Business
Alaunos Therapeutics Reports First Quarter 2023 Financial Results
Actively enrolling patients and manufacturing cryopreserved products for TCR-T Library Phase 1/2 trial; expect to report interim data in the third quarter of
About this update from Alaunos Therapeutics, Inc.
[{"type":"text","content":"Actively enrolling patients and manufacturing cryopreserved products for TCR-T Library Phase 1/2 trial; expect to report interim data in the third quarter of 2023Fully prepaid loan with Silicon Valley Bank; now a debt-free companyAmended exclusive licensing agreement with Precigen, Inc., reflecting the Company’s focus on its TCR-T programs and eliminating long-term financial obligationsCompany to host conference call today at 9:00 a.m. ET HOUSTON, May 10, 2023 (GLOBE NEWSWIRE) -- Alaunos Therapeutics, Inc. (“Alaunos” or the “Company”) (Nasdaq: TCRT), a leading T-cell receptor (TCR) cell therapy company advancing a clinical-stage pipeline of therapeutics for solid tumors, today announced financial results for the first quarter ended March 31, 2023, and provided a corporate update. “Our TCR-T Library Phase 1/2 trial continues to garner significant interest among patients, physicians and investigators,” said Kevin S. Boyle, Sr., Chief Executive Officer of Alaunos. “We’ve been actively enrolling patients and manufacturing cryopreserved products, and we expect to report interim clinical data in the third quarter of this year. As we work to fully realize the long-term potential of our TCR-T platform, we have simplified our corporate structure with the full prepayment of our loan with SVB and the recent agreement with Precigen. We are now moving forward unencumbered by debt or these potential royalties as we seek to transform the treatment of solid tumors.” Recent Developments and Upcoming Milestones TCR-T Library Phase 1/2 trial actively enrolling patients: Alaunos continues to actively enroll patients in its TCR-T Library Phase 1/2 trial targeting KRAS, TP53 and EGFR driver mutations across six solid tumor indications. Early translational data from the first three patients treated in the program will be highlighted in a poster at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting taking place June 2-6, 2023. Alaunos currently expects to provide an interim data update on multiple new patients in the third quarter of this year as the Company advances the program towards Phase 2 readiness with a recommended Phase 2 dose anticipated by year end 2023. Manufactured multiple cryopreserved products: In the first quarter of 2023, Alaunos enhanced its manufacturing process to move from fresh to cryopreserved cell product enab...