A symmetrical triangle pattern has formed in the chart of Autolus Therapeutics PLC (NASDAQ:AUTL). The stock is expected to either break through its resistance line or fall through its support level. Read more to learn how to be ready for a potential breakout or breakdown.Autolus Therapeutics PLC (AUTL) is a biopharmaceutical company developing next-generation programmed T cell therapies for the treatment of cancer. The company's clinical-stage pipeline comprises five programs: AUTO1, AUTO1/22, AUTO3, AUTO4 and AUTO6.
The company recently announced a new deal with Moderna (NASDAQ:MRNA), in which MRNA could use some of AUTL’s proprietary binders in new cancer therapies. AUTL also recently announced that its experimental CD19 cell therapy, AUTO1, achieved 100% remission in patients with relapsed indolent non-Hodgkin lymphoma in an early-stage study.
As of the most recent quarter, the company had $216 million in cash, compared to only $19 million in long-term debt. Over the past three years, sales have grown an average of 31.8% per year. However, sales are expected to fall 16.7% year over year in the current quarter.