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Mar 31, 2020
Adicet Bio Q1 2020 Earnings Report
resTORbio reported financial results for the first quarter ended March 31, 2020 and provided a corporate update.
Key Takeaways
resTORbio reported a net loss of $7.0 million, or $0.19 per share, for the first quarter ended March 31, 2020. The company's cash, cash equivalents, and marketable securities totaled $76.3 million as of March 31, 2020. A merger agreement with Adicet Bio was announced to advance allogeneic gamma delta CAR-T cell therapy.
Entered into a definitive merger agreement with Adicet Bio, Inc. to advance allogeneic gamma delta CAR-T cell therapy.
Terminated the fifth cohort in Phase 1b/2a Trial of RTB101 in Parkinson’s disease due to COVID-19 level 4 alert in New Zealand.
R&D expenses were $4.8 million for the three months ended March 31, 2020, compared to $8.9 million for the three months ended March 31, 2019.
Cash, cash equivalents and marketable securities were $76.3 million as of March 31, 2020 compared to $91.5 million as of December 31, 2019.
Adicet Bio
Adicet Bio
Forward Guidance
This press release contains forward-looking statements regarding the proposed merger agreement with Adicet, future product development plans, the combined company’s future financial performance, and the potential impact of COVID-19 on strategy.