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CENTURY THERAPEUTICS Century Therapeutics Reports Second Quarter 2021 Financial Results and Business Updates August 12 , 2021 Continued Company investment across our iPSC platforms , programs , and manufacturing Lead program , CNTY - 101 , remains on track for IND filing in mid - 2022 Recent IPO with net proceeds of approximately $ 221M June 30 , 2021 cash , cash equivalents , and marketable securities of $ 440M PHILADELPHIA , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) -- Century Therapeutics , ( NASDAQ : IPSC ) , an innovative biotechnology company developing induced pluripotent stem cell ( iPSC ) -derived cell therapies in immuno - oncology , today reported financial results and business highlights for the second quarter ended June 30 , 2021 . " With the proceeds raised from our IPO in June , we are well positioned to advance our lead candidate CNTY - 101 toward clinical development , targeting IND filing in mid - 2022 , " said Lalo Flores , Chief Executive Officer , Century Therapeutics . " We continue our investment in our iPSC platforms and are pleased with the progress achieved in developing iPSC - derived cell product candidates for the treatment of cancers with high unmet clinical need . We look forward to providing scientific updates on our programs and platform in the second half of 2021. " Recent Highlights • Raised $ 221 million in public offering of common stock : In June 2021 , the company announced a public offering of 10,550,000 shares of its common stock at a price of $ 20 per share . The underwriters also exercised their option to purchase an additional 1,582,500 shares of common stock for total offering net proceeds of $ 221 million . • Expanded our Board of Directors : The Company appointed pharmaceutical industry veterans Alessandro Riva , M.D. and Kimberly Blackwell , M.D. , as new Independent Directors . • Continued manufacturing and technical operations investment : Our US manufacturing facility is expected to be operational by end of 2021 . Second Quarter 2021 Financial Results • Cash Position : Cash , cash equivalents and marketable securities were $ 440.0 million as of June 30 , 2021 , as compared to $ 246.1 million as of March 31 , 2021. This includes $ 221.2 million in net proceeds from the company's public offering in June 2021 . • Research and Development ( R & D ) expenses : R & D expenses were $ 18.9 million for the three months ended June 30 , 2021 , compared to $ 8.5 million for the same period in 2020 . General and Administrative ( G & A ) expenses : G & A expenses were $ 4.1 million for the three months ended June 30 , 2021 , compared to $ 2.3 million for the same period in 2020 . • Net loss : Net loss was $ 23.3 million for the three months ended June 30 , 2021 , compared to $ 15.3 million for the same period in 2020 . About Century Therapeutics Century Therapeutics ( NASDAQ : IPSC ) is harnessing the power of adult stem cells to develop curative cell therapy products for cancer that we believe will allow us to overcome the limitations of first - generation cell therapies . Our genetically engineered , iPSC - derived iNK and iT cell product candidates are designed to specifically target hematologic and solid tumor cancers . We are leveraging our expertise in cellular reprogramming , genetic engineering , and manufacturing to develop therapies with the potential to overcome many of the challenges inherent to cell therapy and provide a significant advantage over existing cell therapy technologies . We believe our commitment to developing off - the - shelf cell therapies will expand patient access and provide an unparalleled opportunity to advance the course of cancer care . For more information on Century Therapeutics please visit https://www.centurytx.com/ . Forward - Looking Statements This press release contains forward - looking statements within the meaning of , and made pursuant to the safe harbor provisions of , The Private Securities Litigation Reform Act of 1995. All statements contained in this press release , other than statements of historical facts or statements that relate to present facts or current conditions , including but not limited to , statements regarding our cash and financial resources , our clinical development plans , and the development of our U.S. manufacturing facility are forward - looking statements . These statements involve known and unknown risks , uncertainties and other important factors that may cause our actual results , performance , or achievements to be materially different from any future results , performance or achievements expressed or implied by the forward - looking statements . In some cases , you can identify forward - looking statements by terms such as “ may , ” “ might , ” “ will , ” “ should , ” “ expect , ” “ plan , ” “ aim , ” “ seek , " " anticipate , ” “ could , ” “ intend , ” “ target , " " project , " " contemplate , ” “ believe , ” “ estimate , ” “ predict , ” “ forecast , " " potential " or " continue " or the negative of these terms or other similar expressions . The forward - looking statements in this presentation are only predictions . We have based these forward - looking statements largely on our current