Rubius Therapeutics logs $50.2M loss in Q2

CAMBRIDGE, Mass. – The clinical-stage biopharmaceutical company Rubius Therapeutics Inc. reported a loss of $50.2 million in the second quarter, or 56 cents per diluted share. 

The company reported a $37.9 million loss one year prior, or 47 cents per share.

The company owns and operates a manufacturing facility in Smithfield.

“During the quarter, we continued to make excellent progress in advancing our fully owned oncology pipeline,” said Dr. Pablo J. Cagnoni, president and CEO. “Given the favorable emerging safety profile and promising initial clinical activity reported for RTX-240, we initiated a combination Phase 1 arm with pembrolizumab with the goal of providing benefit to patients with cancers that have relapsed or are refractory after treatment with anti-PD-1 or PD-L1 antibodies.”

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The company had $298.2 million in cash, cash equivalents and investments at the end of the quarter, an increase from $176.3 million at the end of 2020.