Adaptimmune Provides Q4 and Full Year 2024 Business Update

Core Insights - Adaptimmune is experiencing accelerating momentum with the launch of its first commercial product, Tecelra, aimed at treating sarcoma [3][5] - The company is on track to initiate a rolling Biologics License Application (BLA) submission for its next product, lete-cel, by late 2025, with approval anticipated in 2026 [5][9] - A corporate restructure was completed in February 2025, with additional cost reductions being implemented for the PRAME and CD70 programs to enhance financial sustainability [5][6] Financial Performance - As of the end of 2024, Adaptimmune reported total liquidity of $152 million, which includes cash and cash equivalents of$91.1 million and marketable securities of $60.5 million [7] - The company achieved a product revenue of$1.2 million in Q4 2024, having aphereseed 3 patients in 2024 and 10 patients in 2025 to date [5] - A significant reduction in headcount by 29% was executed in Q1 2025 as part of a broader strategy to achieve approximately $300 million in cost savings over the next four years [5] Strategic Initiatives - The company is evaluating all strategic options to maximize shareholder value amid current capital market conditions [2][5] - Adaptimmune has engaged TD Cowen to assist in evaluating strategic options for the company and its programs [5] - The company is on track to have a full network of approximately 30 Authorized Treatment Centers (ATCs) operational by the end of 2025 [5] Upcoming Milestones - The pivotal trial for Tecelra met its primary endpoint with a 42% overall response rate, including 6 complete responses [5] - The company plans to file its 2024 Annual Report on Form 10-K, which will disclose substantial doubt about its ability to continue as a going concern [6] - Adaptimmune has received recognition for its innovative contributions, including awards from Forbes and the Life Sciences PA Patient Impact Award [10]