Century Therapeutics, Inc.
IPSC · Biological Products, (No Diagnostic Substances) · 180.4M shares · +80%/yr ↑ dilution · EDGAR filings ↗
Reference price $2.23 · est. market cap ~$403M — last insider sale, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D53Pre-commercial allogeneic cell-therapy biotech, deeply unprofitable but recently funded into 2029.
Strengths
- January 2026 private placement (~$126.7M net) extends runway into Q1 2029, easing near-term funding risk
- Strong current ratio (5.97) and broad iPSC platform/IP estate
Risks
- Heavy cash burn (FCF -$105M) with no approved products; CNTY-101 only at early Phase 1/2 IST data
- Trailing cash runway just 4.5 quarters (35th pct) before the raise; large dilution from the placement
- Negative returns (ROE -6%, ROA -4.3%) and ongoing operating losses
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -8.8%)
- Cash burnNegative free cash flow (-104.7M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +80%/yr over 4y (dilution, book value/share -96%)
- New fund positionNotable fund(s) opened this quarter: GOLDMAN SACHS GROUP INC
- Insider sellingInsider selling — 10 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 8→9 QoQ (2025-12-31→2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-15.8%
Net margin
-8.8%
Return on equity
-6.0%
Return on assets
-4.3%
Current ratio
6.0×
Free cash flow
-$105M
Tangible book value
$125M
Cash & investments
$117M
Cash runway
4q
Stock comp / revenue
6.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Carr Douglas | Sell | 1.7K | $2.23 |
| 2026-06-12 | Russotti Gregory | Sell | 2.6K | $2.23 |
| 2026-06-11 | Cowan Chad | Tax withheld | 358 | $2.24 |
| 2026-06-11 | Pfeiffenberger Brent | Tax withheld | 14K | $2.24 |
| 2026-06-08 | Carr Douglas | Sell | 249 | $2.11 |
| 2026-06-08 | Russotti Gregory | Sell | 524 | $2.11 |
| 2026-06-05 | Pfeiffenberger Brent | Tax withheld | 463 | $2.13 |
| 2026-05-15 | Pfeiffenberger Brent | Tax withheld | 31K | $2.34 |
| 2026-05-04 | Carr Douglas | Sell | 264 | $2.34 |
| 2026-04-01 | Cowan Chad | Tax withheld | 1.4K | $2.19 |
| 2026-03-12 | Russotti Gregory | Sell | 10K | $2.55 |
| 2026-03-12 | Carr Douglas | Sell | 7.0K | $2.55 |
| 2026-03-11 | Cowan Chad | Tax withheld | 1.4K | $2.73 |
| 2026-03-11 | Pfeiffenberger Brent | Tax withheld | 55K | $2.73 |
| 2026-03-09 | Russotti Gregory | Sell | 479 | $2.54 |
| 2026-03-09 | Carr Douglas | Sell | 247 | $2.54 |
| 2026-03-06 | Pfeiffenberger Brent | Tax withheld | 463 | $2.56 |
| 2026-02-13 | Pfeiffenberger Brent | Tax withheld | 31K | $1.75 |
| 2026-02-03 | Carr Douglas | Sell | 323 | $1.82 |
| 2026-02-02 | Cowan Chad | Grant | 135K | — |
| 2026-02-02 | Pfeiffenberger Brent | Grant | 475K | — |
| 2026-02-02 | Russotti Gregory | Grant | 135K | — |
| 2026-02-02 | Carr Douglas | Grant | 110K | — |
| 2026-01-02 | Cowan Chad | Tax withheld | 1.6K | $0.99 |
| 2025-12-22 | Cowan Chad | Buy | 58K | $0.85 |
| 2025-12-12 | Pfeiffenberger Brent | Buy | 52K | $0.58 |
| 2025-12-10 | Pfeiffenberger Brent | Tax withheld | 463 | $0.53 |
| 2025-12-08 | Russotti Gregory | Sell | 526 | $0.53 |
| 2025-12-08 | Carr Douglas | Sell | 257 | $0.53 |
| 2025-11-20 | Cowan Chad | Sell | 5.5K | $0.50 |
| 2025-11-19 | Pfeiffenberger Brent | Buy | 35K | $0.50 |
| 2025-11-17 | Pfeiffenberger Brent | Sell | 32K | $0.45 |
| 2025-11-03 | Carr Douglas | Sell | 292 | $0.59 |
| 2025-09-18 | Cowan Chad | Grant | 763K | — |
| 2025-09-08 | Carr Douglas | Sell | 263 | $0.50 |
| 2025-09-08 | Pfeiffenberger Brent | Sell | 488 | $0.50 |
| 2025-09-08 | Russotti Gregory | Sell | 539 | $0.50 |
| 2025-08-14 | Pfeiffenberger Brent | Grant | 1.6M | — |
| 2025-08-04 | Carr Douglas | Sell | 296 | $0.53 |
| 2025-06-09 | Carr Douglas | Sell | 4.9K | $0.62 |
| 2025-06-09 | Farid Adrienne | Sell | 552 | $0.62 |
| 2025-06-09 | Pfeiffenberger Brent | Sell | 475 | $0.62 |
| 2025-06-09 | Russotti Gregory | Sell | 526 | $0.62 |
| 2025-05-16 | Pfeiffenberger Brent | Sell | 30K | $0.55 |
| 2025-05-05 | Farid Adrienne | Sell | 1.0K | $0.55 |
| 2025-05-05 | Carr Douglas | Sell | 295 | $0.55 |
| 2025-03-11 | Conn Morgan | Grant | 20K | — |
| 2025-03-11 | Farid Adrienne | Grant | 120K | — |
| 2025-03-11 | Pfeiffenberger Brent | Grant | 522K | — |
| 2025-03-11 | Carr Douglas | Grant | 96K | — |
| 2025-03-11 | Cowan Chad | Grant | 20K | — |
| 2025-03-11 | Russotti Gregory | Grant | 120K | — |
| 2025-03-10 | Farid Adrienne | Sell | 2.4K | $0.61 |
| 2025-03-10 | Pfeiffenberger Brent | Sell | 2.2K | $0.61 |
| 2025-03-10 | Russotti Gregory | Sell | 2.4K | $0.61 |
| 2025-03-10 | Carr Douglas | Sell | 1.2K | $0.61 |
| 2025-02-18 | Pfeiffenberger Brent | Sell | 35K | $0.78 |
| 2025-02-03 | Farid Adrienne | Sell | 1.1K | $0.78 |
| 2025-02-03 | Carr Douglas | Sell | 351 | $0.78 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05768269 ↗ | A Study for Participants Previously Treated With Century Therapeutics Cellular Therapy Product Hematological Malignancy, Solid Tumor Malignancy | — | Recruiting | 2040-03-01 |
| NCT06255028 ↗ | A Study of CNTY-101 in Participants With Refractory B Cell-mediated Autoimmune Diseases Systemic Lupus Erythematosus, Lupus Nephritis | PHASE1 | Active Not Recruiting | 2028-08-01 |
| NCT05336409 ↗ | A Study of CNTY-101 in Participants With CD19-Positive B-Cell Malignancies R/R CD19-Positive B-Cell Malignancies, Indolent Non-Hodgkin Lymphoma | PHASE1 | Terminated | 2025-07-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-16 | 2026-06-15 | 0001104659-26-074577 ↗ |
| 8-K | 2026-06-12 | 2026-06-11 | 0001104659-26-073429 ↗ |
| 8-K | 2026-06-08 | 2026-06-08 | 0001104659-26-071383 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001104659-26-059816 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001104659-26-059824 ↗ |
| 8-K | 2026-03-26 | 2026-03-26 | 0001104659-26-035256 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001104659-26-026761 ↗ |
| 10-K | 2026-03-12 | 2025-12-31 | 0001104659-26-026759 ↗ |
| 8-K | 2026-01-23 | 2026-01-22 | 0001104659-26-006236 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001104659-26-002748 ↗ |
| 8-K | 2026-01-08 | 2026-01-07 | 0001104659-26-001952 ↗ |
| 8-K | 2025-12-29 | 2025-12-18 | 0001104659-25-124836 ↗ |