February 25, 2020 / 2:42 PM / a month ago

BRIEF-Gamida Cell FY 2019 Net Loss Narrows To $34.4 Mln

Feb 25 (Reuters) - Gamida Cell Ltd:

* NET LOSS FOR 2019 WAS $34.4 MILLION, COMPARED TO A NET LOSS OF $52.9 MILLION FOR 2018

* RESEARCH AND DEVELOPMENT (R&D) EXPENSES IN 2019 WERE $31.5 MILLION, COMPARED TO $22.0 MILLION IN 2018

* EXPECTS CASH USED FOR ONGOING OPERATING ACTIVITIES FOR THE FIRST SIX MONTHS OF 2020 TO RANGE FROM $30-$35 MLN

* EXPECTS THAT ITS CURRENT CASH, CASH EQUIVALENTS AND AVAILABLE-FOR-SALE SECURITIES WILL SUPPORT ITS ONGOING OPERATING ACTIVITIES INTO FOURTH QUARTER OF 2020

* EXPECTS TO REPORT OMIDUBICEL TOPLINE DATA FROM THE PHASE 3 STUDY IN THE SECOND QUARTER OF 2020

* TARGETS TO LAUNCH OMIDUBICEL IN 2021, CONTINGENT UPON FDA APPROVAL

* TARGETS TO PRESENT ADDITIONAL DATA FROM GDA-201 PHASE 1 STUDY IN THE FIRST HALF OF 2020

* EXPECTS TO PROVIDE FULL YEAR FINANCIAL GUIDANCE FOLLOWING THE AVAILABILITY OF TOPLINE PHASE 3 DATA FOR OMIDUBICEL

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Further company coverage: (Gdansk Newsroom)

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