Autolus Therapeutics plc, a biopharmaceutical company focused on programmed T-cell therapies, reported a net loss of $220.6 million for the year ended December 31, 2024, compared to a net loss of $208.4 million in 2023. Revenue for 2024 totaled $10.1 million, primarily from license agreements, a significant increase from the $1.7 million recorded in 2023. The increase in 2024 revenue is attributable to a license agreement with BioNTech SE, which generated $10.1 million in revenue. Cost of sales, totaling $11.4 million, was recognized from November 8, 2024, the date of FDA approval for AUCATZYL, through December 31, 2024.
Research and development expenses increased by $7.9 million to $138.4 million in 2024, primarily due to increased personnel costs and clinical trial expenses. Selling, general, and administrative expenses rose by $54.3 million to $101.0 million, largely driven by increased personnel costs and commercial readiness activities. Interest income increased to $32.4 million in 2024 from $13.5 million in 2023, reflecting higher cash balances. Conversely, net interest expense decreased to $9.3 million in 2024 from $45.1 million in 2023 due to changes in assumptions used in valuing collaboration agreements.
A key development was the U.S. Food and Drug Administration's approval of AUCATZYL (obecabtagene autoleucel) for adult patients with relapsed or refractory B-cell precursor acute lymphoblastic leukemia (r/r B-ALL) on November 8, 2024. The company commercially launched AUCATZYL in the United States in January 2025, and as of March 19, 2025, 33 treatment centers were authorized to administer the therapy. Marketing authorization applications for AUCATZYL are under review in the European Union and the United Kingdom, with approval expected in the second half of 2025. The company also initiated Phase 1 studies of obe-cel in other oncology and autoimmune indications.
Autolus's strategic financing activities included a License and Option Agreement with BioNTech SE, resulting in an upfront payment of $50 million and potential future payments of up to $582 million. A collaboration agreement with Blackstone provided up to $150 million to support the development and commercialization of AUCATZYL and other product candidates. As of December 31, 2024, Autolus had 647 full-time employees, with 474 in research and development, including manufacturing, and 173 in sales and general administration. The company's cash and cash equivalents, along with marketable securities, totaled $588 million as of December 31, 2024, which the company believes will fund operations for at least the next twelve months. The company's 10-K filing also details numerous risk factors related to its financial position, commercialization efforts, product development, regulatory approvals, and dependence on third parties.
About Autolus Therapeutics plc
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