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Sep 30, 2020
Adicet Bio Q3 2020 Earnings Report
Adicet Bio reported financial results for the third quarter ended September 30, 2020 and provided a business update.
Key Takeaways
Adicet Bio reported a net loss attributable to common shareholders of $14.8 million for the third quarter ended September 30, 2020. The company's cash and cash equivalents and marketable debt securities were $108.1 million as of September 30, 2020. They also completed a merger with resTORbio and received a $10 million product development milestone payment from Regeneron.
IND application cleared by FDA for lead asset, ADI-001, a first-in-class allogeneic CAR gamma-delta T cell therapy.
Built out the management team with the appointment of Nick Harvey as Chief Financial Officer and Don Healey, Ph.D., as Chief Technology Officer.
Successfully completed merger with resTORbio.
Received $10 million product development milestone payment from Regeneron.
Adicet Bio
Adicet Bio
Forward Guidance
Adicet expects to initiate the Phase 1 clinical trial for ADI-001 in the first quarter of 2021 for the treatment of non-Hodgkin’s lymphoma.