Century Therapeutics (IPSC) Q1 2026 earnings summary

Executive summary

• Focused on developing allogeneic pluripotent stem cell therapies for autoimmune diseases and cancer, with lead programs in islet, T cell, and NK cell therapies.

• Advanced CNTY-813, an iPSC-derived islet therapy for type 1 diabetes, remains on track for IND submission in Q4 2026 and initial clinical data in 2H 2027.

• CNTY-308, a CD19-targeted CAR-iT cell therapy, is expected to enter clinical trials in 2026, pending regulatory clearance.

• Terminated collaboration with Bristol-Myers Squibb in March 2025, resulting in recognition of remaining revenue.

• Raised $126.4 million in a private placement in January 2026 to fund development and operations.

Financial highlights

• Cash, cash equivalents, and investments totaled $217.0 million as of March 31, 2026, up from $117.1 million at year-end 2025.

• Net loss of $21.6 million for Q1 2026, compared to net income of $76.6 million in Q1 2025 (driven by one-time collaboration revenue in 2025).

• Research and development expenses decreased to $17.1 million from $26.6 million year-over-year, mainly due to reduced personnel and lower clinical trial spending.

• General and administrative expenses decreased to $6.6 million from $8.4 million year-over-year.

• Net cash used in operating activities: $25.3 million for Q1 2026, down from $34.6 million in Q1 2025.

Outlook and guidance

• Cash runway expected to fund operations into Q1 2029 based on current plans.

• IND submission for CNTY-813 expected in Q4 2026, with initial clinical data anticipated in 2H 2027.

• CNTY-308 clinical trial initiation planned for 2026, pending regulatory approval.

• Anticipates increased expenses and operating losses as clinical and preclinical programs advance.

• May require additional financing for future operations and commercialization.