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Century Therapeutics Reports First Quarter 2025 Financial Results and Provides Business Update
Century TherapeuticsCentury Therapeutics(US:IPSC) Globenewswireยท2025-05-15 20:01

Core Insights - Century Therapeutics is advancing its pipeline of induced pluripotent stem cell (iPSC)-derived therapies for autoimmune diseases and cancer, with significant progress reported in the first quarter of 2025 [1][2]. Financial Results - As of March 31, 2025, the company reported cash, cash equivalents, and marketable securities totaling $185.8 million, down from $220.1 million at the end of 2024, which is expected to support operations into Q4 2026 [11]. - Collaboration revenue for the first quarter of 2025 was $109.2 million, a substantial increase from $0.9 million in the same period of 2024, attributed to a collaboration agreement with Bristol-Myers Squibb, which was terminated on March 12, 2025 [11]. - Research and Development (R&D) expenses rose to $26.6 million in Q1 2025 from $23.4 million in Q1 2024, primarily due to increased clinical trial costs [11]. - General and Administrative (G&A) expenses decreased slightly to $8.4 million from $8.7 million year-over-year [11]. - The company reported a net income of $76.6 million for Q1 2025, compared to a net loss of $28.1 million in Q1 2024 [11]. Pipeline Developments - The company is on track to initiate Investigational New Drug (IND)-enabling studies for its lead preclinical program, CNTY-308, in mid-2025 [2][11]. - Patient dosing has commenced in the Phase 1 CALiPSO-1 trial for CNTY-101, with plans to expand into additional U.S. and European sites [5][6]. - Presentations at the ASGCT 28th Annual Meeting highlighted advancements in the preclinical pipeline, including improvements in anti-tumor activity of iPSC-derived immunotherapies [4][5]. Strategic Focus - Century Therapeutics is committed to developing off-the-shelf cell therapies to enhance patient access and improve treatment outcomes for autoimmune diseases and cancers [9]. - The company is leveraging its expertise in cellular reprogramming and genetic engineering to create scalable and accessible CAR-T cell therapies [7][11].