Autolus Aucatzyl US launch on track, upcoming R&D day to focus on growth drivers
Yesterday before US market opens, Autolus provided a business update and an overview of 2025 milestones, where the US commercial launch of Aucatzyl in r/r ALL is progressing in line with previously guided timelines. With 24 centres already authorised (targeting 30 by end Jan'25), the first commercial sales of Aucatzyl could come anytime now. We believe initial positive experience with the product will be key to drive adoption in FY25, and Autolus' manufacturing process has been stress tested to ensure robustness of supply. Beyond r/r ALL, we look forward to initial phase 1 data for Aucatzyl in autoimmune (SLE) and the company's R&D day in April to learn more about this growth driver. We reiterate our BUY rating and $11 TP.