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2seventy bio, headquartered in Cambridge, Massachusetts, is focused on the development of innovative therapies in the field of life sciences. InvestingPro analysis reveals several additional insights about the company’s financial health and market position, with 11 more exclusive ProTips available to subscribers. InvestingPro analysis reveals several additional insights about the company’s financial health and market position, with 11 more exclusive ProTips available to subscribers.
2seventy bio, headquartered in Cambridge, Massachusetts, is focused on the development of innovative therapies in the field of life sciences. InvestingPro analysis reveals several additional insights about the company’s financial health and market position, with 11 more exclusive ProTips available to subscribers.
2seventy bio, headquartered in Cambridge, Massachusetts, is focused on the development of innovative therapies in the field of life sciences.
In other recent news, 2Seventy Bio, Inc. reported its 2024 full-year sales for Abecma, a drug developed in partnership with Bristol Myers (NYSE:BMY) Squibb, totaling $242 million. This figure aligns with the company’s earlier guidance of $240 to $250 million. The fourth quarter saw some revenue deferred into 2025 due to infusion delays. Citi analyst Samantha Semenkow revised the price target for 2Seventy Bio shares to $9.00 from $10.00, maintaining a Buy rating despite the adjustment. The revision followed Bristol Myers Squibb’s report of a 23% decline in fourth-quarter Abecma sales, attributed to seasonal factors.
2Seventy Bio anticipates reaching a quarterly breakeven point for Abecma by the end of 2025. Additionally, the company holds approximately $184 million in cash and marketable securities as of December 31, 2024, with a net cash burn of $9 million in the fourth quarter. In leadership changes, 2Seventy Bio announced Jessica Snow as the new Chief Operating Officer, effective January 6, 2025. Snow has been with the company since 2021, previously serving as Senior Vice President of Quality & Head of Operations. The company has yet to finalize details regarding her compensation plan.
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