2seventy Bio sees FY23 U.S. Abecma revenue $470M-$570M

At the end of February 2023, 2seventy bio raised approximately $117 million in net proceeds through a public equity offering. Based on current operating plans, which includes these net proceeds and the ongoing commercialization of Abecma, the company believes its current cash position will be sufficient to fund operations into 2026. "The financial outlook for 2seventy continues to strengthen, and the recent equity financing puts us in a privileged position, with cash runway now into 2026," said Chip Baird, chief financial officer. "We expect the cash flow from the Abecma collaboration to grow significantly over the 2023-25 time period, which will continue to reduce our annual net cash spend and our need for future capital infusions. Our pipeline programs have the potential to deliver meaningful benefit for cancer patients and we will balance an entrepreneurial mindset with a disciplined approach to capital allocation."