SOUTH SAN FRANCISCO, Calif. - Twist Bioscience (NASDAQ:TWST) Corporation (NASDAQ: TWST), a synthetic biology company, has announced the development of a novel antibody, TB206-001, with the potential to enhance cancer immunotherapy. The antibody targets the adenosine A2A receptor (A2AR), an immune checkpoint involved in tumor immune evasion.
A2AR has been identified as a critical player in the suppression of immune response within the tumor microenvironment. It is a G protein-coupled receptor (GPCR) that, when activated by excess adenosine produced by tumors, can inhibit immune cell function. By antagonizing A2AR, TB206-001 aims to lift this suppression and reactivate the immune system against cancer cells.
The discovery, detailed in a study published in the journal PLOS ONE, highlights the antibody's high affinity and specificity for A2AR, distinguishing it from other adenosine receptors. Preclinical studies have demonstrated TB206-001's capacity to reduce tumor growth in animal models, outperforming existing PD-1 inhibitors.
TB206-001 is now available for out-licensing, as Twist Bioscience seeks a partner to further develop the antibody. Twist CEO and co-founder Emily M. Leproust, Ph.D., expressed optimism about the antibody's potential as a powerful inhibitor to restore immune responses in cancer.
The study involved immunizing animals with DNA encoding for A2AR, followed by the creation of phage display libraries from the immune repertoire. Screening these libraries led to the identification of TB206-001, which showed tumor-suppressing activity in vivo.
Gregory Carven, Ph.D., one of the original inventors of the cancer immunotherapy drug Keytruda, noted the promise of TB206-001 as a standalone therapy or in combination with other treatments.
Twist Bioscience specializes in synthetic DNA production, serving industries such as healthcare, industrial chemicals, agriculture, and academic research. The company's proprietary DNA synthesis platform has been leveraged to create a range of products, including those for drug discovery and development.
The information in this article is based on a press release statement from Twist Bioscience. The company cautions that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Such statements reflect current expectations and are subject to change.
In other recent news, Twist Bioscience Corporation has experienced significant developments. The company reported a notable 25% rise in revenue for the fiscal 2024 second quarter, reaching $75.3 million. This surge was largely attributed to the synthetic biology product line and Next-Generation Sequencing (NGS) segment, resulting in a gross margin exceeding projections at 41%. Twist Bioscience anticipates a gross margin above 50% by the end of fiscal 2025.
Simultaneously, Barclays (LON:BARC) has maintained an Overweight rating for Twist Bioscience shares, identifying an opportunity arising from government inquiries into a competitor's business operations. These investigations into GenScript's dealings may potentially lead to market share gains for domestic companies in the synthetic DNA space, including Twist Bioscience.
The recent developments reflect Twist Bioscience's ongoing financial performance and market strategies. Despite reporting a net loss of $45.5 million for the quarter, the company remains optimistic about its market position, particularly in the biopharma sector.
InvestingPro Insights
Twist Bioscience Corporation (NASDAQ: TWST) has recently shared exciting developments in cancer immunotherapy, which may be of particular interest to investors monitoring the biotech sector. Here are some key metrics and insights from InvestingPro that provide a financial perspective on the company's performance:
InvestingPro Data indicates that Twist Bioscience has a Market Cap of approximately $3.08 billion USD. Despite the company's innovative strides in synthetic biology, the P/E Ratio stands at -15.63, reflecting the current lack of profitability, a sentiment echoed by the adjusted P/E Ratio for the last twelve months as of Q2 2024 at -16.98.
Still, the company's growth narrative is supported by a robust Revenue Growth of 21.79% over the last twelve months as of Q2 2024. This is further bolstered by a Gross Profit Margin of 38.29%, which signifies the company's ability to maintain a substantial markup on its products.
InvestingPro Tips highlight that the stock has demonstrated a significant return over the last week with a 29.39% increase, and an impressive 211.13% return over the last year, indicating strong investor enthusiasm. Moreover, the company's liquid assets exceed short-term obligations, providing it with a stable financial buffer for its operations.
It is worth noting that analysts from InvestingPro do not anticipate the company to be profitable this year, which aligns with the negative P/E Ratio. Moreover, the stock price movements have been quite volatile, a factor that investors should consider when evaluating the risk associated with the investment.
For investors seeking more detailed analysis and additional InvestingPro Tips, there are 15 more insights available for Twist Bioscience at https://www.investing.com/pro/TWST. These can provide a deeper understanding of the company's financial health and market position. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive investment tool to navigate the complexities of the market.
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