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Adicet Bio, Inc. (ACET)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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Neutralpattern detected
Previous Close12.66
Open12.91
Bid0.00 x 900
Ask0.00 x 800
Day's Range12.22 - 12.91
52 Week Range6.02 - 21.70
Volume28,809
Avg. Volume109,555
Market Cap248.144M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-1.90
Earnings DateNov 05, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est28.25
  • Adicet Bio to Participate in Upcoming Investor Conferences
    GlobeNewswire

    Adicet Bio to Participate in Upcoming Investor Conferences

    MENLO PARK, Calif. and BOSTON, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (Nasdaq: ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in upcoming virtual investor conferences and events in November and December. Details of the events are as follows:H.C. Wainwright 6th Annual Israel Conference Presentation on November 12, 2020 at 9:00 AM ETB. Riley Securities’ Cell Therapy 2.0: Transforming Immune Cells to Mainstream Cancer Treatments at Society for Immunotherapy of Cancer Annual Meeting Panel discussion on November 12, 2020 at 2:00 PM ETStifel 2020 Virtual Healthcare Conference Presentation on November 17, 2020 at 3:20 PM ET3rd Annual Evercore ISI HealthCONx Conference Panel discussion on December 1, 2020 at 1:00 PM ETAdicet management team will also participate in virtual investor meetings at these conferences.Live audio webcasts of the presentations can be accessed on the Investors section of Adicet Bio’s website at https://investor.adicetbio.com. Archived replays will be available for 30 days following each event.About Adicet Bio, Inc.Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of “off-the-shelf” gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.  For more information, please visit our website at http://www.adicetbio.com.Adicet Bio., Inc. Investor and Media Contacts Anne Bowdidge abowdidge@adicetbio.comJanhavi Mohite Stern Investor Relations, Inc. 212-362-1200 janhavi.mohite@sternir.com

  • Adicet Reports Third Quarter 2020 Financial Results and Provides Business Update
    GlobeNewswire

    Adicet Reports Third Quarter 2020 Financial Results and Provides Business Update

    MENLO PARK, Calif. and BOSTON, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (Nasdaq: ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today reported financial results for the third quarter ended September 30, 2020. “We are extremely proud of the milestones we’ve achieved this quarter, including the completion of the merger between Adicet Bio and resTORbio, the clearance of our IND application for ADI-001, and the expansion of our executive team with the appointment of Nick Harvey as CFO and, more recently, Don Healey, Ph.D., as CTO,” said Chen Schor, President and Chief Executive Officer of Adicet. “Looking ahead, we expect to initiate the Phase 1 clinical trial for ADI-001 in the first quarter of 2021 for the treatment of non-Hodgkin’s lymphoma and continue to leverage our γδ T therapy approach to provide a pipeline of highly differentiated product candidates with selective tumor targeting, innate and adaptive anti-tumor immune response, and improved persistence for durable activity.” Third Quarter & Recent Business Updates * IND application cleared by FDA for lead asset, ADI-001, a first-in-class allogeneic CAR gamma-delta T cell therapy. In October 2020, Adicet reported that the U.S. Food and Drug Administration (FDA) accepted the Company’s Investigational New Drug (IND) application for lead asset, ADI-001, an allogeneic gamma delta (γδ) T cell therapy expressing a chimeric antigen receptor (CAR) targeting CD20 for treatment of non-Hodgkin’s lymphoma (NHL). The Company expects to initiate the Phase 1 clinical trial in the first quarter of 2021 to evaluate safety and efficacy of ADI-001 in NHL patients. Site initiation activities are underway and interim clinical data from this study are expected in 2021.   * Built out the management team with the appointment of Nick Harvey as Chief Financial Officer and Don Healey, Ph.D., as Chief Technology Officer. In September 2020, Adicet announced the appointment of Nick Harvey as Chief Financial Officer. Mr. Harvey is responsible for leading the company’s financial strategy and management of activities related to accounting, capital markets and business operations. In October 2020, Dr. Healey joined the management team as Chief Technology Officer, responsible for the development of Adicet’s genetically-modified T cell therapies for clinical development and commercialization, including manufacturing, viral vector operations and analytics. * Successfully completed merger with resTORbio. In September 2020, Adicet Bio completed its merger with resTORbio, Inc. and commenced trading on the Nasdaq Global Market under the ticker symbol “ACET” on September 16, 2020.   * Received $10 million product development milestone payment from Regeneron. In August 2020, Adicet announced that it received a $10 million milestone payment from Regeneron related to ADI-002 meeting key preclinical development goals, in accordance with the terms of its strategic collaboration with Regeneron. ADI-002 is Adicet's allogeneic off-the-shelf γδ T cell product candidate targeting GPC3 for solid tumors associated with high GPC3 expression such as hepatocellular carcinoma, the most prevalent form of liver cancer.Financial Results for Third Quarter of 2020: * Research and Development (R&D) Expenses: R&D expenses increased by $2.6 million to $8.9 million for the quarter ended September 30, 2020, compared to $6.3 million during the same period in 2019. This increase is primarily driven by  an increase of $1.9 million in payroll and personnel expenses due to increases in headcount of employees involved in research and development activities, an increase of $0.9 million in fees incurred for CROs and CMOs costs due to initiating and ramping up manufacturing and preclinical development activities related to our first product candidate, offset by decrease in costs for other consultants by $0.3 million. Payroll and personnel expenses for the quarter ended September 30, 2020 includes $1.0 million of non-cash stock-based compensation expense compared to $0.1 million during the same period in 2019 due to an one-time charge of $0.9 million resulting from the modification of stock awards in connection with the merger. * General and Administrative (G&A) Expenses: G&A expenses increased by $5.9 million to $7.7 million for the quarter ended September 30, 2020, compared to $1.8 million during the same period in 2019. This increase is primarily driven by an increase of $3.2 million of payroll and personnel expenses, an increase of $2.4 million of professional fees for legal, consulting, accounting, tax and other services, and an increase of $0.3 million in facility and other expenses. Payroll and personnel expenses for the quarter ended September 30, 2020 includes $2.0 million of non-cash stock-based compensation expense compared to $0.3 million during the same period in 2019 due to an one-time charge of $1.7 million resulting from the modification of stock awards in connection with the merger. The increase in professional fees was primarily due to transaction costs incurred in connection with the merger with resTORbio of $2.0 million during the quarter ended September 30, 2020. * Net Loss: Net loss attributable to common shareholders for the quarter ended September 30, 2020 was $14.8 million, or a net loss of $2.84 per basic and diluted share, including non-cash stock-based compensation expense of $3.0 million, as compared to $14.8 million during the same period in 2019, or a net loss of $6.87 per basic and diluted share, including non-cash stock-based compensation expense of $0.4 million. * Cash Position: Cash and cash equivalents and marketable debt securities were $108.1 million as of September 30, 2020, compared to $73.0 million as of December 31, 2019.About AdicetAdicet is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of “off-the-shelf” gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.Forward-Looking Statements This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, preclinical and clinical development of Adicet’s product candidates, including future plans or expectations for ADI-001 and ADI-002 and potential therapeutic effects of ADI-001 and ADI-002, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding the design, implementation, timing, and success of its future clinical studies of ADI-001, including whether they are pivotal or would support registration, expectations regarding its other CAR γδ T cell therapy development activities, the impact of individual executive officers on Adicet’s success, and its expectations regarding its uses of capital, expenses, future accumulated deficit and other third quarter 2020 financial results. Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet’s business and financial results, including with respect to disruptions to its clinical trials, business operations, and ability to raise additional capital; Adicet’s ability to execute on its strategy; that positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; future clinical studies may fail to demonstrate adequate safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization; regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time‑consuming, and inherently unpredictable; regulatory developments in the United States and foreign countries; Adicet’s estimates regarding expenses, future revenue, and capital requirements; as well as those risks and uncertainties set forth in Adicet’s most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.  For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Adicet’s most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet’s other filings with the SEC.  All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law. ADICET BIO, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited)  Three Months Ended September 30,  Nine Months Ended September 30,    2020  2019  2020  2019  Revenue—related party $3,028  $(7,047) $12,493  $(974) Operating expenses:                 Research and development  8,942  $6,331  $24,651  $17,168  General and administrative  7,741   1,847   17,684   6,069  Total operating expenses  16,683   8,178   42,335   23,237  Loss from operations  (13,655)  (15,225)  (29,842)  (24,211) Interest income  153   276   704   561  Interest expense  (50)  —   (84)  —  Other income (expense), net  (1,224)  171   (1,174)  2,091  Loss before income taxes  (14,776)  (14,778)  (30,396)  (21,559) Income tax expense (benefit)  3   —   (2,676)  1  Net loss $(14,779) $(14,778) $(27,720) $(21,560) Net loss per share —basic and diluted $(2.84) $(6.87) $(8.69) $(10.10) Weighted-average number of common shares used in net loss per share —basic and diluted  5,208,887   2,149,986   3,190,557   2,133,645  ADICET BIO, INC. Balance Sheet Data (in thousands) (unaudited)  September 30,  December 31,    2020  2019  Cash, cash equivalents and marketable debt securities $108,120  $72,988  Working capital  87,334   49,321  Total assets  150,397   81,587  Contract liabilities—related party  19,390   21,883  Accumulated deficit  (97,367)  (69,647) Total stockholders' equity (deficit)  116,930   (60,366) Adicet Bio, Inc. Investor and Media Contacts Anne Bowdidge abowdidge@adicetbio.comJanhavi Mohite Stern Investor Relations, Inc. 212-362-1200 janhavi.mohite@sternir.com

  • Adicet Appoints Don Healey, Ph.D., as Chief Technology Officer
    GlobeNewswire

    Adicet Appoints Don Healey, Ph.D., as Chief Technology Officer

    MENLO PARK, Calif. and BOSTON, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (Nasdaq: ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the appointment of Don Healey, Ph.D., as Chief Technology Officer. Dr. Healey will lead the development of Adicet’s genetically-modified T cell therapies for clinical development and commercialization, including manufacturing, viral vector operations and analytics. “We are excited to welcome Don as a new member of Adicet’s Executive Leadership Team,” said Chen Schor, President and Chief Executive Officer of Adicet. “Don’s expertise in guiding the production and release of cell therapy products, as well as his deep knowledge of the scientific, technical, and strategic approaches to genetically modifying, characterizing and scaling the production of such cell products is a valuable addition to the growth of Adicet as we continue to advance our pipeline of 'off-the-shelf' gamma delta T cell product candidates.”“I am honored to join the Adicet team, and look forward to helping guide the development of ADI-001 through the next stages of development and registration,” said Dr. Healey. “I am very excited by the potential of Adicet’s gamma delta T cell platform and its novel targeting approaches. Adicet’s platforms and product candidates are highly differentiated and may provide oncology patients with selective tumor targeting, innate and adaptive anti-tumor immune response, and improved persistence for durable activity.”Dr. Healey has nearly two decades of experience in cell therapy development and manufacturing. Dr. Healey joins Adicet most recently from KBI Biopharma Inc., a biopharmaceutical contract services organization, where he was responsible for establishing process development, manufacturing, quality control and facilities management for biopharmaceutical clients developing cellular therapies. Previously, he served as Chief Scientific Officer at Opexa Therapeutics, Inc., where he was responsible for all pre-clinical scientific development, closed-system process design and the scaling of Opexa's autologous T-cell immunotherapy. Dr. Healey has also served as Director of Immunology at Argos Therapeutics Inc. and Group leader for Immunology at ML Laboratories, UK, (formerly Cobra Biotherapeutics). Dr. Healey received his Ph.D. from University of London, and holds a B.Sc. in Cellular Pathology from Bristol University.About AdicetAdicet is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of “off-the-shelf” gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.  For more information, please visit our website at http://www.adicetbio.com.Forward-Looking Statements This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, preclinical and clinical development of Adicet’s product candidates, including future plans or expectations for ADI-001 and potential therapeutic effects of ADI-001. Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet’s business and financial results, including with respect to disruptions to our clinical trials, business operations, employee hiring and retention, and ability to raise additional capital; Adicet’s ability to execute on its strategy; Adicet’s ability to meet production and product release expectations; as well as those risks and uncertainties set forth in the company’s most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.   For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Adicet’s most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet’s other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.Investor and Media Contacts Anne Bowdidge abowdidge@adicetbio.comJanhavi Mohite Stern Investor Relations, Inc. 212-362-1200 janhavi.mohite@sternir.com