Century Therapeutics Reports Q2 2025 Financial Results with Revenue Shift and Workforce Reduction

Century Therapeutics, Inc. reported its financial results for the second quarter of 2025, revealing a significant shift in its revenue and profitability metrics compared to the previous fiscal period. The company recorded no collaboration revenue for the three months ended June 30, 2025, a decrease from $771,000 in the same period last year. However, for the six months ended June 30, 2025, collaboration revenue surged to $109.2 million, primarily due to the recognition of revenue from the termination of its collaboration agreement with Bristol-Myers Squibb. This marked a substantial increase from $1.6 million in the prior year, reflecting a strategic pivot following the collaboration's conclusion.

Operating expenses for the second quarter of 2025 totaled $34.7 million, slightly down from $35.5 million in the same quarter of 2024. Research and development expenses remained relatively stable at $26.9 million, compared to $27.2 million in the prior year, while general and administrative expenses decreased to $7.8 million from $8.3 million. The net loss for the quarter was $32.5 million, a marginal increase from a loss of $31.2 million in the same quarter of 2024. In contrast, the company reported a net income of $44 million for the six months ended June 30, 2025, a significant turnaround from a loss of $59.3 million in the same period last year.

In terms of operational developments, Century Therapeutics has made strategic adjustments to its workforce, completing a reduction in force of approximately 51% in July 2025. This decision was part of a broader effort to streamline operations and focus on high-potential programs, particularly the clinical execution of CNTY-101 for autoimmune diseases and the advancement of preclinical programs like CNTY-308. The company also emphasized its commitment to developing allogeneic cell therapies, leveraging its proprietary technologies and expertise in induced pluripotent stem cells (iPSCs).

As of June 30, 2025, Century Therapeutics reported total assets of $284.7 million, down from $353.2 million at the end of 2024. The company had cash and cash equivalents of $56.9 million and short-term investments of $99 million. The accumulated deficit stood at $738.3 million, reflecting the ongoing challenges in achieving profitability. Management anticipates that existing cash and investments will be sufficient to fund operations into the fourth quarter of 2027, although they acknowledge the need for additional financing to support future research and development activities.

Looking ahead, Century Therapeutics remains focused on advancing its iPSC cell therapy platforms and expects to incur additional losses as it progresses through clinical trials and seeks regulatory approvals. The company is actively exploring opportunities for future collaborations and financing to support its growth strategy, while also managing the inherent risks associated with biotechnology development.