Gritstone bio, Inc. (GRTS) Bundle
A Brief History of Gritstone bio, Inc. (GRTS)
Company Formation
Gritstone bio, Inc. was founded in 2015 in Berkeley, California. The company focuses on developing cancer immunotherapies and is known for its proprietary technology platform that aims to generate personalized neoantigen vaccines.
Initial Funding and Growth
In 2016, Gritstone bio secured $45 million in Series A funding, led by OrbiMed Advisors and supported by other major investors.
By 2018, the company had raised a total of $128 million through various funding rounds, reaching a valuation of approximately $480 million by the end of that year.
Public Offering
On June 24, 2020, Gritstone bio went public, raising $120 million through its initial public offering (IPO) with shares priced at $16.00 each. The company traded under the ticker symbol GRTS.
Recent Financial Performance
As of Q2 2023, Gritstone bio reported revenue of $10.5 million, primarily from collaboration agreements and grants. The net loss for the same quarter was approximately $17.2 million, reflecting continued investment in R&D.
| Year | Funding Amount ($ Million) | Total Revenue ($ Million) | Net Loss ($ Million) | Employee Count |
|---|---|---|---|---|
| 2016 | 45 | 0 | -10 | 15 |
| 2018 | 128 | 0 | -22 | 40 |
| 2020 | 120 (IPO) | 2.3 | -15.5 | 60 |
| 2023 (Q2) | N/A | 10.5 | -17.2 | 70 |
Partnerships and Collaborations
Gritstone bio has entered into various collaborations, including a strategic partnership with Genentech in 2019 to develop personalized immunotherapies. In 2022, the company announced a collaboration with Pfizer to enhance its neoantigen platform.
Pipeline Development
As of 2023, Gritstone bio's clinical pipeline includes:
- GRS-1001: Personalized neoantigen immunotherapy for solid tumors.
- GRS-2001: Combination therapy with anti-PD-1 for advanced cancer.
- GRS-5001: Neoantigen vaccine targeting colorectal cancer.
Market Position and Future Outlook
With a growing focus on personalized medicine, Gritstone bio aims to position itself as a leader in the immunotherapy space, targeting market opportunities projected to exceed $100 billion by 2025.
A Who Owns Gritstone bio, Inc. (GRTS)
Major Shareholders
As of the latest available data, Gritstone bio, Inc. (GRTS) has several key shareholders holding significant stakes:
- BlackRock, Inc. - 7.7% ownership
- Vanguard Group, Inc. - 6.5% ownership
- RA Capital Management - 10.2% ownership
- Biotech Target Opportunities Fund - 5.1% ownership
- Others (including institutional and retail investors) - 70.5% ownership distributed among various other funds and individual stakeholders
Management Team
The management of Gritstone bio, Inc. plays a critical role in the company's direction and ownership structure:
- Andrew Allen, M.D., Ph.D. - Co-founder and CEO
- Emily McGowan, M.P.H. - CFO
- Justin D. Ash, M.D. - Chief Medical Officer
- Jon T. H. R. Riddell, Ph.D. - Chief Scientific Officer
Insider Ownership
Insider ownership is crucial for understanding the internal alignment with shareholders:
| Name | Position | Shares Owned | Percentage Ownership |
|---|---|---|---|
| Andrew Allen, M.D., Ph.D. | Co-founder and CEO | 1,200,000 | 3.1% |
| Emily McGowan, M.P.H. | CFO | 500,000 | 1.3% |
| Justin D. Ash, M.D. | Chief Medical Officer | 300,000 | 0.8% |
| Jon T. H. R. Riddell, Ph.D. | Chief Scientific Officer | 400,000 | 1.0% |
Market Performance
The stock performance of Gritstone bio, Inc. provides insight into its market valuation:
- Market Capitalization: $300 million as of the latest trading day
- Current Share Price: $3.00
- 52-week Range: $2.50 - $5.00
- Average Daily Volume: 250,000 shares
Institutional Ownership Trends
Institutional ownership has seen fluctuations over time, influencing the control dynamics:
| Quarter | Institutional Ownership Percentage | Change from Previous Quarter |
|---|---|---|
| Q1 2023 | 45.3% | +2.1% |
| Q2 2023 | 48.2% | +2.9% |
| Q3 2023 | 47.1% | -1.1% |
Future Outlook
Future projections for Gritstone bio, Inc. depend on ongoing clinical trials and funding statuses:
- Funding Needed for 2024: Estimated at $50 million
- Clinical Trials Planned: 3 major trials expected to commence
- Projected Revenue for 2024: $10 million from anticipated product launches
Gritstone bio, Inc. (GRTS) Mission Statement
Company Overview
Gritstone bio, Inc. is a biotechnology company dedicated to developing transformative cancer immunotherapies. Its mission focuses on creating personalized cancer therapies that harness the power of the immune system to fight cancer cells more effectively.
Core Values
- Innovation: Commitment to pioneering novel therapeutic approaches.
- Integrity: Maintaining the highest ethical standards in all operations.
- Collaboration: Partnering with leading research institutions and companies.
- Patient Focus: Prioritizing the needs and outcomes of patients in all endeavors.
Financial Performance
As of the most recent financial disclosures, Gritstone bio reported the following statistics:
| Metric | Value |
|---|---|
| Market Capitalization | $225 million |
| Revenue (2022) | $10 million |
| Net Income (2022) | -$34 million |
| Cash and Cash Equivalents (2023) | $80 million |
| R&D Expenses (2022) | $40 million |
| Clinical Trial Spend (2023) | $15 million |
Strategic Goals
- Enhance Product Pipeline: Focus on advancing the development of personalized vaccines and immunotherapy platforms.
- Expand Partnerships: Seek strategic collaborations to leverage complementary strengths.
- Regulatory Approvals: Aim for key regulatory milestones to facilitate product commercialization.
- Market Access: Develop strategies to ensure access to therapies for diverse patient populations.
Recent Developments
Gritstone bio has made significant strides in their clinical programs, including:
| Development Stage | Product | Indication | Trial Phase |
|---|---|---|---|
| Phase 1 | Granite-001 | Solid Tumors | Ongoing |
| Phase 2 | Granite-002 | NSCLC | Recruiting |
| Phase 3 | Granite-003 | Melanoma | Planned |
Conclusion of Mission Alignment
The mission statement of Gritstone bio underscores its dedication to revolutionizing cancer treatment through innovative and personalized approaches. The company is committed to leveraging its financial and intellectual resources to advance therapies that can significantly impact patient outcomes.
How Gritstone bio, Inc. (GRTS) Works
Company Overview
Gritstone bio, Inc. (GRTS) is a biotechnology company primarily focused on developing cancer immunotherapies and infectious disease vaccines. The company aims to harness the body’s immune response to fight cancerous cells and combat infectious diseases through innovative therapeutic approaches.
Business Model
Gritstone operates on a model that combines proprietary technology and scientific partnerships to develop products. Key elements include:
- Use of its proprietary Gradual Epitope-Driven Immune Response (Gritstone's GRTS technology) to design personalized cancer vaccines.
- Collaboration with pharmaceutical companies for co-development and commercialization.
- Focus on both therapeutic and preventative measures in oncology and infectious diseases.
Research and Development Pipeline
As of October 2023, Gritstone has several clinical programs in varying stages:
| Product | Indication | Clinical Stage | Partnerships |
|---|---|---|---|
| GRT-C901 | Colorectal Cancer | Phase 1 | Collaboration with Merck & Co. |
| GRT-C102 | Pancreatic Cancer | Phase 1 | None |
| GRT-C103 | Non-Small Cell Lung Cancer | Phase 2 | Partnership with Bluebird Bio |
| GRT-C104 | Hepatocellular Carcinoma | Preclinical | None |
| GRT-CV | COVID-19 Vaccine | Phase 2 | Collaboration with CEPI |
Financial Performance
For the fiscal year 2022, Gritstone reported the following financial figures:
| Metric | Amount (in millions) |
|---|---|
| Revenue | $5.8 |
| Net Loss | ($55.3) |
| Cash & Cash Equivalents | $75.0 |
| Total Assets | $90.2 |
| Market Capitalization (as of October 2023) | $250.0 |
Market Position and Competitors
Gritstone operates in a competitive landscape with several companies focused on similar therapies:
- Moderna, Inc. - Known for mRNA-based therapies.
- Pfizer, Inc. - Extensive portfolio in oncology and vaccines.
- AstraZeneca - Key player in cancer treatment and vaccines.
- Novavax - Focused on infectious disease vaccines.
Collaborations and Partnerships
Strategic collaborations are essential to Gritstone's growth. Important partnerships include:
- Merck & Co. for immuno-oncology
- Bluebird Bio in oncology
- CEPI for COVID-19 vaccine development
Future Outlook
Investor expectations and market forecasts for Gritstone remain cautiously optimistic, with several key milestones anticipated in the coming years:
- Completion of ongoing clinical trials.
- Potential partnerships with larger pharmaceutical companies.
- Expansion of the product pipeline into new indications.
Recent Developments
Recent announcements and activities include:
- Secured $25 million in funding through a public offering in September 2023.
- Entered into additional research agreements to enhance vaccine development.
- Presentations at major oncology and immunology conferences to showcase clinical data.
How Gritstone bio, Inc. (GRTS) Makes Money
Overview of Revenue Streams
Gritstone bio, Inc. primarily generates revenue through the development and commercialization of innovative immunotherapies for cancer. Their business model focuses on leveraging proprietary technology platforms that enable the creation of personalized cancer vaccines and T-cell therapies.
Partnerships and Collaborations
Gritstone has established several strategic partnerships with large pharmaceutical companies. Such collaborations often involve upfront payments, milestone payments, and royalties on future sales.
- Collaboration with Merck & Co. for clinical trials of the combination of Gritstone's therapies with Merck's PD-1 inhibitor.
- Collaboration with bluebird bio focusing on the development of cell therapy.
Funding and Investment
The company has raised significant capital through various funding rounds, which are typically used to finance clinical trials and operational expenses.
| Funding Round | Date | Amount Raised (in millions) |
|---|---|---|
| Series A | 2016 | $36 |
| Series B | 2018 | $70 |
| Series C | 2020 | $100 |
Product Pipeline
Gritstone's revenue potential is heavily dependent on the success of its product pipeline, including:
- GRT-C903: Personalized cancer vaccine in clinical trials.
- GRT-C888: T-cell therapy undergoing testing for various solid tumors.
Regulatory Milestones
Successful navigation of regulatory processes can lead to significant financial incentives. Gritstone expects to gain valuable milestone payments from the FDA as their products receive approvals.
Market Potential and Valuation
As of 2023, Gritstone’s market capitalization was approximately $295 million. The global cancer immunotherapy market is projected to reach $126.9 billion by 2026, providing a substantial opportunity for Gritstone's technologies.
Revenue from Grants and Awards
Gritstone also benefits from federal grants and awards that support innovative cancer research. In recent years, they received funding from the National Institutes of Health (NIH) and other organizations to advance their therapeutic development.
| Grant Source | Amount (in millions) | Purpose |
|---|---|---|
| NIH | $5 | Research on personalized vaccines |
| DOD | $3 | Funding for T-cell therapy development |
Potential Risks and Challenges
The company faces several risks that could impact revenue, including:
- Regulatory delays
- Competition from other biotech firms
- Clinical trial failures
Future Outlook
Gritstone aims to expand its commercial reach through strategic partnerships and innovative product development. Continued investment in R&D will be crucial for capturing a share of the growing cancer immunotherapy market.
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