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Syncona Ltd - Healthcare company focused on developing its life science portfolio - Notes its portfolio company Archilles Therapeutics PLC’s net loss in its second quarter ended June 30 narrows 2.9% to $16.8 million, from $17.3 million year-on-year. Cash and cash equivalents are ‘strong’, standing at $143.7 million on June 30, down 17% from $173.3 million on December 31. Research & development expenses increase are $13.8 million, down 6.8% from $14.8 million at the same point the year prior. Archilles Therapeutics’s general & administrative expenses were $4.3 million, down 26% from $5.8 million the year before, driven by a change in cost allocations and lower professional fees. ‘We look forward to additional clinical data in the fourth quarter of this year from our clonal neoantigen-reactive T cell therapy for the treatment of advanced non-small cell lung cancer treatment and metastatic malignant melanoma and are encouraged by the improved manufacturing performance of our VELOS Process 2,’ says Achilles Therapeutics Chief Executive Officer Iraj Ali. Current stock price: up 0.7% at 151.10 pence 12-month change: down 25% Copyright 2023 Alliance News Ltd. All Rights Reserved
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