Achilles Therapeutics reports Q4 EPS (46c) vs. (61c) last year

Cash and cash equivalents were $131.5M as of December 31, 2023, vs. $173.3M a year ago. Anticipates that cash and cash equivalents are sufficient to fund planned operations through 2025. “In 2023, we made important progress on the optimization of our VELOS manufacturing process with a significant improvement in cNeT doses delivered and are developing our understanding of the relationship between host conditioning and the engraftment of infused cNeT. We recently shared updated safety, tolerability and translational science data from checkpoint refractory patients that continue to be encouraging and reveal important mechanistic learnings about the factors driving durable T cell engraftment and the impact of immune evasion mechanisms at an antigen level. These learnings will inform the development of cNeT and related neoantigen vaccine and TCR-T therapies,” said CEO Iraj Ali. “Looking ahead to 2024, we will evaluate cNeT 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 $131M in cash, which supports operations through 2025, including the completion of the ongoing Phase I/IIa trials.”