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Syncona Ltd - London-based investor in healthcare companies - Notes third-quarter results of investee Freeline Therapeutics Holdings PLC. Freeline's pretax loss in the third quarter that ended September 30 narrows to $65.9 million from $105.7 million a year prior. Research & development expenses decrease to $53.6 million from $70.8 million, and total operating expenses fall by 27% to $78.6 million from $108.0 million. Freeline continues to make no revenue. Freeline enters a definitive agreement to sell its chemistry, manufacturing & control focused German subsidiary and related intellectual property for $25 million, with the sale being subject to price adjustments.
Current Syncona stock price: 188.30 pence, down 1.0% on Tuesday
12-month change: down 6.8%
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