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.
Adicet Bio (NASDAQ: ACET), a clinical-stage biotechnology company specializing in allogeneic gamma delta T cell therapies for cancer, announced its participation in the Canaccord Genuity Horizons in Oncology Virtual Conference on April 20, 2023. Chen Schor, President and CEO, will be featured in a panel titled "Off-the-Shelf CART – Current Snapshot" at 11:00 a.m. ET. Attendees can arrange one-on-one meetings with the Adicet team through their sales representatives at Canaccord Genuity. Adicet is advancing a pipeline of engineered gamma delta T cells designed for enhanced tumor targeting and effective immune responses against cancer. For more details, visit Adicet Bio's website.
Adicet Bio, Inc. (NASDAQ: ACET), a biotechnology company specializing in allogeneic gamma delta T cell therapies for cancer, announced on March 31, 2023, that it granted new hires stock options to purchase 237,400 shares at an exercise price of $5.76 each. This award was given to ten individuals hired in March 2023 and vests over four years, contingent upon continued employment. The awards were issued in accordance with the 2022 Inducement Plan, which was approved by the board of directors. This strategy aligns with Nasdaq rules aimed at incentivizing employee recruitment.
Adicet Bio, Inc. (Nasdaq: ACET) has reported interim safety and efficacy data for ADI-001, showing a 75% overall response rate and a 69% complete response rate in a Phase 1 study for relapsed or refractory B-cell non-Hodgkin’s lymphoma (NHL). The company is set to provide further data in Q2 2023 and plans to discuss potential pivotal study designs with the FDA. Financially, while R&D expenses for Q4 2022 rose to $25 million, leading to a net loss of $29.9 million, cash reserves stood at $257.7 million, sufficient to fund operations into 2025. New preclinical data and in-house manufacturing capabilities were also highlighted.
Adicet Bio, a clinical stage biotechnology company focused on allogeneic gamma delta T cell therapies for cancer, announced participation in the 2023 Jefferies Biotech on the Bay Summit from March 16-17, 2023. Representing the company will be Chen Schor, President and CEO, and Nick Harvey, CFO. Adicet Bio aims to enhance tumor targeting and anti-tumor immune response with its engineered gamma delta T cells. The team will hold one-on-one meetings at the conference, providing opportunities for deeper engagement with investors and partners. For more information, visit Adicet's website.
Adicet Bio, Inc. (NASDAQ: ACET) announced the granting of inducement awards on February 28, 2023, to four employees hired in February 2023. These awards consist of non-qualified stock options totaling 105,400 shares at an exercise price of $7.88 per share, equal to the stock’s closing price on the grant date. Vesting is structured with 25% after one year and the remaining shares vesting in 36 equal monthly installments, dependent on continued employment. The awards were made under the company’s 2022 Inducement Plan, authorized by the board's independent compensation committee, in compliance with Nasdaq rules.
Adicet Bio, Inc. (Nasdaq: ACET) is set to have its President and CEO, Chen Schor, participate in a fireside chat at the 2023 Guggenheim Oncology Conference on February 9, 2023, at 2:10 p.m. ET. This conference focuses on the development of allogeneic gamma delta T cell therapies for cancer, which are engineered to enhance tumor targeting and boost immune responses. Investors can access the live audio webcast on Adicet's website, with an archived replay available for 30 days post-event. For further details on Adicet's innovative therapies, visit Adicet Bio's website.
Adicet Bio, Inc. (NASDAQ: ACET) announced on January 31, 2023, that it granted inducement awards to six new employees, comprising non-qualified stock options for 72,800 shares at an exercise price of $9.15. These options will vest over four years, with one-fourth vesting on the one-year anniversary of each employee's start date and the remainder vesting in thirty-six equal monthly installments. This award was granted pursuant to the 2022 Inducement Plan, amended in January 2023, endorsed by the independent compensation committee to attract talent in compliance with Nasdaq Listing Rule 5635(c)(4).
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