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Adicet Bio, Inc. - ACET STOCK NEWS

Welcome to our dedicated page for Adicet Bio news (Ticker: ACET), a resource for investors and traders seeking the latest updates and insights on Adicet Bio stock.

Adicet Bio, Inc. (Nasdaq: ACET) is a clinical-stage biotechnology company engaged in the discovery and development of novel allogeneic gamma delta T cell therapies for the treatment of autoimmune diseases and cancer. Leveraging advanced immunotherapy techniques, Adicet Bio is pioneering the use of gamma delta T cells engineered with chimeric antigen receptors (CARs) and T cell receptors (TCRs) to create 'off-the-shelf' therapies aimed at providing durable and effective treatments for patients.

Core Products and Pipeline:

  • ADI-001: A first-in-class allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, currently in a Phase 1 clinical trial for relapsed or refractory aggressive B cell non-Hodgkin's lymphoma and autoimmune diseases such as lupus nephritis.
  • ADI-270: An armored gamma delta CAR T cell product candidate targeting CD70, in preclinical development for renal cell carcinoma and other CD70+ solid and hematological malignancies.

Recent Achievements and Collaborations:

  • FDA clearance of the Investigational New Drug (IND) application for ADI-001 in lupus nephritis and initiation of Phase 1 clinical trial expected in 2Q 2024.
  • Strategic collaboration with Regeneron Pharmaceuticals, Inc. to develop next-generation engineered immune-cell therapeutics.
  • Successful Series A financing round, raising $51 million led by Orbimed Partners, Orbimed Israel, and Novartis Ventures.
  • Inducement awards granted to new employees as material inducements for employment, signifying ongoing growth and talent acquisition within the company.
  • Presentation of promising preclinical data on ADI-270 at major scientific annual meetings, indicating robust anti-tumor activity and potential clinical benefits.

Financial Overview: Adicet Bio maintains a strong cash position with $247.6 million in cash and cash equivalents as of March 31, 2024, providing sufficient funding to support operations into the second half of 2026. The company continues to strategically invest in research and development, as well as in expanding its organizational capabilities.

Adicet Bio is at the forefront of innovation in the biotechnology space, striving to bring transformative therapies to patients with unmet medical needs. For more information, please visit Adicet Bio's official website.

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Adicet Bio (Nasdaq: ACET) has received FDA Fast Track Designation for its gamma delta T cell therapy, ADI-270, aimed at treating metastatic/advanced clear cell renal cell carcinoma (ccRCC). This designation intends to accelerate the development and review of ADI-270, which targets patients previously treated with an immune checkpoint inhibitor and a vascular endothelial growth factor inhibitor. CEO Chen Schor highlighted the significance of this milestone in addressing the most common form of kidney cancer and reaffirmed the company's commitment to rapid advancements in innovative treatments.

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Adicet Bio announced inducement grants under Nasdaq Listing Rule 5635(c)(4) on June 28, 2024. The biotechnology company, focusing on allogeneic gamma delta T cell therapies for autoimmune diseases and cancer, granted stock options to two newly hired employees. These options, totaling 46,800 shares at an exercise price of $1.21 per share, will vest over four years, with one-fourth vesting after one year and the remainder vesting in equal monthly installments over the next three years. The awards, granted outside the company's stockholder-approved equity plans, were authorized by the compensation committee as a material inducement for the new hires.

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Adicet Bio (Nasdaq: ACET) has announced FDA clearance for its IND application for ADI-270, a gamma delta CAR T cell therapy targeting CD70+ cancers, specifically for relapsed/refractory renal cell carcinoma (RCC).

ADI-270 is the first gamma delta 1 CAR T cell therapy to enter clinical development for solid tumors. A Phase 1 clinical trial to evaluate its safety and anti-tumor activity is set to begin in the second half of 2024, with preliminary data expected in the first half of 2025.

The trial will be a multicenter, open-label study focusing on adults with relapsed/refractory clear cell RCC. Participants will receive a single dose of ADI-270 following lymphodepletion, with potential second doses based on meeting specific criteria. The trial aims to assess safety, tolerability, pharmacokinetics, and anti-tumor activity, including overall response rate and disease control rate.

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Adicet Bio (Nasdaq: ACET), a clinical-stage biotech firm, has received FDA Fast Track Designation for its ADI-001 therapy aimed at treating relapsed/refractory class III or IV lupus nephritis. The designation highlights the urgent need for new treatments for this chronic disease. Adicet Bio plans to initiate a Phase 1 clinical study for lupus nephritis this month. Previous clinical data for ADI-001 in non-Hodgkin’s lymphoma showed promising CD19+ B-cell depletion, comparable to results seen in autologous alpha-beta CAR T treatments in various autoimmune diseases. The company is optimistic about expanding its autoimmune program and will soon provide investors with an update.

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Adicet Bio, a clinical-stage biotechnology company, announced inducement grants under Nasdaq Listing Rule 5635(c)(4) on May 31, 2024. The company hired two new employees in May 2024 and granted them non-qualified stock options to purchase a total of 44,800 shares of common stock at $1.45 per share. The stock options will vest over four years, with one-fourth vesting after one year and the remaining three-fourths vesting in equal monthly installments over the next three years. These awards were granted outside the company’s stockholder-approved equity incentive plans under the 2022 Inducement Plan, authorized by the compensation committee comprised of independent directors.

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Adicet Bio (Nasdaq: ACET), a clinical-stage biotech firm, announced that its CEO, Chen Schor, will participate in a fireside chat at the Jefferies Healthcare Conference in New York. The event is scheduled for June 5, 2024, at 1:00 p.m. ET. Adicet specializes in allogeneic gamma delta T cell therapies targeting autoimmune diseases and cancer. The live audio webcast and a 30-day archived replay will be accessible on Adicet Bio's website.

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Adicet Bio (Nasdaq: ACET) has reported its Q1 2024 financial results and key business updates. The company is set to initiate a Phase 1 clinical trial for ADI-001 in lupus nephritis in Q2 2024, following FDA clearance. Preliminary data is expected by late 2024 or early 2025. Adicet also presented promising preclinical data on ADI-270 at the ASGCT annual meeting, with plans to file an IND for ADI-270 in renal cell carcinoma in Q2 2024. Financially, the company has a robust balance sheet with $247.6 million in cash and equivalents, projecting fund sufficiency until the second half of 2026. R&D expenses decreased to $23.9 million from $26.8 million YoY, while G&A expenses increased slightly to $7.0 million from $6.6 million YoY. Net loss for Q1 2024 was $28.0 million, or $0.35 per share, an improvement from $30.9 million, or $0.72 per share, in Q1 2023.

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Adicet Bio (Nasdaq: ACET), a clinical-stage biotech firm specializing in gamma delta T cell therapies for autoimmune diseases and cancer, will present preclinical data on ADI-270 at the 2024 European Hematology Association (EHA) Hybrid Congress. The event, held in Madrid, Spain from June 13-16, 2024, will feature Yvan Chanthery, Ph.D., presenting on June 14 at 18:00 CEST. ADI-270 is an armored allogeneic anti-CD70 CAR γδ T cell therapy aimed at multiple solid and hematological cancers.

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Adicet Bio, Inc. (Nasdaq: ACET) will participate in a fireside chat at the 2024 Citizens JMP Life Sciences Conference in New York. Chen Schor, President and CEO, will present on May 14, 2024, at 1:30 p.m. ET. The presentation can be accessed on the Investors section of Adicet Bio's website.

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Adicet Bio, Inc. (Nasdaq: ACET) granted an inducement award on April 30, 2024, to a new employee. The award consists of non-qualified stock options to purchase 7,800 shares at $1.49 per share. Vesting occurs over four years, with one-fourth vesting after one year and the rest in monthly installments. The award was granted outside Adicet's equity plans under the Inducement Plan.

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FAQ

What is Adicet Bio, Inc.?

Adicet Bio, Inc. is a clinical-stage biotechnology company focused on developing allogeneic gamma delta T cell therapies for the treatment of autoimmune diseases and cancer.

What are the key products in Adicet Bio's pipeline?

The key products include ADI-001, a CAR T cell therapy targeting CD20 for autoimmune diseases and aggressive B cell non-Hodgkin's lymphoma, and ADI-270, an armored CAR T cell candidate targeting CD70 for renal cell carcinoma.

What recent achievements has Adicet Bio made?

Recent achievements include FDA clearance for ADI-001 in lupus nephritis, successful strategic collaborations, significant financing rounds, and promising preclinical data presentations.

How is Adicet Bio financially positioned?

Adicet Bio has a strong cash position with $247.6 million in cash and equivalents as of March 31, 2024, funding operations into the second half of 2026.

What strategic collaborations has Adicet Bio entered into?

Adicet Bio has a strategic collaboration with Regeneron Pharmaceuticals to develop engineered immune-cell therapeutics using its gamma delta T cell allogeneic platform technology.

What is the focus of Adicet Bio's research and development?

Adicet Bio's R&D focuses on creating 'off-the-shelf' gamma delta T cell therapies engineered with CARs and TCRs for cancer and autoimmune diseases.

What are ADI-001 and ADI-270?

ADI-001 is a gamma delta T cell therapy targeting CD20 for non-Hodgkin's lymphoma and autoimmune diseases, while ADI-270 targets CD70 for renal cell carcinoma and other CD70+ cancers.

What makes Adicet Bio's approach unique?

Adicet Bio utilizes gamma delta T cells with CAR and TCR engineering, providing off-the-shelf, allogeneic therapies that offer durable and effective treatments for patients.

What is the significance of the FDA's fast track designation for ADI-001?

The fast track designation for ADI-001 by the FDA facilitates the development and expedites the review process for this promising therapy targeting lupus nephritis.

Where can I find more information about Adicet Bio?

For more information, visit Adicet Bio's official website at https://www.adicetbio.com.

Adicet Bio, Inc.

Nasdaq:ACET

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