Source - Alliance News

Syncona Ltd - London-based investor in healthcare companies - Notes that the loss of investee and clinical-stage biopharmaceutical company Achilles Therapeutics PLC narrows by 2.7% to $68.2 million in 2023 from $71.1 million in 2022. General and administrative costs contract by 19% to $17.0 million from $21.1 million. According to Syncona’s website, the company has a 25% stake in Achilles.

Noting important progress during 2023, Achilles Chief Executive Officer Iraj Ali says: ‘Looking ahead to 2024, we will evaluate clonal neoantigen-reactive T cells persistence and clinical activity in patients with enhanced host conditioning, and we plan to report a meaningful data update in the second half of 2024. Our financial position remains strong with more than $131 million in cash, which supports operations through 2025, including the completion of the ongoing Phase I/IIa trials.’

Current stock price: 116.86 pence per share, down 0.3% on Thursday afternoon in London

12-month change: down 22%

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