Autolus Therapeutics Reports $70.2 Million Net Loss in Q1 2025

Autolus Therapeutics plc reported its financial results for the first quarter of 2025, revealing a net loss of $70.2 million, compared to a net loss of $52.7 million for the same period in 2024. The company's total revenue for the quarter was $9.0 million, generated entirely from product sales of AUCATZYL, which was launched in January 2025 following FDA approval in November 2024. This marks a significant increase from the previous year when the company did not report any product revenue. However, total revenue decreased by 11% compared to the prior year, primarily due to the absence of license revenue, which amounted to $10.1 million in Q1 2024.

The company's operating expenses for the quarter totaled $74.2 million, up from $48.8 million in the same quarter last year. This increase was driven by a 62% rise in selling, general, and administrative expenses, which reached $29.5 million, reflecting higher costs associated with commercial readiness and an expanded workforce. Research and development expenses decreased by 13% to $26.7 million, attributed to a reallocation of resources following the FDA approval of AUCATZYL, which allowed certain costs to be classified under cost of sales.

In terms of operational metrics, Autolus has activated 39 cancer treatment centers in the United States as of May 7, 2025, with coverage for AUCATZYL secured for over 90% of total medical lives in the U.S. The Centers for Medicare and Medicaid Services (CMS) has included AUCATZYL in its reimbursement coding determinations, which is expected to facilitate patient access and revenue recognition. The company is also preparing for a commercial launch in the United Kingdom, following conditional marketing authorization granted by the Medicines and Healthcare products Regulatory Agency (MHRA) on April 25, 2025.

As of March 31, 2025, Autolus reported cash and cash equivalents of $95.8 million and marketable securities of $420.8 million. The company believes these resources will be sufficient to fund its operations for at least the next twelve months. However, it continues to face significant operating losses and an accumulated deficit of $1.17 billion, indicating the ongoing need for additional capital to support its development and commercialization efforts. The outlook remains cautious, with the company emphasizing the uncertainties associated with its clinical development and commercialization strategies, particularly as it seeks to expand its product offerings and navigate the complexities of the biopharmaceutical market.