Autolus Sells AUTO1/28 for $100M Upfront

Ticker: AUTL · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1730463

Autolus Therapeutics PLC 8-K Filing Summary
FieldDetail
CompanyAutolus Therapeutics PLC (AUTL)
Form Type8-K
Filed DateJun 3, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Key Dollar Amounts$0.000042
Sentimentneutral

Sentiment: neutral

Topics: divestiture, asset-sale, financing

TL;DR

Autolus cashes out AUTO1/28 for $100M upfront, focusing on other key therapies.

AI Summary

Autolus Therapeutics plc announced on May 31, 2024, that it has entered into a definitive agreement to sell its AUTO1/28 product candidate and related assets to a third party for an upfront payment of $100 million, with potential for an additional $150 million in milestone payments. This strategic divestiture aims to streamline Autolus' focus on its core AUTO3, AUTO4, and AUTO5 programs.

Why It Matters

This transaction provides Autolus with significant capital to advance its lead cell therapy programs, potentially accelerating their development and market entry.

Risk Assessment

Risk Level: medium — The divestiture of a product candidate and reliance on future milestone payments introduce financial and development risks.

Key Numbers

  • $100.0M — Upfront Payment (Received for the sale of AUTO1/28 and related assets.)
  • $150.0M — Potential Milestone Payments (Additional payments contingent on future success of AUTO1/28.)

Key Players & Entities

  • Autolus Therapeutics plc (company) — Registrant
  • AUTO1/28 (product) — Divested product candidate
  • $100 million (dollar_amount) — Upfront payment for AUTO1/28
  • $150 million (dollar_amount) — Potential milestone payments
  • AUTO3 (product) — Core program for Autolus
  • AUTO4 (product) — Core program for Autolus
  • AUTO5 (product) — Core program for Autolus
  • May 31, 2024 (date) — Date of agreement

FAQ

What is the nature of the agreement Autolus Therapeutics plc entered into?

Autolus Therapeutics plc entered into a definitive agreement to sell its AUTO1/28 product candidate and related assets to a third party.

What is the upfront payment Autolus will receive for the AUTO1/28 divestiture?

Autolus will receive an upfront payment of $100 million for the sale of AUTO1/28 and related assets.

Are there any potential additional payments from this divestiture?

Yes, there is a potential for an additional $150 million in milestone payments related to the AUTO1/28 product candidate.

Which of Autolus's core programs will be prioritized after this divestiture?

Autolus will streamline its focus on its core AUTO3, AUTO4, and AUTO5 programs.

On what date was this agreement reported?

The agreement was reported on May 31, 2024.

Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-06-03 17:15:46

Key Financial Figures

  • $0.000042 — nting one ordinary share, nominal value $0.000042 per share AUTL The Nasdaq Global Selec

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On May 31, 2024, Autolus Therapeutics plc issued a press release announcing data being presented at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, including longer-term follow-up and additional data analysis from the pivotal Phase Ib/II FELIX study of obecabtagene autoleucel (obe-cel) in relapsed/refractory (r/r) adult B-cell Acute Lymphoblastic Leukemia (ALL). The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. From time to time, Autolus Therapeutics plc (the "Company") presents and/or distributes slides and presentations to the investment community to provide updates and summaries of its business. On June 1, 2024, a conference call and webcast to discuss the presented data was held at 9:30 am EDT/8:30 am CDT/2:30 pm BST. The presentation for such conference call is furnished as Exhibit 99.2 to this Current Report on Form 8-K. The information contained in the press release and presentation furnished as Exhibit 99.1 and Exhibit 99.2, respectively, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and is not incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in any such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits d) Exhibits Exhibit No. Description of Exhibit 99.1 Press release dated May 31, 2024 99.2 Corporate p resentation dated June 1, 2024 104 Cover Page Interactive Data File (embedded within XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AUTOLUS THERAPEUTICS PLC Dated: June 3, 2024 By: /s/Christian Itin, Ph.D. Name: Christian Itin, Ph.D. Title: Chief Executive Officer

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