Astel­las takes $435M+ write­down on Evren­zo, hear­ing loss can­di­date and T cell ther­a­py deal

Astel­las is book­ing hun­dreds of mil­lions of dol­lars in im­pair­ment loss­es this year af­ter end­ing a TCR T cell ther­a­py de­vel­op­ment deal, drop­ping a part­nered can­di­date for hear­ing loss and see­ing dis­ap­point­ing sales for its drug Evren­zo in Japan and Eu­rope.

Astel­las $ALP­MY dipped a lit­tle over 2% Tues­day, clos­ing at $14.40.

As Adap­ti­m­mune dis­closed in March, Astel­las and Adap­ti­m­mune have end­ed a 2020 agree­ment to de­vel­op cell ther­a­pies — and Astel­las is tak­ing an im­pair­ment loss of in­tan­gi­ble as­sets of ¥4.7 bil­lion ($35.1 mil­lion) thanks to the ter­mi­na­tion, Astel­las an­nounced Tues­day.

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