AUTL · Autolus Therapeutics plc

Autolus Therapeutics reported first quarter 2026 financial results, highlighting AUCATZYL net product revenue of $26.2 million, a significant increase from $9.0 million in the same quarter last year, driven by strong commercial launches in the US and UK. The company achieved a positive gross profit of $1.6 million for the first time, compared to negative gross profit in prior quarters, reflecting improved manufacturing plant operation and increasing volumes. Cost of sales rose to $24.6 million from $18.0 million, primarily due to higher product sales and inventory reserves. Research and development expenses decreased to $21.2 million from $26.7 million, while selling, general and administrative expenses increased to $39.9 million from $29.5 million, driven by commercialization activities and one-time termination costs related to the strategic cost reduction initiative announced in April 2026. Net loss widened slightly to $71.6 million from $70.2 million, with basic and diluted net loss per share of $(0.27) versus $(0.26). Cash, cash equivalents and marketable securities stood at $229.4 million as of March 31, 2026, down from $300.7 million at year-end 2025, primarily due to operating cash use. Management reiterated full-year 2026 AUCATZYL net product revenue guidance of $120-$135 million and expects continued positive gross margin. The company also provided updates on its pipeline: the Phase 2 CATULUS trial in pediatric ALL is enrolling with data expected end-2027; the LUMINA Phase 2 trial in lupus nephritis is enrolling with data expected in 2028; and the BOBCAT Phase 1 trial in progressive MS is enrolling with initial data expected end-2026. The cost reduction initiative, including a 13% workforce reduction, is expected to reduce operating expenses by approximately $15 million annually starting in 2027, with restructuring charges of about $8 million recognized in the first half of 2026.