Shares of Autolus Therapeutics plc (AUTL) stock were rising today on June 11, 2021, following the release of the presentation data related to obe-cel in r/r Indolent B Cell Lymphomas and update of obe-cel in r/r Adult ALL by Autolus Therapeutics at European Hematology Association Virtual Congress. The AUTL stock price saw a push of 3.80% to reach $7.11 a share at the time of this writing. The stock went up by 1.63% at the previous closing. Let’s check out more about AUTL stock.
Presentation Highlights:
13 patients in Cohort D with r/r IBCL were enrolled out of which 9 patients were given AUTO1 infusion and three patients were waiting for infusion and one patient had died before lymphodepletion due to Covid-19. Adult patients with r/r low-grade B-cell lymphoma showed a favorable safety profile even though the disease had severe effects. 100% complete remission rate was achieved by Obe-cel, and all patients showed robust CAR T engraftment, expansion, and persistence.
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20 patients participated in Cohort A with r/r ALL and all were given the obe-cel. No one out of 20 patients had experienced Grade 3 or higher CRS. Three patients out of those who had severe leukemia were treated with additional steroids after experiencing Grade 3 ICANS.
Announcement of Publication in Nature Cancer:
On May 25, 2021, AUTL stock did announce the publication in Nature Cancer in which long-term durability of effect was discussed for the patients suffering from acute lymphoblastic leukemia (ALL) treated with AUTO1. Data suggested that the long-term durability of response in patients suffering from acute lymphoblastic leukemia and treated with AUTO1 was due to enriched Stem Cell Memory T cells.
First Quarter 2021 Financial Results:
- AUTL stock spent $39.9 million for operating expenses in the first quarter of 2021 which is $1.3 million higher than the operating expenses in the same period of the prior year.
- Research and development expenses for the AUTL stock were reduced to $30.7 million in the first three months of 2021 from $31.3 million in the same tenure of the previous year.
- General and administrative expenses for AUTL stock increased by $1.1 million to reach $8.7 million in the first quarter of 2021 as compared to the same quarter of the previous year.
- By the end of March 2021, $239.0 million cash was reported by AUTL stock in which net proceeds of $15.3 million resulting from the Open Market Sales Agreement with Jefferies were also included.
Conclusion:
Investors are responding to the latest announcement related to the presentation of obe-cel by AUTL stock. Autolus estimated that the current cash in hand would be sufficient for the company’s business till the first half of 2024. In a nutshell, it is better to do deep research before adding this stock to the portfolio.
