Home Financial Markets Why is Autolus Therapeutics plc (AUTL) stock rising today?

Why is Autolus Therapeutics plc (AUTL) stock rising today?

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.

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