Adicet Bio Q3 2023 Earnings Report
Key Takeaways
Adicet Bio reported a net loss of $49.9 million for the third quarter of 2023, including a goodwill impairment expense of $19.5 million. The company is focusing on advancing ADI-001 and ADI-270, with plans to file an IND for ADI-270 in the first half of 2024. Cash and cash equivalents were $183.3 million as of September 30, 2023, expected to fund operations into the first half of 2025.
Initiated ADI-001 Phase 1 EXPAND cohort in post CAR T large B cell lymphoma (LBCL).
Continuing to enroll mantle cell lymphoma (MCL) patients in ADI-001 Phase 1 study.
Prioritizing ADI-270 for solid tumor applications; on track to file ADI-270 Investigational New Drug Application (IND) in 1H 2024.
Presented new preclinical data at the International Conference on Molecular Targets and Cancer Therapeutics and three posters at the Society for Immunotherapy of Cancer (SITC) 37th Annual Meeting.