QuotedData’s morning briefing 8 March 2023

QuotedData's Morning briefing

In QuotedData’s morning briefing 8 March 2023:

  • Syncona’s (SYNC’s) portfolio company Autolus Therapeutics has announced its operational and financial results for the full year ended December 31, 2022. Key highlights included:
    • The FELIX study of obe-cel in relapsed/refractory (r/r) adult acute lymphoblastic leukemia (ALL) met its primary endpoint; remains on track for a next data update in mid-2023 with a Biologic License Application (BLA) filing to the US FDA planned by the end of the year;
    • Long term follow up data released at ASH demonstrated 35% of r/r ALL patients treated with obe-cel in the ALLCAR19 academic study remain in complete remission at a median follow up of 36 months without the need for further anti-leukemia treatment;
    • Data also released at ASH from the ALLCAR19 extension study of obe-cel in r/r B cell non-Hodgkin’s lymphoma (B-NHL) and chronic lymphocytic leukaemia (CLL), with the data showing high clinical activity levels and an encouraging tolerability profile; and
    • Company well-funded with cash of $382.8m at 31 December 2022; includes $163.9m from a public offering during the fourth quarter and a further $70m received in non-dilutive funds from Blackstone for the achievement of development and manufacturing milestones
  • Grit Real Estate Income Group (GR1T), the pan-African real estate company, has sold a further 2.29% interest in Letlole la Rona (LLR), a Botswana-listed company owning predominantly industrial assets in Botswana, resulting in Grit’s interest in LLR reducing to 11.25%. Grit has sold 6,421,000 shares on the Botswana Stock Exchange at a price of 3.51 Botswanan Pula (BWP) per share (a 12.7% premium to last reported NAV). Sales proceeds amount to BWP 22.5m ($1.7m). In aggregate with previous sales of shares in LLR (19m shares in December 2022 for $5.2m and 13.3m shares in February 2023 for $3.5m) Grit’s interest has reduced from 25.1% to 11.25%. The sale is part of Grit’s strategy to sell 20% of its portfolio by the end of 2023 to reduce its debt. Last month, the company announced it had sold a stake in hospitality company BHI (which owns three hotels in Mauritius) and plans to exits its position in the company completely.

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