2seventy Bio Shares Jump On Positive Data From Bristol Myers-Partnered Cancer Immunotherapy

2seventy Bio Shares Jump On Positive Data From Bristol Myers-Partnered Cancer Immunotherapy
  • Bristol Myers Squibb Co BMY and 2seventy bio Inc TSVT have announced topline results from KarMMa-3 Phase 3 trial of Abecma (idecabtagene vicleucel) for multiple myeloma.
  • The trial compared Abecma to standard combination regimens in adults with relapsed and refractory multiple myeloma after two to four prior lines of therapy and refractory to the last regimen. 
  • The interim analysis demonstrated a statistically significant improvement in progression-free survival. 
  • Related Content: Bristol Myers, 2seventy Pull Plug On Multiple Myeloma CAR-T As Abecma Sales Gain Momentum
  • Treatment with Abecma also showed an improvement in the key secondary endpoint of overall response rate compared to standard regimens. 
  • Follow-up for overall survival, a key secondary endpoint, remains ongoing.
  • No new safety signals were reported in this study.
  • The FDA approved Abecma in March 2021 for relapsed or refractory multiple myeloma after four or more prior lines of therapy.
  • Abecma generated $72 million as U.S. commercial revenue in 2Q, split evenly between 2seventy and BMS. 
  • 2seventy said it is on track toward the upper end of $250-$300M revenue guidance for 2022.
  • TSVT ended the June quarter with $399 million in cash. It revised 2022 net cash spend to $245-265 million with a cash runway into 2025.
  • Price Action: TSVT shares are up 10.80% at $18.50 during the premarket session on the last check Wednesday.

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