Century Therapeutics (IPSC) Q4 2025 earnings summary

Executive summary

• Advanced lead beta islet cell therapy (CNTY-813) for type 1 diabetes, with IND submission expected in Q4 2026 and initial clinical data anticipated in 2H 2027.

• Progressed CD19-targeted CAR-iT cell therapy (CNTY-308) toward clinical entry in 2026.

• Strengthened balance sheet with $135 million private placement, extending cash runway into Q1 2029.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $117.1 million as of December 31, 2025, down from $220.1 million at year-end 2024.

• Collaboration revenue was $109.2 million for 2025, up from $6.6 million in 2024, primarily from a Bristol-Myers Squibb agreement.

• R&D expenses decreased to $95.7 million in 2025 from $107.2 million in 2024, mainly due to lower personnel and manufacturing costs.

• G&A expenses fell to $24.0 million in 2025 from $33.2 million in 2024, reflecting lower legal fees and gains on lease and contingent liabilities.

• Net loss narrowed significantly to $9.6 million in 2025 from $126.6 million in 2024.

Outlook and guidance

• Cash position and recent financing expected to support operations into Q1 2029.

• IND submission for CNTY-813 planned for Q4 2026, with initial clinical data expected in 2H 2027.

• CNTY-308 anticipated to enter the clinic in 2026, pending regulatory clearance.

• Updated preliminary clinical data from the CARAMEL IST study expected in 2026.