Astel­las writes off $560M loss, drop­ping gene ther­a­py pro­grams, on­col­o­gy an­ti­body

Af­ter re­peat­ed set­backs in gene ther­a­py, Astel­las is writ­ing off more than half a bil­lion dol­lars in loss­es — and gut­ting can­di­dates that were once thought to have mas­sive po­ten­tial.

Astel­las said in a state­ment Fri­day that it is book­ing an “im­pair­ment loss” over two fis­cal quar­ters: Q4 of the last fis­cal year end­ing March 31, 2022, and Q1 of the new fis­cal that start­ed April 1. The to­tal loss? Just un­der $390 mil­lion for Q4, and $170 mil­lion for the new quar­ter.

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