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Mar 31, 2024
Adicet Bio Q1 2024 Earnings Report
Adicet Bio reported financial results and provided business updates for Q1 2024.
Key Takeaways
Adicet Bio reported a net loss of $28.0 million for the first quarter of 2024, with cash and cash equivalents totaling $247.6 million as of March 31, 2024. The company is on track to initiate a Phase 1 clinical trial evaluating ADI-001 in lupus nephritis in 2Q 2024 and presented preclinical data on ADI-270 at the ASGCT Annual Meeting.
On track to initiate Phase 1 clinical trial evaluating ADI-001 in lupus nephritis in 2Q 2024.
Presented promising preclinical data on ADI-270 at the ASGCT Annual Meeting; on track to file investigational new drug (IND) in renal cell carcinoma in 2Q 2024.
Continuing to enroll mantle cell lymphoma patients in ongoing ADI-001 Phase 1 GLEAN study and expect to share a clinical update in the second half of this year.
Strong balance sheet with $247.6 million in cash and cash equivalents as of March 31, 2024.
Forward Guidance
Adicet expects that current cash and cash equivalents as of March 31, 2024, will be sufficient to fund its operating expenses into the second half of 2026.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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