On November 9, 2022 SQZ Biotechnologies (NYSE: SQZ), focused on unlocking the full potential of cell therapies for multiple therapeutic areas, reported third quarter 2022 financial results and recent portfolio updates (Press release, SQZ Biotech, NOV 9, 2022, View Source [SID1234623583]).

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"I am proud of the SQZ team’s accomplishments this quarter, including our publication showcasing the AAC platform, advancing our autoimmune preclinical work, and progress made developing our integrated point-of-care manufacturing system," said Armon Sharei, Ph.D., CEO and Founder at SQZ Biotechnologies. "As we head into the final stretches of the year, we look forward to sharing the latest available clinical data from our three oncology trials."

Third Quarter 2022 and Recent Portfolio Updates

SQZ Antigen Presenting Cell ("APC") Platform in Oncology

Continued enrollment of high dose monotherapy and combination with checkpoint inhibitors in the Phase 1/2 (SQZ-PBMC-HPV-101) trial
Anticipate additional monotherapy data in the highest-dose cohort and initial, interim data for patients in combination with checkpoint inhibitors
SQZ Enhanced Antigen Presenting Cell ("eAPC") Platform in Oncology

Continued enrollment for the monotherapy stage of the COMMANDER-001 Phase 1/2 (SQZ-eAPC-HPV) trial
Anticipate initial cohort 1 data by the end of 2022
SQZ Activating Antigen Carriers ("AAC") Platform in Oncology

Published comprehensive preclinical research in Frontiers in Immunology
Continued enrollment for the monotherapy stage of the ENVOY-001 Phase 1/2 (SQZ-AAC-HPV-101) trial
SQZ Tolerizing Antigen Carriers ("TAC") Platform in Immune Tolerance

Progressed studies supporting anticipated TAC Investigational New Drug (IND) submission for celiac disease in the first half of 2023
Company’s Point-of-Care (POC) manufacturing system intended to produce clinical batches and be operated outside of an ISO 7 cleanroom
SQZ Point-of-Care Manufacturing

Continued development and testing for utilization in anticipated SQZ TAC IND submission in the first half of 2023
Commenced evaluation of POC to produce additional therapeutic candidates to reduce future manufacturing-related costs; assessing the possibility of allowing access to the Cell Squeeze technology, associated methods and clinical-scale systems for manufacturing uses together with third parties
Recent Corporate Highlights

Elevated Micah Zajic to Chief Financial Officer from Chief Business Officer
Transitioned Chief Scientific Officer (CSO), Howard Bernstein, M.D., Ph.D., to the company’s Board of Directors; announced the division of CSO responsibilities among three experienced internal leaders: Ipsita Roymoulik, Ph.D., SVP, Chemistry Manufacturing and Controls; Scott Loughhead, Ph.D., VP, Translational Research; and Maisam Dadgar, Head of Engineering
Third Quarter 2022 Financial Highlights

Revenue for the quarter ended September 30, 2022, was $3.5 million compared to $4.8 million for the same period in 2021
Research and development expenses for the quarter ended September 30, 2022, were $19.6 million compared to $20.5 million for the same period in 2021; the decrease was primarily due to lower upfront manufacturing, materials and setup costs associated with the SQZ-eAPC-HPV trial
General and administrative expenses for the quarter ended September 30, 2022, were $6.9 million compared to $6.7 million for the same period in 2021; the increase was primarily due to higher personnel and other corporate-related costs, including stock-based compensation expense and other costs
Net loss for the quarter ended September 30, 2022, was $22.6 million, compared to $22.5 million for the same period in 2021
As of September 30, 2022, the Company had cash and cash equivalents of $84.2 million and anticipates this will be sufficient to fund operating expenses and capital expenditure requirements into the fourth quarter of 2023