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Sep 30, 2022
Adicet Bio Q3 2022 Earnings Report
Reported financial results and operational highlights.
Key Takeaways
Adicet Bio reported its Q3 2022 financial results, highlighting encouraging clinical progress with ADI-001 and a strong cash position of $282.7 million, expected to fund operations into the first half of 2025.
ADI-001 demonstrated a positive safety and efficacy profile based on ASH abstract data-cut.
The company is on track to initiate a potentially pivotal program for ADI-001 in the first half of 2023.
Adicet has a strong balance sheet with $282.7 million in cash and cash equivalents as of September 30, 2022.
The company is hosting an R&D webcast event detailing four new pipeline candidates on November 10, 2022.
Adicet Bio
Adicet Bio
Forward Guidance
Adicet Bio anticipates continued progress with ADI-001, including presenting additional clinical data and initiating a pivotal program. They also plan to advance their pipeline programs and expect their current cash reserves to be sufficient to fund operations into the first half of 2025.
Positive Outlook
- Continued clinical progress with ADI-001.
- Plans to provide additional clinical data on ADI-001 at the American Society of Hematology Annual Meeting in December.
- Promising preclinical data on emerging pipeline programs.
- Initiation of a potentially pivotal program with the recommended Phase 2 dose for ADI-001 in the first half of 2023.
- Expected operationalization of new in-house manufacturing capabilities in the fourth quarter of 2022.
Challenges Ahead
- Effect of COVID-19 on Adicet’s business and financial results.
- Disruptions to preclinical and clinical trials.
- Challenges related to business operations.
- Difficulties in employee hiring and retention.
- Potential inability to raise additional capital.