Adaptimmune Therapeutics plc (NASDAQ:ADAP) Q3 2023 Earnings Conference Call November 8, 2023 8:00 AM ET
Company Participants
Juli Miller – Investor Relations
Adrian Rawcliffe – Chief Executive Officer
Dennis Williams – Senior Vice President-Late Stage Development
Elliot Norry – Chief Medical Officer
Jo Brewer – Chief Scientific Officer
Gavin Wood – Chief Financial Officer
Conference Call Participants
Jerry Gong – Mizuho Securities
Marc Frahm – TD Cowen
Dylan Drakes – Leerink Partners
Yanan Zhu – Wells Fargo Securities
Peter Lawson – Barclays
Operator
Good morning, ladies and gentlemen, and welcome to the Adaptimmune’s Q3 Financial and Business Update Conference Call.
I would now like to turn the meeting over to Ms. Juli Miller. Please go ahead, Ms. Miller.
Juli Miller
Good morning, and welcome to Adaptimmune's conference call to discuss our third 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; and Dennis Williams, our Senior Vice President of Late Stage Development, are 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 the call over to Adrian Rawcliffe. Ad?
Adrian Rawcliffe
Good morning. Thanks, Juli, and thanks, everyone, for joining us. In the first part of 2023, we set out to transform Adaptimmune. Specifically, we set out to accomplish five key goals: one, create – complete a large organizational restructuring to significantly reduce our cost base; two, submit our BLA for Afami-cel, putting us on the path to being a commercial cell therapy company. Three, recover Lete-cel and PRAME from GSK; four, complete the strategic combination and subsequent integration of TCR2; and five, prioritize our clinical portfolio on the basis of data throughout the year.
Midway through Q4 2023, we've made significant progress in each of these. In relation to the reorganization, whilst these things are always difficult, we achieved it with limited disruption to the company and to its momentum.
On the second goal, Afami-cel, we showed data last week at CTOS, demonstrating clear lasting benefit for people with synovial sarcoma who respond to Afami-cel, and we will complete the submission of the BLA this quarter.