KBC Securities - Autolus Therapeutics ADS (AUTL) Autolus 1Q24 update reiterates pipeline timelines, obe-cel data at ASCO

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KBC Securities

Jacob Mekhael

Autolus 1Q24 update reiterates pipeline timelines, obe-cel data at ASCO

Autolus reported uneventful 1Q24 results, with a cash position of $758.5m (FY23: $ 239.6m), sufficient to fund the company into the first pivotal data from obe-cel (CD19 CAR-T) in autoimmune disease (we expect this to come in 2027/2028). The company reiterated pipeline timelines, with the next key event being additional analysis and longer follow up from the phase 2 (FELIX) trial of obe-cel in r/r adult ALL, expected at ASCO in June 2024, which will provide more insight into long term durability. We reiterate our $ 11 TP and BUY rating. Autolus is one of our life sciences top picks.

17/05/2024 1 EN

Underlying

Autolus Therapeutics ADS

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US05280R1005 NASDAQ Stock Market United Kingdom

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Jacob Mekhael

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Yesterday before US market opens, Autolus announced preliminary unaudited 4Q25 and FY25 net product sales of Aucatzyl (obe-cel, CD19 CAR-T), and provided a business update. $ 75m in FY25 Aucatzyl sales is in line with CSS ($ 75.9m) and ahead of our estimate of $ 72.5m. We believe this figure makes Aucatzyl's first year on the market a success, and we view FY26 guidance of $ 120-135m as within reach. Pipeline wise, we look forward to initial data from the phase 1 trial of Aucatzyl in the difficult progressive MS indication by YE26, while the pivotal nephritis trial is enrolling with a 24 month ...

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Morning Notes : ARGX BB, GBLB BB, MDXH BB, ONTEX BB, UCB BB, AUTL US, PHVS US

: ARGX BB, GBLB BB, MDXH BB, ONTEX BB, UCB BB, AUTL US, PHVS US

January 13, 2026 January 13, 2026 1 EN

Zealand Pharma Positive phase 1a data for Kv1.3 channel blocker

Zealand Pharma reported positive phase 1a topline results for the Kv1.3 channel blocker ZP9830. Single ascending doses of ZP9830 were well tolerated, with no serious or severe adverse events or dose-limiting safety findings, and PK/PD profile was in-line with predictions. We view these data as de-risking for the program and look forward to the MAD data expected in 2H26, which should provide insight into extended exposure and additional proof of mechanism. Given the selective expression of Kv1.3 on effector memory T cells, we believe Kv1.3 blockers have pipeline-in-a-product potential in the at...

7h / 46m 7h / 46m 1 EN

Guy Sips ... (+6)

Guy Sips
Lynn Hautekeete
Mathijs Geerts Danau
Thibault Leneeuw
Thomas Couvreur
Wim Hoste

Morning Notes : AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZEAL DC

: AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZEAL DC

7h / 53m 7h / 53m 1 EN

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8h / 7m 8h / 7m 1 EN

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Autolus 1Q24 update reiterates pipeline timelines, obe-cel data at ASCO

We are a financial services provider for several types of professional clients, each with distinct needs.

Autolus Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Autolus Aucatzyl launch success, FY25 preliminary revenue in line with CSS

Morning Notes : ARGX BB, GBLB BB, MDXH BB, ONTEX BB, UCB BB, AUTL US, PHVS US

Zealand Pharma Positive phase 1a data for Kv1.3 channel blocker

Morning Notes : AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZEAL DC

Dynamic Top Pick List update Removing Aedifica

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