Century Therapeutics Expands Clinical Focus and Reports Steady Financials for Q3 2024

Century Therapeutics

PHILADELPHIA, PACentury Therapeutics, Inc. (NASDAQ: IPSC) has announced its financial results and business updates for the third quarter of 2024, highlighting significant progress in its clinical trials and strategic initiatives. The company is broadening the Phase 1 CALiPSO-1 trial for its innovative CNTY-101 therapy to include diffuse cutaneous systemic sclerosis and idiopathic inflammatory myopathy.

In the ongoing Phase 1 ELiPSE-1 study, CNTY-101 demonstrated an overall response rate of 83% at Dose Level 3B among patients with relapsed or refractory B-cell lymphomas, maintaining a favorable safety profile. Brent Pfeiffenberger, CEO of Century Therapeutics, commented, “Broadening our strategic focus in autoimmune indications will give us greater insight into the potential of CNTY-101 in an underserved therapeutic category that we believe is uniquely suited to allogeneic iNK cell therapies.”

Financially, Century ended the third quarter with $244.7 million in cash, cash equivalents, and investments, projecting this will sustain operations into the second half of 2026. The company reported collaboration revenue of $0.8 million for the quarter, a notable increase from the previous year. R&D expenses rose to $27.2 million, driven by the progression of key trials and increased manufacturing activities.

Century is also executing a strategic review of its pre-clinical pipeline to align with its high-value programs and has made organizational changes to enhance efficiency. The company plans to conclude and disclose the results of this review in early 2025.

With a continued focus on autoimmune diseases and innovative cell therapies, Century is poised to make significant strides in advancing its treatment portfolio and addressing unmet medical needs.

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