Report
Jacob Mekhael

Autolus FIRST LOOK: Uneventful FY23 results, obe-cel's PDUFA in r/r ALL in 4Q24

Autolus reported uneventful FY23 results, with approx. $ 240m in cash (plus $ 600m from the strategic collaboration with BioNTech and public equity raise in February 2024) – enough to fully support the commercialisation of obe-cel in r/r adult ALL, as well as support obe-cel's pipeline expansion towards pivotal data in autoimmunity. Looking ahead, Autolus is set for an eventful year with an FDA decision on obe-cel in r/r adult ALL (PDUFA 16 November), as well as multiple data readouts including initial data from the phase 1 SLE trial by YE24, which we think could position obe-cel to become a pipeline in a product. We reiterate our BUY rating and $11 TP. Autolus is one of our life sciences top picks.
Underlying
Autolus Therapeutics ADS

Provider
KBC Securities
KBC Securities

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Analysts
Jacob Mekhael

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