After the previous close at $5.56 (-1.59%), AUTL stock becomes bullish, reaching $7.08 with a +27.34% increase in the Pre-Market on Monday, Nov. 8, 2021. Autolus Therapeutics published a press release on Nov. 8, announcing Blackstone Life Sciences to invest up to $250 million in AUTL for funding the development of a new treatment for a serious form of leukemia. $150 million out of the total investment will support the development and commercialization of cell therapy to target lymphoblastic leukemia. $50 million will be paid upfront to AUTL, while the rest to be paid upon the set milestones. Blackstone Life Sciences to receive a portion of the therapy’s royalties in return. Furthermore, Blackstone will also buy $100 million worth of AUTL’s American depository shares. The press release set the AUTL stocks on a bullish path.
Autolus Therapeutics
Autolus Therapeutics Plc is a UK-based biopharmaceutical company, specializing in the development and commercialization of gene therapies. The company is developing programmed T-cell therapies for the treatment of cancer with the clinical-stage product targeting hematological cancers like leukemia. Its products include AUT02, AUT03, AUT04, and AUT06, each being a T-cell therapy for targeting specific types of cancers.
AUTL in the Numbers
On November 3, 2021, AUTL released its third-quarter 2021 financial results and progress for the quarter ended September 30, 2021. As per the press release, compared to $216.4 million on June 30, 2021, the cash on September 30, totaled $173.1 million. The expenses for research and development decreased to $32.3 million in this quarter from $33.5 million in the previous quarter. Cash costs decreased to $29.4 million from $30.0 million while the non-cash costs decreased to $2.9 million for this quarter from $3.5 million in the previous. Moreover, the general and administrative expenses decreased to $8.3 million for this quarter from $9.8 million in the previous. Other income/expense increased by $3.5 million from $2.5 million of the previous quarter.
A net loss of $34.0 million ($0.47 per ordinary share) was attributable to ordinary shareholders for the three months ended September 30, 2021, in comparison to $37.3 million ($0.72 per ordinary share) for the same period in 2020. According to their estimates, the current cash on hand will provide Autolus with a cash runway into H1 2023.
Future Forecast of AUTL Stock
According to CNN Business, 9 different analysts forecast AUTL to continue being bullish over the course of twelve months. According to the forecast, AUTL has a median target of $13.00, estimated going as high as $20.00 and as low as $5.50. Even the median estimate shows a huge increase from the current stock price of AUTL.
