Century Narrows Third-Quarter Loss After Cost Cuts

The Tip Desk · November 12, 2026 · 3 min read

The iPSC cell-therapy company posted a $23.5 million net loss, or $0.11 a share, as R&D spending fell to $18.1 million.

Century Therapeutics (IPSC) reported a narrower third-quarter loss as it cut research spending after a portfolio prioritization, while keeping CNTY-308 on track for clinical entry in 2026 and CNTY-813 on track for IND submission in the fourth quarter of 2026.

The biotechnology company developing induced pluripotent stem cell therapies for autoimmune disease, including type 1 diabetes, posted a net loss of $23.5 million for the three months ended September 30, 2026, compared with a net loss of $34.4 million a year earlier. Loss per share was $0.11, versus $0.40 in the year-ago quarter. Collaboration revenue remained zero.

Research and development expenses were $18.1 million, down from $22.5 million in the same period of 2025. The company said the decrease was primarily the result of a reduction in personnel and a reduction in facility costs as a result of previously announced portfolio prioritization. General and administrative expenses were $7.1 million, compared with $6.8 million a year earlier. Weighted average common shares outstanding, basic, were 206.4 million, versus 86.5 million in the year-ago quarter, reflecting a $135 million private placement completed in January 2026.

Cash, cash equivalents, and investments were $174.1 million as of September 30, 2026, down from $197.2 million as of June 30, 2026. The company estimates that cash position will support operations into the first quarter of 2029.

The quarter’s scientific update centered on CNTY-813, an iPSC-derived islet replacement therapy for type 1 diabetes. At the 62nd Annual Meeting of the European Association for the Study of Diabetes, Century presented new nonclinical data showing that Allo-Evasion 5.0-edited CNTY-813 islets rapidly restored normoglycemia in streptozotocin-induced diabetic mice and maintained glycemic control until graft removal in a study lasting more than eleven months. That extended the more-than-eight-months durable glucose control the company highlighted after the June American Diabetes Association meeting. All mice administered CNTY-813 achieved normoglycemia, and the islets showed glucose-stimulated insulin secretion potency similar to that of primary islets.

Five clinical-scale batches from Century’s GMP Master Cell Bank produced consistent final product profiles, with the final product exceeding purity criteria. In rats, CNTY-813 islets delivered via the liver portal vein had engrafted in the liver at one month post-transplant and stained positive for insulin and chromogranin A. Mice transplanted with clinical-scale islets after 96 hours of cold storage normalized blood glucose within 30 days and maintained normoglycemia through three months of follow-up, which the company said supported its planned clinical supply chain strategy.

Following a pre-IND meeting, Century and the FDA reached general alignment on the nonclinical data package, the Phase 1 manufacturing process, and the proposed Phase 1/2 clinical trial design. The company expects to submit an IND for CNTY-813 in the fourth quarter of 2026 and anticipates initial safety and early efficacy data from the first-in-human study in the second half of 2027.

CNTY-308, a CD19-targeted CAR-iT cell therapy with Allo-Evasion 5.0, remained on track to enter the clinic in 2026. Century said it aligned with health authorities on nonclinical, manufacturing, and Phase 1 parameters. In nonclinical studies, CNTY-308 demonstrated functional comparability to autologous primary CAR-T cells, including in target-driven proliferation, cytokine secretion, and persistence.

Chief Executive Officer Brent Pfeiffenberger said the company remains focused on disciplined execution as it advances the two programs toward the clinic over the coming months, and that with general alignment reached with the FDA for both programs, Century remains on track this year for clinical entry of CNTY-308 and IND submission of CNTY-813, positioning it for a transition to clinical execution in 2027.

Century also appointed Joseph Truitt to its Board of Directors. Mr. Truitt is Chief Executive Officer of iECURE, Inc. and Chairman of the Board of Larimar Therapeutics, and previously served as Chief Executive Officer of BioSpecifics Technologies Corp. and Achillion Pharmaceuticals.