PROVIDENCE – Rubius Therapeutics Inc. on Friday reported a loss of $196.5 million in 2021, or $2.23 per diluted share.
The clinical-stage biopharmaceutical company, which has built a manufacturing facility in Smithfield, reported a $167.7 million loss in 2021, or $2.08 per diluted share. The company is genetically engineering red blood cells to create an entirely new class of cellular medicines called Red Cell Therapeutics. The company, based in Cambridge, Mass., has not yet generated revenue.
“Twenty twenty-one was a year of strong execution for Rubius Therapeutics, as we advanced our clinical oncology pipeline, strengthened our in-house manufacturing capabilities and showed preclinical proof of concept of our tolerance induction approach in Type 1 diabetes, which has the potential to be extended to other T cell-mediated autoimmune diseases,” said Dr. Pablo J. Cagnoni, CEO and president of Rubius Therapeutics.
The company said it incurred a $55 million loss in the fourth quarter, or 61 cents per diluted share, compared with $40.5 million, or 50 cents per diluted share, one year prior.
In 2021, Rubius employed 242 people locally according to PBN’s Book of Lists.
