Michael Klem's questions to Adaptimmune Therapeutics PLC (ADAP) leadership • Q3 2024
Question
Michael Klem sought more detail on the increased confidence in the $400 million peak sales forecast for the sarcoma franchise and asked for an update on the remaining tranches of the Hercules Capital debt facility.
Answer
CEO Adrian Rawcliffe attributed the increased confidence to the successful FDA approval of Tecelra, strong initial launch metrics validating patient numbers, and the positive pivotal data for lete-cel, especially in the MRCLS population. CFO Gavin Wood detailed the remaining debt tranches: one for $5 million tied to certain criteria, $30 million upon lete-cel approval, and a final $40 million on terms to be decided.