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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.

Rhea-AI Summary

Adicet Bio (Nasdaq: ACET) has announced that the FDA granted Fast Track Designation to its lead program ADI-001, targeting CD20 for treating relapsed or refractory B-cell Non-Hodgkin’s lymphoma. This investigational therapy is currently in a Phase 1 study assessing its safety and tolerability. The Fast Track status accelerates its development, addressing an unmet need in adult NHL. CEO Chen Schor expressed optimism about ADI-001’s unique approach and anticipates further data release from the trial in early 2022.

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Adicet Bio, Inc. (NASDAQ: ACET), a clinical-stage biotechnology firm, is advancing allogeneic gamma delta CAR T cell therapies for cancer. The company will participate in two investor conferences in April 2022. On April 14, CEO Chen Schor will join a panel at the Canaccord Genuity 2022 Horizons in Oncology Virtual Conference. Additionally, Adicet's management will conduct 1x1 meetings at the Jefferies Biotech on the Bay Summit in Miami, Florida on April 27, 2022. These events showcase Adicet's commitment to innovative cancer therapy development.

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Adicet Bio, Inc. (NASDAQ: ACET) announced the granting of inducement awards on March 31, 2022, to two new employees as part of its 2022 Inducement Plan. The awards consist of non-qualified stock options to purchase a total of 36,000 shares at an exercise price of $19.97 per share, which reflects the closing price on the Grant Date. The options will vest progressively over four years, subject to continued employment. This plan was approved by an independent compensation committee in compliance with Nasdaq Listing Rule 5635(c)(4).

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Adicet Bio, Inc. (ACET) reported positive interim findings in its Phase 1 study of ADI-001 for non-Hodgkin’s lymphoma, with complete responses observed at low dose levels. The company raised $94.2 million in net proceeds through a recent public offering, bolstering its financial position with $277.5 million in cash as of December 31, 2021. Despite a net loss of $62 million for 2021, which increased from $36.7 million in 2020, the company remains on track for key milestones in 2022, including additional clinical data expected soon.

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Adicet Bio, Inc. (Nasdaq: ACET) announced the granting of inducement awards on February 28, 2022, to three new employees as part of its 2022 Inducement Plan. The awards include non-qualified stock options to purchase 87,800 shares at an exercise price of $13.08, based on the stock's closing price on the grant date. Options will vest over four years, contingent on continued employment. These awards fall outside stockholder-approved equity plans and were approved by the compensation committee in compliance with Nasdaq Listing Rule 5635(c)(4).

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Adicet Bio, Inc. (NASDAQ: ACET) announced that CEO Chen Schor will participate in a virtual fireside chat at the Guggenheim 2022 Oncology Conference on February 9, 2022, at 11:30 am ET. Investors can access the live audio webcast through the company's website, with an archived replay available for 30 days post-event. Adicet Bio is focused on developing allogeneic gamma delta CAR T cell therapies targeting cancer and other diseases, emphasizing durable anti-tumor immune responses.

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Adicet Bio, Inc. (Nasdaq: ACET) announced the closing of its underwritten public offering of 7,187,500 shares of common stock, which includes the full exercise of an option for an additional 937,500 shares. The offering price was set at $14.00 per share, netting approximately $100.6 million in gross proceeds before expenses. This offering was facilitated under a previously effective shelf registration with the SEC. Jefferies and Guggenheim Securities served as joint book-running managers.

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Adicet Bio, Inc. (Nasdaq: ACET) has announced a public offering of 6,250,000 shares of common stock priced at $14.00 per share, aiming for gross proceeds of approximately $87.5 million. The company has granted underwriters a 30-day option to purchase an additional 937,500 shares. The offering is set to close around December 10, 2021, pending customary closing conditions. This offering is conducted under a previously effective shelf registration statement with the SEC.

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Adicet Bio, Inc. (Nasdaq: ACET) has announced an underwritten public offering of its common stock, granting underwriters a 30-day option for an additional 15% of shares sold at the public offering price. The offering is contingent on market conditions. Shares will be sold under a shelf registration statement effective since March 30, 2021. Jefferies LLC and Guggenheim Securities, LLC are acting as joint book-running managers. This press release does not constitute an offer to sell or a solicitation for the purchase of securities.

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Adicet Bio announced promising interim results from its Phase 1 study of ADI-001, a gamma delta CAR T cell therapy targeting B-cell Non-Hodgkin's Lymphoma. As of November 22, 2021, six patients received ADI-001, with an overall response rate (ORR) of 75% and a complete response (CR) rate of 50%. Notably, no serious adverse events were reported. The findings support the therapy's safety and potential effectiveness, highlighting its ability to offer an off-the-shelf treatment option. Further data is anticipated in the first half of 2022, showcasing the ongoing progress of Adicet's innovative platform.

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FAQ

What is the current stock price of Adicet Bio (ACET)?

The current stock price of Adicet Bio (ACET) is $0.8937 as of December 23, 2024.

What is the market cap of Adicet Bio (ACET)?

The market cap of Adicet Bio (ACET) is approximately 70.9M.

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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70.86M
69.64M
1.59%
76.44%
4.16%
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