Instil Bio, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 15, 2022 at 02:47 am IST
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Instil Bio, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 56.22 million compared to USD 43.01 million a year ago. Basic loss per share from continuing operations was USD 0.43 compared to USD 0.33 a year ago.
For the nine months, net loss was USD 169.33 million compared to USD 101.44 million a year ago. Basic loss per share from continuing operations was USD 1.31 compared to USD 1.03 a year ago.
Instil Bio, Inc. is a clinical-stage biopharmaceutical company focused on developing a pipeline of novel therapies. The Company seeks to in-license/acquire and develop novel therapeutic candidates in diseases with significant unmet medical need. Its first such program is an engineered tumor infiltrating lymphocyte (TIL), cell therapy for the treatment of cancer. It is engaged in developing a novel class of genetically engineered TIL therapies using its Co-Stimulatory Antigen Receptor (CoStAR), platform. The Company's lead CoStAR-TIL product candidate, ITIL-306, expresses a CoStAR molecule designed to recognize folate receptor alpha (Fra), a tumor-associated antigen that is expressed on numerous solid tumors, including ovarian cancer, uterine cancer, NSCLC and renal cancer. CAR-T and TCR-T therapies are cell products composed of T cells that have been genetically engineered to recognize a specific cancer-related antigen on the surface of tumor cells.