Today, Autolus’ stock market is wonderfully soaring more than 30%. During the week, AUTL has fallen to $5.45 from the previous closing price of $6.00 on the volume of 425,660 shares. Currently, in the pre-market trading session, it is higher, trading at $7.31. This prices increase came after announcing that Blackstone invests over $250 million in British biotech company Autolus. The purpose of this corporation is to finance the final stages of developing a new therapy to treat a severe form of fever.
Furthermore, more than $150 million will be spent on developing and specifying obecabtagene autoleucel, a cell therapy that targets a condition called acute lymphoblastic fever. The rest will be paid as the company reaches specific indicators since Autolus (AUTL) will receive $50 million of this initial payment. Instead, the Blackstone will receive part of the royalties from the therapy. Blackstone will also be buying $100 million of Autolus’ U.S. deposit shares as of Friday’s close after a relatively steady decline since its initial public offering in 2018.
Separately, last week the company published its third-quarter results in 2021, which is the cash is represented at $173.1 million, compared to $216.4 million previous quarter of 2021. Also, the research and development expenses declined to $32.3 million for the three months ended September 30, 2021, from $33.5 million for the prior year.