Adaptimmune Therapeutics plc (NASDAQ:ADAP) Q1 2023 Earnings Conference Call May 12, 2023 8:00 AM ET
Company Participants
Juli Miller - Head-Investor Relations
Adrian Rawcliffe - Chief Executive Officer
Dennis Williams - Senior Vice President, Late Stage Development
Helen Tayton-Martin - Chief Business & Strategy Officer
Joanna Brewer - Chief Scientific Officer
John Lunger - Chief Patient Supply Officer
Conference Call Participants
Marc Frahm - TD Cowen
Tony Butler - EF Hutton
Operator
Hello. Welcome to Adaptimmune's First Quarter Call and Business Update. I would now like to turn the call over to Juli Miller. Juli, please go ahead.
Juli Miller
Good morning, and welcome to Adaptimmune's conference call to discuss our first quarter 2023 financial results and business updates. I would ask you to review the full text of our forward-looking statements from this morning's press release.
We anticipate making projections during this call, and actual results could differ materially due to several factors, including those outlined in our latest filings with the SEC.
Adrian Rawcliffe, our Chief Executive Officer, is here with me for the prepared portion of the call. Other members of our management team will be available for Q&A.
With that, I'll turn it over to Adrian Rawcliffe. Ad?
Adrian Rawcliffe
Thank you, Juli, and thanks to everyone for joining the call. My comments today will be brief, and we can go directly to questions.
We started 2023 at pace, and it promises to be a year of change for Adaptimmune. We completed the prioritization and restructuring in Q1, cutting costs whilst remaining focused on our priorities with afami-cel BLA, the CD8 program in ovarian, bladder and head and neck cancers, PRAME and our allogeneic platform, a strong pipeline of cell therapies for a wide range of solid tumors.
Adding to that strength, we announced that we entered into a strategic combination with TCR2. We have two companies that have spent our entire histories focused on solid tumors with experienced teams, with advanced strong clinical pipelines, with significant value-creating near-term catalyst.
Add to that, the compatibility of our technology platforms, including an innovative next-generation toolbox and a cash runway into 2026. And taken together, it's clear that this combination will create a preeminent cell therapy company to treat solid tumors.
We expect the transaction to close in Q2 2023, subject, of course, to shareholder approval at the end of this month. Both companies are very actively planning for integration, and we will update further once the transaction is closed.