Adicet Bio Q2 2022 Earnings Report
Key Takeaways
Adicet Bio reported positive clinical data from ADI-001, received FDA Fast Track Designation, and has a strong balance sheet with $304.3 million in cash and cash equivalents. The company is on track to potentially initiate at least one pivotal study during the first half of 2023 and expects to meet several meaningful milestones along the way, including during the second half of this year.
Received FDA Fast Track Designation for lead candidate ADI-001.
Presented positive preclinical data at the ISCT Annual Meeting.
Presented positive interim data from the Phase 1 study of ADI-001 at the 2022 ASCO Annual Meeting, demonstrating 75% CR and ORR rate.
Moved Research & Development (R&D) operations to Redwood City, California; Establishing in-house manufacturing capacity.
Adicet Bio
Adicet Bio
Forward Guidance
Adicet expects that current cash and cash equivalents of $304.3 million will be sufficient to fund its operating expenses into the first half of 2025.