Autolus Sells AUTO1/28 for $100M Upfront

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

From the Filing

0001730463-24-000070.txt : 20240603 0001730463-24-000070.hdr.sgml : 20240603 20240603171546 ACCESSION NUMBER: 0001730463-24-000070 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 44 CONFORMED PERIOD OF REPORT: 20240531 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240603 DATE AS OF CHANGE: 20240603 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Autolus Therapeutics plc CENTRAL INDEX KEY: 0001730463 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: X0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38547 FILM NUMBER: 241014914 BUSINESS ADDRESS: STREET 1: THE MEDIAWORKS STREET 2: 191 WOOD LANE CITY: LONDON STATE: X0 ZIP: W12 7FP BUSINESS PHONE: 44 20 3829 6230 MAIL ADDRESS: STREET 1: THE MEDIAWORKS STREET 2: 191 WOOD LANE CITY: LONDON STATE: X0 ZIP: W12 7FP FORMER COMPANY: FORMER CONFORMED NAME: Autolus Therapeutics Ltd DATE OF NAME CHANGE: 20180205 8-K 1 autl-20240531.htm 8-K autl-20240531 0001730463 FALSE 0001730463 2024-05-31 2024-05-31 0001730463 sic:Z8880 2024-05-31 2024-05-31 0001730463 us-gaap:CommonClassAMember 2024-05-31 2024-05-31 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 31, 2024 Autolus Therapeutics plc (Exact name of registrant as specified in its Charter) England and Wales 001-38547 Not applicable (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) The Mediaworks 191 Wood Lane London W12 7FP United Kingdom (Address of principal executive offices)(Zip Code) (44) 20 3829 6230 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered American Depositary Shares, each representing one ordinary share, nominal value $0.000042 per share AUTL The Nasdaq Global Select Market Ordinary shares, nominal value $0.000042 per share* * The Nasdaq Stock Market LLC * * Not for trading, but only in connection with the listing of the American Depositary Shares on The Nasdaq Global Select Market. The American Depositary Shares represent the right to receive ordinary shares and are being registered under the Securities Act of 1933, as amended, pursuant to a separate Registration Statement on Form F-6. Accordingly, the American Depositary Shares are exempt from the operation of Section 12(a) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 12a-8 thereunder. Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) o