Generation Bio Reports Business Highlights and Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Generation Bio is developing T cell-selective lipid nanoparticles (LNP) for siRNA therapeutics targeting T cell-driven autoimmune diseases, with a lead target and indication expected to be announced by mid-2025 [1][3][4] - The company reported a cash balance of $185.2 million as of December 31, 2024, which is projected to fund operations into the second half of 2027 [4][5] Business Highlights - The T cell-selective LNP is designed to deliver siRNA specifically to T cells, achieving approximately 98% knockdown of the B2M protein in human T cells in studies [2][3] - This innovative approach aims to selectively modulate T cell activity involved in autoimmune diseases while minimizing off-target effects on the broader immune system [2][3] - Generation Bio plans to submit an investigational new drug (IND) application in the second half of 2026 [3] Financial Results - Cash, cash equivalents, and marketable securities decreased from $264.4 million in 2023 to $185.2 million in 2024 [4][9] - Research and development (R&D) expenses for Q4 2024 were $15.5 million, down from $27.9 million in Q4 2023, while total R&D expenses for the year were $61.3 million compared to $93.6 million in 2023 [4][11] - General and administrative (G&A) expenses for Q4 2024 were $8.7 million, down from $13.4 million in Q4 2023, with total G&A expenses for the year at $37.8 million compared to $50.9 million in 2023 [4][11] - The net loss for Q4 2024 was $21.4 million, or $0.32 per share, compared to a net loss of $35.2 million, or $0.53 per share, in Q4 2023 [5][11]