Adicet Bio Inc Stock Price, News & Analysis

Adicet Bio (Nasdaq: ACET), a clinical-stage biotech company developing allogeneic gamma delta T cell therapies, has appointed Lloyd Klickstein, M.D., Ph.D. to its Board of Directors. Dr. Klickstein brings over two decades of leadership experience in biopharma and biomedical research, currently serving as CEO of Koslapp Therapeutics. His expertise in rheumatology, immunology, and drug development, along with his previous role as Chief Innovation Officer at Adicet, is expected to be valuable as the company advances its autoimmune programs and pipeline of gamma delta CAR T therapies. Dr. Klickstein's background includes co-founding Versanis Bio, leadership positions at Novartis, and academic roles at Brigham and Women's Hospital.

Adicet Bio (Nasdaq: ACET) reported Q2 2024 financial results and business updates. Key highlights include:

1. Expansion of ADI-001 clinical development to include SLE, SSc, and AAV, in addition to lupus nephritis.

2. FDA clearance for ADI-270 IND for relapsed/refractory renal cell carcinoma treatment.

3. Fast Track Designation granted for two product candidates.

4. Strong balance sheet with $224.1 million in cash as of June 30, 2024.

5. Net loss of $29.9 million ($0.33 per share) for Q2 2024.

6. R&D expenses decreased to $25.9 million, while G&A expenses increased slightly to $6.9 million.

7. Cash runway expected into the second half of 2026.

Adicet Bio (Nasdaq: ACET), a clinical stage biotechnology company focused on allogeneic gamma delta T cell therapies for autoimmune diseases and cancer, has announced its participation in two upcoming investor conferences in August 2024:

1. BTIG Virtual Biotechnology Conference (August 5-6): Adicet Bio will be available for one-on-one meetings.

2. Canaccord Genuity Global Growth Conference (August 13-14, Boston, MA): Chen Schor, President and CEO, will participate in a fireside chat on August 13 at 10:30am ET. A live audio webcast will be available on Adicet Bio's website, with a 30-day replay option.

These conferences provide opportunities for investors to gain insights into Adicet Bio's innovative therapies and future prospects.

Adicet Bio (Nasdaq: ACET), a clinical stage biotechnology company focused on allogeneic gamma delta T cell therapies, has granted inducement awards to four new employees hired in July 2024. The awards include non-qualified stock options to purchase a total of 70,400 shares of Adicet's common stock at an exercise price of $1.51 per share.

The options will vest over a four-year period, with 25% vesting on the one-year anniversary of each recipient's start date, followed by monthly installments over the next three years. These awards were granted outside of Adicet's stockholder-approved equity incentive plans, using the company's 2022 Inducement Plan, as authorized by the compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4).

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.

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.

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.

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.

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.