Century Therapeutics (IPSC) Q2 2026 earnings summary

Executive summary

• Focused on developing allogeneic pluripotent stem cell therapies for autoimmune diseases and cancer, with lead programs CNTY-813 and CNTY-308 advancing toward clinical trials and a robust proprietary technology platform.

• Completed pre-IND meeting with FDA for CNTY-813, with IND submission on track for Q4 2026 and initial clinical data anticipated in H2 2027.

• CNTY-813 preclinical data showed durable glucose control, immune evasion, and scalable manufacturing, supporting its potential as a functional cure for T1D.

• CNTY-308, a CD19-targeted CAR-iT cell therapy, remains on track to enter the clinic in 2026 after alignment with health authorities.

• No product sales to date; revenue in prior periods was from a now-terminated collaboration with Bristol-Myers Squibb.

Financial highlights

• Cash, cash equivalents, and investments totaled $197.2 million as of June 30, 2026, supporting operations into Q1 2029, following a $126.4 million private placement in January 2026.

• Net loss of $34.6 million for Q2 2026 and $56.2 million for the six months ended June 30, 2026, compared to net loss of $32.5 million and net income of $44.0 million, respectively, in the prior year periods.

• Research and development expenses decreased to $19.6 million for Q2 2026 (down $7.3 million year-over-year), mainly due to staff reductions and lower clinical trial spending.

• General and administrative expenses fell to $5.8 million for Q2 2026, reflecting lower personnel costs and remeasurement of contingent liabilities.

• Loss on lease component termination of $11.1 million in Q2 2026 due to partial headquarters lease termination.

Outlook and guidance

• Cash runway projected into Q1 2029 based on current plans and assumptions.

• IND submission for lead program CNTY-813 expected in Q4 2026, with initial clinical data anticipated in H2 2027.

• CNTY-308 anticipated to enter the clinic in 2026.

• Anticipates increased expenses as preclinical and clinical development progresses and as manufacturing and commercialization capabilities expand.