Full Press Release Details
Autolus Therapeutics Reports Financial and Operational Results for the
Transition Period from October 1 to December 31, 2018
- Conference Call to be held on February 25, 2019 at 8:00 am EST/12:00 pm GMT -
LONDON, February 25, 2019 Autolus Therapeutics plc (Nasdaq: AUTL), a clinical-stage biopharmaceutical company developing
next-generation programmed T cell therapies, today announced its financial and operational results for the transition period from October 1 to December 31, 2018. On December 19, 2018, the board of directors approved a change of fiscal
year end from September 30 to December 31. The Company has also filed a report on Form 20-F with the Securities and Exchange Commission for the transition period.
Key recent 2019 events and 2018 highlights include:
Manufacturing and Product Delivery
Corporate Highlights
In 2019, we expect significant progress that will build on the momentum of last year, stated Dr. Christian Itin, chairman and chief executive
officer of Autolus. Our robust pipeline of clinical and pre-clinical programs is progressing well, and we expect to move two programs into registrational trials and provide updates on all of our active
programs at conferences during the course of this year. The next scheduled data presentation will be for AUTO1 in adult acute lymphoblastic leukemia at the American Association for Cancer Research s Annual Meeting in April.
Financial results for the period from October 1 through December 31, 2018:
Conference Call and Presentation Information
Autolus management will host a conference call today, February 25, at 8:00 a.m. EST/ 1:00pm GMT to discuss the company s financial results and
To listen to the webcast and view the accompanying slide presentation, please go to:
The call may also be accessed by dialing 877-270-2148 (U.S.) and 412-902-6510 (international) and asking the operator to join the Autolus Therapeutics conference call.
After the conference call, a replay will be available for one week. To access the replay, please dial 877-344-7529 (U.S.) or 412-317-0088 (international) and enter replay access code 10129000.
About Autolus Therapeutics plc
Autolus is a clinical-stage biopharmaceutical company developing next-generation, programmed T cell therapies for the treatment of cancer. Using a
broad suite of proprietary and modular T cell programming technologies, the company is engineering precisely targeted, controlled and highly active T cell therapies that are designed to better recognize cancer cells, break down their defense
mechanisms and eliminate these cells. Autolus has a pipeline of product candidates in development for the treatment of hematological malignancies and solid tumors. For more information please visit www.autolus.com.
Forward-Looking Statement
This press release contains
forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, and in some cases can be
identified by terms such as may, will, could, expects, plans, anticipates, and believes. These statements include, but are not limited to, statements regarding
Autolus financial condition and results of operations, as well as statements regarding the anticipated development of Autolus product candidates, including its intentions regarding the timing for providing further updates on the
development of its product candidates, and the sufficiency of its cash resources. Any forward-looking statements are based on management s current views and assumptions and involve risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or implied in such statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained
in the forward-looking statements, see the section titled Risk Factors in Autolus Annual Report on Form 20-F filed on November 23, 2018 as well as discussions of potential risks,
uncertainties, and other important factors in Autolus future filings with the Securities and Exchange Commission from time to time. All information in this press release is as of the date of the release, and the company undertakes no
obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Autolous Therapeutics PLC
Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Three Months Ended December 31, | For the Year Ended September 30, | |||||||||||||||
| 2018 | 2018 | 2017 | 2016 | |||||||||||||
| Grant income | $ | 296 | $ | 1,407 | $ | 1,693 | $ | 1,212 | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | (17,713 | ) | (36,150 | ) | (16,012 | ) | (10,436 | ) | ||||||||
| General and administrative | (7,593 | ) | (22,790 | ) | (9,099 | ) | (5,152 | ) | ||||||||
| Total operating expenses, net | (25,010 | ) | (57,533 | ) | (23,418 | ) | (14,376 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 660 | 1,532 | 84 | 75 | ||||||||||||
| Other income (expense) | 1,097 | 3,970 | (46 | ) | (26 | ) | ||||||||||
| Total other income, net | 1,757 | 5,502 | 38 | 49 | ||||||||||||
| Net loss before income tax | (23,253 | ) | (52,031 | ) | (23,380 | ) | (14,327 | ) | ||||||||
| Income tax benefit | 2,605 | 7,280 | 3,653 | 1,777 | ||||||||||||
| Net loss attributable to ordinary shareholders | (20,648 | ) | (44,751 | ) | (19,727 | ) | (12,550 | ) | ||||||||
| Other comprehensive (loss) income: | ||||||||||||||||
| Foreign currency exchange translation adjustment | (5,568 | ) | (6,071 | ) | 802 | (2,942 | ) | |||||||||
| Total comprehensive loss | (26,216 | ) | (50,822 | ) | (18,925 | ) | (15,492 | ) | ||||||||
| Basic and diluted net loss per ordinary share | $ | (0.52 | ) | $ | (1.42 | ) | $ | (1.43 | ) | $ | (1.26 | ) | ||||
| Weighted-average basic and diluted ordinary shares | 39,366,634 | 31,557,034 | 13,783,222 | 9,933,399 |
Autolus Therapeutics PLC
Consolidated Balance Sheets
(In thousands, except share and per share amounts)
| December 31, | September 30, | |||||||||||
| 2018 | 2018 | 2017 | ||||||||||
| Assets | ||||||||||||
| Current assets: | ||||||||||||
| Cash | $ | 217,450 | $ | 246,984 | $ | 137,070 | ||||||
| Restricted cash | 105 | 105 | ||||||||||
| Prepaid expenses and other current assets | 15,411 | 12,189 | 5,412 | |||||||||
| Total current assets | 232,966 | 259,278 | 142,482 | |||||||||
| Non-current assets: | ||||||||||||
| Property and equipment, net | 19,968 | 13,528 | 6,180 | |||||||||
| Long-term deposits | 1,276 | |||||||||||
| Intangible assets, net | 399 | |||||||||||
| Total assets | $ | 254,210 | $ | 273,205 | $ | 148,662 | ||||||
| Liabilities and shareholders equity | ||||||||||||
| Current liabilities: | ||||||||||||
| Accounts payable | 2,022 | 3,036 | 1,946 | |||||||||
| Accrued expenses and other liabilities | 19,054 | 14,103 | 3,087 | |||||||||
| Total current liabilities | 21,076 | 17,139 | 5,033 | |||||||||
| Non-current liabilities: | ||||||||||||
| Long-term lease incentive obligation | 207 | 221 | 265 | |||||||||
| Other long-term payables | 285 | 380 | 763 | |||||||||
| Total liabilities | 21,568 | 17,740 | 6,061 | |||||||||
| Shareholders equity: | ||||||||||||
| Ordinary shares, $0.000042 par value; 200,000,000 shares authorized as of December 31, 2018 and September 30, 2018, 37,426,509 authorized as of September 30, 2017; 40,145,617, 40,146,182, and 29,962,741 shares issued and outstanding at December 31, 2018 and September 30, 2018 and 2017, respectively | 2 | 2 | 1 | |||||||||
| Deferred shares, 0.00001 par value; 34,425 shares authorized, issued and outstanding at December 31, 2018 and September 30, 2018, respectively; no shares authorized, issued or outstanding at September 30, 2017 | ||||||||||||
| Deferred B shares, 0.00099 par value; 88,893,548 shares authorized, issued and outstanding at December 31, 2018 and September 30, 2018; no shares authorized, issued or outstanding at September 30, 2017 | 118 | 118 | ||||||||||
| Deferred C shares, 0.000001 par value; 1 share authorized, issued and outstanding at December 31, 2018 and September 30, 2018; no shares authorized, issued or outstanding at September 30, 2017 | ||||||||||||
| Additional paid-in capital | 361,311 | 357,918 | 194,351 | |||||||||
| Accumulated other comprehensive loss | (15,488 | ) | (9,920 | ) | (3,849 | ) | ||||||
| Accumulated deficit | (113,301 | ) | (92,653 | ) | (47,902 | ) | ||||||
| Total shareholders equity | 232,642 | 255,465 | 142,601 | |||||||||
| Total liabilities and shareholders equity | $ | 254,210 | $ | 273,205 | $ | 148,662 |
S.A. Noonan Communications
Vice President, Corporate Affairs and
Communications, Autolus