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• |
association between early circulating tumor DNA (ctDNA) reduction and longer overall survival (OS) at the 2023 American Association for Cancer Research (AACR) Annual Meeting and American Society of Clinical Oncology (ASCO) 2023
meeting. ctDNA clearance was higher in previously untreated mUM (37%) compared to previously treated mUM (13%). These data suggest that early ctDNA reduction may be a better predictor of longer OS than radiographic response.
|
• |
final analysis, minimum follow-up of 3 years, from the Phase 2 trial in mUM at AACR 2023. The Company plans to present updated 3-year overall survival data from the Phase 3 trial in mUM at a medical conference later this year.
|
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• |
H.C. Wainwright Immune Cell Engager Virtual Conference
|
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Three Months Ended June 30,
|
||||||||||||
2023
|
2022
|
|||||||||||
$’000
|
£’000
|
£’000
|
||||||||||
Product revenue, net
|
57,844
|
45,514
|
23,992
|
|||||||||
Pre-product revenue, net
|
—
|
—
|
3,708
|
|||||||||
Total revenue from sale of therapies
|
57,844
|
45,514
|
27,700
|
|||||||||
Collaboration revenue
|
2,860
|
2,250
|
4,302
|
|||||||||
Total revenue
|
60,704
|
47,764
|
32,002
|
|||||||||
Cost of product revenue
|
(1,126
|
)
|
(886
|
)
|
(34
|
)
|
||||||
Research and development expenses
|
(36,560
|
)
|
(28,767
|
)
|
(20,150
|
)
|
||||||
Selling and administrative expenses
|
(43,064
|
)
|
(33,884
|
)
|
(18,811
|
)
|
||||||
Operating loss
|
(20,046
|
)
|
(15,773
|
)
|
(6,993
|
)
|
||||||
Finance income
|
4,336
|
3,412
|
118
|
|||||||||
Finance costs
|
(1,989
|
)
|
(1,565
|
)
|
(1,397
|
)
|
||||||
Net finance income / (costs)
|
2,347
|
1,847
|
(1,279
|
)
|
||||||||
Loss before taxation
|
(17,699
|
)
|
(13,926
|
)
|
(8,272
|
)
|
||||||
Income tax (charge) / credit
|
(192
|
)
|
(151
|
)
|
2,151
|
|||||||
Loss for the period
|
(17,891
|
)
|
(14,077
|
)
|
(6,121
|
)
|
||||||
Basic and diluted loss per share - $ / £
|
(0.37
|
)
|
(0.29
|
)
|
(0.14
|
)
|
![]() |
Six Months Ended June 30,
|
||||||||||||
2023
|
2022
|
|||||||||||
$’000
|
£’000
|
£’000
|
||||||||||
Product revenue, net
|
111,288
|
87,566
|
31,674
|
|||||||||
Pre-product revenue, net
|
—
|
—
|
6,537
|
|||||||||
Total revenue from sale of therapies
|
111,288
|
87,566
|
38,211
|
|||||||||
Collaboration revenue
|
6,023
|
4,739
|
16,265
|
|||||||||
Total revenue
|
117,311
|
92,305
|
54,476
|
|||||||||
Cost of product revenue
|
(1,352
|
)
|
(1,064
|
)
|
(282
|
)
|
||||||
Research and development expenses
|
(72,716
|
)
|
(57,216
|
)
|
(38,731
|
)
|
||||||
Selling and administrative expenses
|
(85,386
|
)
|
(67,185
|
)
|
(38,916
|
)
|
||||||
Operating loss
|
(42,143
|
)
|
(33,160
|
)
|
(23,453
|
)
|
||||||
Finance income
|
7,572
|
5,958
|
128
|
|||||||||
Finance costs
|
(4,048
|
)
|
(3,185
|
)
|
(2,730
|
)
|
||||||
Net finance income / (costs)
|
3,524
|
2,773
|
(2,602
|
)
|
||||||||
Loss before taxation
|
(38,619
|
)
|
(30,387
|
)
|
(26,055
|
)
|
||||||
Income tax (charge) / credit
|
(492
|
)
|
(387
|
)
|
3,806
|
|||||||
Loss for the period
|
(39,111
|
)
|
(30,774
|
)
|
(22,249
|
)
|
||||||
Basic and diluted loss per share - $ / £
|
(0.81
|
)
|
(0.64
|
)
|
(0.51
|
)
|
![]() |
Six Months Ended June 30,
|
||||||||||||
2023
|
2023
|
2022
|
||||||||||
$’000
|
£’000
|
£’000
|
||||||||||
Cash and cash equivalents at beginning of period
|
422,624
|
332,539
|
237,886
|
|||||||||
Net cash flows from / (used in) operating activities
|
8,135
|
6,401
|
(40,017
|
)
|
||||||||
Net cash flows from / (used in) investing activities
|
2,938
|
2,312
|
(342
|
)
|
||||||||
Net cash flows from / (used in) financing activities
|
12,509
|
9,843
|
(1,870
|
)
|
||||||||
Net foreign exchange difference on cash held
|
(11,126
|
)
|
(8,754
|
)
|
12,407
|
|||||||
Cash and cash equivalents at end of period
|
435,080
|
342,341
|
208,064
|
![]() |
June 30,
2023
£’000
|
December 31,
2022
£’000
|
|||||||
Non-current assets
|
||||||||
Property, plant and equipment
|
8,325
|
6,472
|
||||||
Intangible assets
|
410
|
410
|
||||||
Right of use assets
|
24,233
|
25,173
|
||||||
Other non-current assets
|
7,895
|
7,342
|
||||||
Deferred tax asset
|
4,442
|
4,240
|
||||||
Total non-current assets
|
45,305
|
43,637
|
||||||
Current assets
|
||||||||
Inventory
|
1,891
|
943
|
||||||
Trade and other receivables
|
48,458
|
46,711
|
||||||
Tax credits receivable
|
2,365
|
11,688
|
||||||
Cash and cash equivalents
|
342,341
|
332,539
|
||||||
Total current assets
|
395,055
|
391,881
|
||||||
Total assets
|
440,360
|
435,518
|
||||||
Equity
|
||||||||
Share capital
|
98
|
97
|
||||||
Share premium
|
137,957
|
123,751
|
||||||
Foreign currency translation reserve
|
(1,663
|
)
|
(3,097
|
)
|
||||
Other reserves
|
337,847
|
337,847
|
||||||
Share-based payment reserve
|
95,062
|
81,411
|
||||||
Accumulated deficit
|
(292,027
|
)
|
(261,253
|
)
|
||||
Total equity
|
277,274
|
278,756
|
||||||
Non-current liabilities
|
||||||||
Non-current accruals
|
1,646
|
1,479
|
||||||
Interest-bearing loans and borrowings
|
37,116
|
39,500
|
||||||
Deferred revenue
|
4,331
|
4,331
|
||||||
Lease liabilities
|
27,570
|
28,248
|
||||||
Provisions
|
136
|
114
|
||||||
Total non-current liabilities
|
70,799
|
73,672
|
||||||
Current liabilities
|
||||||||
Trade and other payables
|
85,754
|
75,076
|
||||||
Corporation tax liability
|
803
|
—
|
||||||
Interest-bearing loans and borrowings
|
991
|
—
|
||||||
Deferred revenue
|
3,204
|
6,408
|
||||||
Lease liabilities
|
1,513
|
1,555
|
||||||
Provisions
|
22
|
51
|
||||||
Total current liabilities
|
92,287
|
83,090
|
||||||
Total liabilities
|
163,086
|
156,762
|
||||||
Total equity and liabilities
|
440,360
|
435,518
|