due to ongoing competition from other BCMA targeted therapies [25] - Collaborative arrangement revenue for Q4 2023 was $2 million, with total collaborative revenue for the year at $50 million [26] - The company ended the year with $221.8 million in cash, cash equivalents, and marketable securities, expecting annual savings of approximately $150 million in 2024 and $200 million in 2025 [27] Business Line Data and Key Metrics Changes - The decline in ABECMA sales in Q4 was attributed to competitive dynamics, with expectations that performance will improve following the potential label expansion to the third-line plus setting [25][26] - The company anticipates collaborative arrangement revenue to grow significantly as ABECMA returns to commercial growth [27] Market Data and Key Metrics Changes - The company is preparing for the upcoming ODAC meeting, focusing on overall survival data from the KarMMA-3 study, which showed benefits for ABECMA when adjusted for crossover [20][21] - Regulatory responses have been positive in Japan, Switzerland, and the EU, which supports confidence in potential US approval [21] Company Strategy and Development Direction - The company has embarked on a new strategic path focused solely on ABECMA, including an asset purchase agreement with Regeneron to acquire its R&D pipeline [18][19] - Efforts are being made to expand the site footprint and differentiate ABECMA's safety and efficacy profile using real-world data [22][23] Management's Comments on Operating Environment and Future Outlook - Management believes the myeloma market will not be a winner-take-all scenario, indicating a significant market opportunity as they expand into the third-line plus setting [1] - The company is optimistic about ABECMA's potential to return to growth, supported by an extended cash runway and a path to potential breakeven by 2025 [24][27] Other Important Information - The management team includes Chip Baird as Incoming CEO and Vicki Eatwell as Incoming CFO, with a focus on navigating the current challenges while maintaining the mission [5][28] Q&A Session Summary Question: How does the toxicity profile of ABECMA compare to competitors? - Management acknowledged the importance of the toxicity profile as they move into earlier-line settings, emphasizing that ABECMA has a favorable profile compared to other products [11][36] Question: What key data supports overall survival for ABECMA? - The overall survival data is confounded by crossover, but when adjusted, it favors ABECMA, which is crucial for discussions at the ODAC meeting [15] Question: What are the utilization trends for ABECMA? - Utilization trends vary by site, with no specific patient niche identified, indicating a broad application across different patient types [41][48] Question: How is the site footprint being expanded? - The company is increasing the number of sites to make ABECMA more accessible, particularly for later-line patients who may face travel difficulties [39][44]