• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    SQZ Biotechnologies Reports First Quarter 2023 Financial Results and Recent Portfolio Updates

    5/10/23 4:45:00 PM ET
    $SQZ
    Medicinal Chemicals and Botanical Products
    Health Care
    Get the next $SQZ alert in real time by email
    • Phase 1 SQZ-AAC-HPV-101 Clinical Trial Resumed Following the Observation of a Confirmed Complete Response in the First Patient in the Lowest-Dose Cohort; Anticipate Data for the Highest-Dose Cohort in the Fourth Quarter of 2023
    • SQZ® eAPC Phase 1/2 Trial Enrollment on Track; Anticipate Data for the Highest-Dose Monotherapy Cohort in Mid-2023

    SQZ Biotechnologies Company (NYSE:SQZ), focused on unlocking the full potential of cell therapies, today reported first quarter 2023 financial results and recent portfolio updates.

    "The confirmed complete response in our first patient in the AAC trial has brought enthusiasm to our trial sites, and we are encouraged by the positive momentum for enrollment in both the AAC and eAPC clinical trials," said Howard Bernstein, M.D., Ph.D., Interim Chief Executive Officer and Member of the Board of Directors. "This is a crucial period for SQZ, and I am proud of our team's unrelenting commitment to help our patients. We are excited to gather more data in our trials and look forward to sharing our findings later this year."

    First Quarter 2023 and Recent Portfolio Updates

    Clinical Programs:

    SQZ® Enhanced Antigen Presenting Cell ("eAPC") Platform in Oncology

    • Enrolling highest-dose cohort of monotherapy dose escalation trial
    • On track to report initial clinical data for the middle- and highest-dose monotherapy cohorts in the middle of 2023

    SQZ® Activating Antigen Carriers ("AAC") Platform in Oncology

    • A confirmed complete response (CR), by RECIST 1.1 criteria, was observed in the first patient in the lowest-dose cohort of the SQZ-AAC-HPV-101 Phase 1 clinical trial for HPV16+ solid tumors
      • In light of the response, the Company resumed patient enrollment in the SQZ-AAC-HPV-101 clinical trial
    • The Study Safety Committee recommended the Company move directly to the highest-dose cohort
    • Currently enrolling patients for the highest-dose cohort
    • Initial clinical data from the highest-dose cohort is anticipated in the fourth quarter of 2023

    Earlier Stage Programs:

    • The Company will continue to explore partnerships and collaborations for its earlier stage assets and programs, including SQZ® Tolerizing Antigen Carriers ("TAC") Platform in Immune Tolerance

    First Quarter 2023 Financial Highlights

    • Revenue for the quarter ended March 31, 2023, was $0.0 compared to $2.9 million for the same period in 2022
    • Research and development expenses for the quarter ended March 31, 2023, were $13.0 million compared to $17.0 million for the same period in 2022
    • General and administrative expenses for the quarter ended March 31, 2023, were $5.3 million compared to $6.9 million for the same period in 2022
    • Net loss for the quarter ended March 31, 2023, was $17.7 million, compared to $21.0 million for the same period in 2022
    • As of March 31, 2023, the Company had cash and cash equivalents of $39.9 million and anticipates this will be sufficient to fund operating expenses and capital expenditure requirements into 2024

    About SQZ Biotechnologies

    SQZ Biotechnologies is a clinical-stage biotechnology company focused on unlocking the full potential of cell therapies. The Company's proprietary Cell Squeeze® technology offers the unique ability to deliver multiple biological materials into many patient cell types to engineer what the Company believes can be a broad range of potential therapeutics. The Company's goal is to create well-tolerated cell therapies that can provide therapeutic benefit for patients and improve the patient experience over existing cell therapy approaches. With production timelines under 24 hours and the opportunity to eliminate preconditioning and lengthy hospital stays, the Company believes its approach could change the way people think about cell therapies. For more information, please visit www.sqzbiotech.com.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements relating to the timing and outcome of the Company's clinical trials, clinical safety and efficacy of its therapeutic candidates, the potential addressable market for the Company's therapeutic candidates and cash availability. These forward-looking statements are based on management's current expectations. Actual results could differ from those projected in any forward-looking statements due to several risk factors. Such factors include, among others, risks and uncertainties related to the Company's significant losses incurred since inception and expectation to incur significant additional losses for the foreseeable future; the Company's need for additional funding; our ability to continue as a going concern; our ability to successfully execute and achieve the anticipated benefits of our restructuring plan; the development of the Company's initial product candidates, upon which its business is highly dependent; the impact of the COVID-19 pandemic on the Company's operations and clinical activities; the lengthy, expensive, and uncertain process of clinical drug development, including uncertain outcomes of clinical trials and potential delays in regulatory approval; and protection of the Company's proprietary technology, intellectual property portfolio and the confidentiality of its trade secrets. These and other important factors discussed under the caption "Risk Factors" in the Company's Quarterly Report on Form 10-Q, the company's Annual Report on Form 10-K, and other filings with the U.S. Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements. Any forward-looking statements represent management's estimates as of this date and the Company undertakes no duty to update these forward-looking statements, whether as a result of new information, the occurrence of current events, or otherwise, unless required by law.

    SQZ BIOTECHNOLOGIES COMPANY

    Condensed Consolidated Statements of Operations

    (In thousands, except share and per share amounts)

    (unaudited)

     

     

    THREE MONTHS ENDED

    MARCH 31,

     

     

    2023

     

    2022

    Collaboration revenue

     

    $

    —

     

     

    $

    2,869

     

    Operating expenses:

     

     

     

     

     

     

    Research and development

     

     

    12,976

     

     

     

    17,010

     

    General and administrative

     

     

    5,279

     

     

     

    25,719

     

     

     

     

     

     

     

     

    Total operating expenses

     

     

    18,255

     

     

     

    23,922

     

    Loss from operations

     

     

    (18,255

    )

     

     

    (21,053

    )

    Other income, net

     

     

    568

     

     

     

    15

     

    Net loss

     

     

    (17,687

    )

     

     

    (21,038

    )

    Net loss per share attributable to common stockholders, basic and diluted

     

    $

    (0.60

    )

     

    $

    (0.75

    )

    Weighted-average common shares outstanding, basic and diluted

     

     

    29,491,125

     

     

     

    28,145,036

     

    SQZ BIOTECHNOLOGIES COMPANY

    Condensed Consolidated Balance Sheets

    (In thousands)

    (unaudited)

     

     

     

     

     

    MARCH 31,

    2023

     

    DECEMBER 31,

    2022

    Assets

     

     

     

     

     

     

    Cash and cash equivalents

     

    $

    39,872

     

    $

    63,709

    Other current assets

     

     

    4,576

     

     

    4,495

    Total current assets

     

     

    44,448

     

     

    68,204

    Other assets

     

     

    28,709

     

     

    31,696

    Total assets

     

    $

    73,157

     

    $

    99,900

    Liabilities and Stockholders' Equity

     

     

     

     

     

     

    Current liabilities

     

     

    12,690

     

     

    21,843

    Long term liabilities

     

     

    20,311

     

     

    20,909

    Total liabilities

     

     

    33,001

     

     

    42,752

    Total stockholders' equity

     

     

    40,156

     

     

    57,148

    Total liabilities and stockholders' equity

     

    $

    73,157

     

    $

    99,900

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20230510005724/en/

    Get the next $SQZ alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $SQZ

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $SQZ
    SEC Filings

    See more
    • SEC Form DEFM14A filed by SQZ Biotechnologies Company

      DEFM14A - SQZ Biotechnologies Co (0001604477) (Filer)

      1/23/24 4:31:01 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SEC Form PREM14A filed by SQZ Biotechnologies Company

      PREM14A - SQZ Biotechnologies Co (0001604477) (Filer)

      1/12/24 8:57:36 AM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SEC Form 15-12G filed by SQZ Biotechnologies Company

      15-12G - SQZ Biotechnologies Co (0001604477) (Filer)

      1/4/24 4:15:33 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care

    $SQZ
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by SQZ Biotechnologies Company (Amendment)

      SC 13G/A - SQZ Biotechnologies Co (0001604477) (Subject)

      2/13/24 5:13:06 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SEC Form SC 13G/A filed by SQZ Biotechnologies Company (Amendment)

      SC 13G/A - SQZ Biotechnologies Co (0001604477) (Subject)

      2/9/24 5:10:57 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SEC Form SC 13G/A filed by SQZ Biotechnologies Company (Amendment)

      SC 13G/A - SQZ Biotechnologies Co (0001604477) (Subject)

      2/14/23 2:25:08 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care

    $SQZ
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 4 filed by Vink Patrick V.J.J.

      4 - SQZ Biotechnologies Co (0001604477) (Issuer)

      6/15/23 4:48:26 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SEC Form 4 filed by Srivastava Sapna

      4 - SQZ Biotechnologies Co (0001604477) (Issuer)

      6/15/23 4:47:28 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SEC Form 4 filed by Schulman Amy W

      4 - SQZ Biotechnologies Co (0001604477) (Issuer)

      6/15/23 4:46:40 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care

    $SQZ
    Leadership Updates

    Live Leadership Updates

    See more
    • SQZ Biotechnologies Announces Leadership Transition

      Chief Scientific Officer, Howard Bernstein, M.D., Ph.D., to Become Member of the Company's Board of Directors, Effective October 31, 2022 CSO Responsibilities to be Shared Among Ipsita Roymoulik, Ph.D., Scott Loughhead, Ph.D., and Maisam Dadgar as Senior Leaders of Chemistry, Manufacturing and Controls; Translational Research; and Engineering SQZ Biotechnologies Company (NYSE:SQZ), focused on unlocking the full potential of cell therapies for multiple therapeutic areas, today announced that Howard Bernstein, M.D., Ph.D., has been appointed to the company's board of directors, effective October 31, 2022. Dr. Bernstein has served as the company's Chief Scientific Officer since July 2015, a

      9/6/22 4:30:00 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SQZ Biotechnologies Appoints Micah Zajic as Chief Financial Officer

      Experienced Biotech Leader and Capital Markets Professional Elevated to Chief Financial Officer from Chief Business Officer Role Appointment Effective July 11, 2022 SQZ Biotechnologies (NYSE:SQZ), focused on unlocking the full potential of cell therapies for multiple therapeutic areas, today announced that it has appointed Micah Zajic, as the company's Chief Financial Officer, effective immediately. Mr. Zajic has served as the company's Chief Business Officer since October 2020 and brings nearly 20 years of biotechnology and capital markets experience to the role. As CFO, Mr. Zajic will continue to report to the CEO and will lead the company's finance and accounting, business development,

      7/11/22 4:45:00 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SQZ Biotechnologies Appoints Marshelle Smith Warren, M.D., as Chief Medical Officer

      Experienced Drug Developer Brings Over 25 Years of Clinical Development Industry Knowledge Across Oncology, Immunology, and Infectious Disease Appointment Effective June 1st, 2022 SQZ Biotechnologies (NYSE:SQZ), focused on unlocking the full potential of cell therapies for multiple therapeutic areas, today announced that it has appointed Marshelle Smith Warren, M.D., as Chief Medical Officer. Dr. Warren will report to the CEO and lead the company's clinical development, clinical operations, translational medicine, and regulatory affairs functions. Marshelle has tremendous experience in cell-based therapeutic development and will provide complementary expertise as we seek to rapidly advan

      5/31/22 4:45:00 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care

    $SQZ
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • SQZ Biotechnologies to Consolidate Shares with 1-for-10 Reverse Stock Split

      Company Received Notice Regarding NYSE Continued Listing Standards Section 802.01B SQZ Biotechnologies Company (NYSE:SQZ) (the "Company" or "SQZ"), focused on unlocking the full potential of cell therapies, today announced that its Board of Directors (the "Board") has approved a 1-for-10 reverse stock split ("reverse split") of its common stock, par value $0.001 per share ("Common Stock"), that is expected to become effective on Thursday, July 6, 2023 at 5:00 p.m. Eastern Time (the "Effective Date"). The Company's common stock is expected to begin trading on a split-adjusted basis on the New York Stock Exchange ("NYSE") on July 7, 2023, under the existing symbol "SQZ" and new CUSIP number

      6/15/23 4:30:00 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SQZ Biotechnologies Reports First Quarter 2023 Financial Results and Recent Portfolio Updates

      Phase 1 SQZ-AAC-HPV-101 Clinical Trial Resumed Following the Observation of a Confirmed Complete Response in the First Patient in the Lowest-Dose Cohort; Anticipate Data for the Highest-Dose Cohort in the Fourth Quarter of 2023 SQZ® eAPC Phase 1/2 Trial Enrollment on Track; Anticipate Data for the Highest-Dose Monotherapy Cohort in Mid-2023 SQZ Biotechnologies Company (NYSE:SQZ), focused on unlocking the full potential of cell therapies, today reported first quarter 2023 financial results and recent portfolio updates. "The confirmed complete response in our first patient in the AAC trial has brought enthusiasm to our trial sites, and we are encouraged by the positive momentum for e

      5/10/23 4:45:00 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SQZ Biotechnologies Announces Confirmed Complete Response in HPV16+ Solid Tumor Patient in the Lowest-Dose Cohort of the SQZ-AAC-HPV-101 Clinical Trial

      A confirmed complete response was observed in the first patient in the lowest-dose cohort of the Phase 1 SQZ-AAC-HPV-101 clinical trial Following review and recommendation by the Study Safety Committee, the Company is advancing SQZ-AAC-HPV-101 trial to the highest-dose cohort Strong enrollment rates; Anticipate initial clinical data from the highest-dose cohort in the fourth quarter of 2023 SQZ Biotechnologies Company (NYSE:SQZ), focused on unlocking the full potential of cell therapies, today announced that, according to RECIST 1.1 criteria, a confirmed complete response was observed in the first patient in the lowest-dose cohort of the Phase 1 SQZ-AAC-HPV-101 clinical trial. The co

      3/22/23 4:50:00 PM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care

    $SQZ
    Financials

    Live finance-specific insights

    See more
    • SQZ Biotechnologies Announces Lead Cell Therapy Candidate Induced Radiographic, Symptomatic and Immune Response as Monotherapy in Post-Checkpoint HPV+ Solid Tumor Patient

      Patient's Clinical, Radiographic and Histologic Results Support Potential Impact of SQZ Investigational Therapeutic  Patient Demonstrated Symptomatic Improvement Radiographic Response Observed in Target Lesion Tumor Conversion from Desert to Inflamed Phenotype with 8-Fold Increase in CD8 T Cell Tumor Infiltration and 50-Fold Increase in Tumor PD-L1 Expression Interim Results from Ongoing Phase 1/2 Trial Showed Favorable Safety Data and Investigational Therapy was Generally Well Tolerated  Company to Host Conference Call Today at 8:00 a.m. ET SQZ Biotechnologies Company (NYSE:SQZ), a cell therapy company developing novel treatments for multiple therapeutic areas, today presented

      12/9/21 6:10:00 AM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care
    • SQZ Biotechnologies Lead Cell Therapy Candidate Generated Monotherapy Clinical Response Correlated with Substantial CD8 T Cell Tumor Infiltration in HPV+ Solid Tumor at Highest Dose

      Interim SQZ-PBMC-HPV Results from Ongoing Phase 1/2 Trial Showed Favorable Safety Data and that Therapy was Generally Well Tolerated Oral Presentation at ESMO Immuno-Oncology Congress on December 9 to Focus on Highest-Dose Monotherapy Cohort of SQZ™ APC Candidate Company to Host Conference Call on December 9 at 8:00 a.m. ET SQZ Biotechnologies Company (NYSE:SQZ), a cell therapy company developing novel treatments for multiple therapeutic areas, today announced interim results from the highest-dose monotherapy cohort of its ongoing Phase 1/2 clinical trial of SQZ-PBMC-HPV, an investigational cell therapy being evaluated in certain patients with advanced or metastatic Human Papillomavirus

      12/2/21 6:15:00 AM ET
      $SQZ
      Medicinal Chemicals and Botanical Products
      Health Care