TSVT Earnings Prediction
The chart below shows how TSVT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, TSVT sees a +4.05% change in stock price 10 days leading up to the earnings, and a -2.85% change 10 days following the report. On the earnings day itself, the stock moves by +0.69%. This data can give you a slight idea of what to expect for the next quarter's release.
TSVT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
13.53M
12.46%
50.93%
Gross Margin
57.38%
-2.40%
-6.68%
Operating Margin
-99.29%
-79.13%
-56.26%
Net Margin
-73.39%
-87.67%
-126.45%
EPS
-0.19
-86.43%
-142.22%
No Data Available
TSVT Earnings Analysis
2seventy bio, Inc. Common Stock Corporation (TSVT.O) Earnings Conference Call
Positive
Abecma Revenue Surge: In the third quarter of 2024, U.S. revenues for Abecma grew by 42% over the prior quarter, reflecting strong demand and market expansion.
Strategic Asset Sale: The company successfully completed the sale of its oncology and autoimmune R&D pipeline to Regeneron, including about 160 employees, enhancing focus on core business areas.
U.S. Revenue Expansion: Abecma's U.S. revenues were reported at $77 million, indicating ongoing expansion in the third-line setting and strong market performance.
Operating Expense Reduction: The company achieved a $10 million or 24% reduction in GAAP operating expenses versus the prior quarter, and a $140 million or 52% year-to-date reduction compared to the same period last year, primarily driven by reduced R&D expenses.
Abecma Revenue Projections: The company expects U.S. Abecma revenues to be approximately $240 million to $250 million for 2024, demonstrating confidence in continued growth and market penetration.
Negative
Employee Count and Burn Rate: In 2023, we ended with 277 employees, a burn rate of $63 million in the fourth quarter, and uncertainty surrounding Abecma's earlier line approval and return to growth.
Burn Rate Analysis: Our burn rate was approximately $10 million this quarter, and we have 70 employees, the majority of whom are funded through the Abecma Co-Co agreement with Bristol-Myers Squibb.
2024 Revenue Expectations: We expect U.S. Abecma revenues to be approximately $240 million to $250 million for 2024, with the fourth quarter expected to be impacted by continued competition and a reduction in CAR-T infusion scheduled during the U.S. holiday season.
Collaboration Revenue Report: We reported collaborative arrangement revenue of approximately $11 million related to our collaboration with BMS.
Cash Spend Projections: We continue to expect net cash spend in the range of $40 million to $60 million for 2024 and cash runway beyond 2027.
TSVT FAQs
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TSVT Earning Call Sentiment
2seventy bio, Inc. (TSVT) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
TSVT.O
-6.06%Positive
The earnings call reflects strong financial performance with a 42% revenue growth for Abecma, improved margins, and significant cost reductions. The strategic focus on Abecma and partnerships with Regeneron and Novo Nordisk are promising. Despite competitive pressures and seasonality, the company anticipates breakeven by 2025, with a reduced breakeven point. The Q&A highlights strong demand and improved manufacturing capacity. While there are risks, the overall sentiment is positive, suggesting a likely stock price increase.
