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Mar 31, 2023
Adicet Bio Q1 2023 Earnings Report
Reported financial results and operational highlights for the first quarter ended March 31, 2023.
Key Takeaways
Adicet Bio reported a net loss of $30.9 million for the first quarter of 2023, with cash and cash equivalents totaling $231.6 million as of March 31, 2023. The company is on track to report additional data and provide a regulatory update for ADI-001 in the second quarter of 2023 and plans to initiate a pivotal study in the fourth quarter of 2023.
On track to report additional efficacy, durability and safety data and provide a regulatory update and plan for ADI-001 pivotal program in 2Q 2023
Preparing to initiate first potential pivotal study with ADI-001 in the fourth quarter of 2023.
Adicet will present a preclinical data poster for ADI-270 at the American Society of Gene and Cell Therapy (ASGCT) Annual Meeting on May 18, 2023.
The Company continues to advance new pipeline programs and expects to submit an Investigational New Drug Application (IND) for ADI-925 in the second half of 2023.
Forward Guidance
Adicet expects that current cash and cash equivalents as of March 31, 2023, will be sufficient to fund its operating expenses into the first half of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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