AdAlta Limited (ASX:1AD) Reports Q3 FY25 Progress on Immunotherapy Strategy
Strategic Progress
AdAlta Limited prioritised its “East to West” cellular immunotherapy strategy, executing three CAR-T term sheets. Technical due diligence was substantially completed, with the first licensing agreement targeted for the June quarter 2025.
Financial Update
The company reported net operating cash outflows of $1.2 million for Q3 FY25, with a cash balance of $0.83 million. AdAlta implemented cost reduction measures, including ceasing internal R&D and engaging capital market advisors for a potential capital raise.
Executive Comments
CEO and Managing Director Dr Tim Oldham stated, “The March 2025 quarter was both positive and challenging. AdAlta made exciting and significant progress advancing our “East to West” cellular immunotherapy strategy. Successfully completing technical due diligence on all three assets was an important milestone. While the business model continues to be well received, the financing environment remains challenging and became more challenging during the quarter due to global financial market volatility. We have multiple ongoing and highly productive discussions with potential investors, however we have not yet been able to meet the conditions to receive SYNBV’s investment or to secure the capital to support licensing our first CAR-T asset. As a result we have implemented appropriate cost reduction measures and engaged capital market advisors to enable us to focus on executing transactions while reviewing other strategic options for the business and its assets.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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