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Wednesday, May 31, 2023

Autolus Therapeutics plc (AUTL) stock is rising in aftermarket, why is this happening?

Autolus Therapeutics plc (AUTL) has experienced an incline of 5.09% in the aftermarket. However, the last trading session closed at $6.29 with a decrease of  6.12%.

Update on a manufacturing facility in Stevenage, UK

AUTL announced on 16th September 2021 that the Company’s new production plant in Stevenage, United Kingdom, has received planning clearance. Merit Holdings Limited is the general contractor of the 70,000 square foot facility, which will be leased to Autolus by the Reef Group. The current clinical trial manufacturing facility at The Cell and Gene Therapy Catapult (CGTC) will initially offer global commercial launch capacity for obecabtagene autoleucel (obe-cel), with plans to expand.

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AUTL announced the appointment of John H. Johnson

On 15th September 2021, AUTL stated that John H. Johnson is the non-executive chairman of the company’s board of directors. Dr. Martin Murphy, who was formerly chairman, will remain on the Board as a non-executive member.

Mr. Johnson has more than 30 years of expertise in the life sciences sector, which he contributes to Autolus. He is now the CEO and a director of Strongbridge Biopharma plc, a commercial-stage biopharmaceutical business listed on the NASDAQ. From November 2019 until July 2020, he was the company’s executive chairman, and from March 2015 to November 2019, he was the chairman.

He has held executive, operational, and commercial leadership roles at Eli Lilly & Company, ImClone, Johnson & Johnson, and Pfizer, and has been acknowledged as a leader in the biopharmaceutical sector.

AUTL announces the publication of obe-cel (AUTO1) Phase 1 ALLCAR19 data

AUTL reported on 1st September 2021 that the Journal of Clinical Oncology has published the Phase 1 ALLCAR19 results. Despite the majority of patients having a significant disease burden prior to lymphodepletion1, Obe-cel exhibited a good safety profile, with no patients developing high severity (grade 3) cytokine release syndrome (CRS). Three of the twenty patients had grade 3 immune effector cell-associated neurotoxicity syndrome (ICANS), which improved within 24-72 hours with corticosteroids to grade 1 or less.

Second Quarter 2021 Financial Results

AUTL announced second-quarter 2021 financial results on 5th August 2021. Cash was $216.4 million on June 30, 2021, compared to $239.0 million on March 31, 2020. The firm issued 2,069,466 ADSs under its Sales Agreement with Jefferies for a total of $14.3 million in net proceeds.

In the three months ended June 30, 2021, net overall operating expenditures were $37.7 million. The net grant income and licensing revenue of $1.6 million, compared to net operating expenses of $39.5 million. Research and development costs climbed to $32.1 million, up from $31.3 million for the same period in 2020. Cash costs climbed to $29.2 million from $26.5 million, excluding depreciation and amortization as well as share-based compensation.

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