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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 grants inducement awards to new hires, offering stock options to purchase 34,800 shares of common stock at $5.48 per share. Vesting occurs over time, with full vesting on the fourth anniversary of each employee's start date, subject to continued employment.
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Adicet Bio presents preclinical data on ADI-270, an armored allogeneic gamma delta CAR T cell therapy candidate targeting CD70+ cancers
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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.

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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.

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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.

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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.

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FAQ

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

The current stock price of Adicet Bio (ACET) is $0.91 as of December 20, 2024.

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

The market cap of Adicet Bio (ACET) is approximately 72.3M.

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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72.29M
69.64M
1.59%
76.44%
4.16%
Biotechnology
Pharmaceutical Preparations
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