Century Therapeutics Reports Financial Results and Strategic Pipeline Update in Annual 10-K Filing
Century Therapeutics, Inc., a biotechnology company focused on developing allogeneic cell therapies, released its annual report on Form 10-K, detailing its financial performance and strategic developments. The company reported collaboration revenue of $109.2 million for the year ended December 31, 2025, a significant increase compared to $6.6 million in 2024. This surge was primarily attributed to the recognition of the remaining transaction price from the terminated collaboration agreement with Bristol-Myers Squibb (BMS). Net loss for 2025 was $9.6 million, a substantial decrease from the $126.6 million loss reported in the previous year.
The company's operating expenses totaled $126.4 million in 2025, compared to $144.7 million in 2024. Research and development expenses decreased to $95.7 million from $107.2 million, reflecting a strategic reprioritization of the pipeline. General and administrative expenses also saw a reduction, falling to $24.0 million from $33.2 million, due to decreased legal fees and a gain on lease modification. The company reported cash, cash equivalents, and investments totaling $117.1 million as of December 31, 2025.
Operationally, Century Therapeutics highlighted its strategic shift towards prioritizing its beta islet program, CNTY-813, for Type 1 Diabetes (T1D) and CNTY-308 for B-cell mediated diseases, both currently in IND-enabling studies. The company anticipates submitting an IND application for CNTY-813 as early as 2026 and initiating clinical studies for CNTY-308 in the same year. Clinical development activities for CNTY-101, a CAR-iNK cell therapy, will be prioritized in an investigator-sponsored trial (IST) called CARAMEL, focusing on B-cell-mediated autoimmune diseases. The company also emphasized its commitment to leveraging its in-house manufacturing infrastructure to minimize manufacturing risks and reduce costs.
Looking ahead, Century Therapeutics believes its existing cash, cash equivalents, investments, and the net proceeds of $126.7 million from a January 2026 private placement will be sufficient to fund operating expenses and capital expenditure requirements into the first quarter of 2029. The company plans to continue advancing its iPSC-derived allogeneic cell therapy platforms, progress CNTY-813 and CNTY-308 through IND-enabling studies and clinical trials, and selectively evaluate strategic partnerships to enable greater patient access. The company's employee headcount as of March 1, 2026, was 78 full-time employees, with 36 engaged in research and development activities.
About Century Therapeutics, Inc.
Century Therapeutics is a biotech company developing off-the-shelf allogeneic cell therapies using induced pluripotent stem cells (iPSCs). Its programs include engineered natural killer (NK) and T cells for autoimmune diseases and cancer, leveraging gene editing, protein engineering, and proprietary Allo-Evasion technology. The company focuses on scalable manufacturing, strategic partnerships, and broad patient access to innovative, potentially curative immunotherapies.
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