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Sep 30, 2025
Adicet Bio Q3 2025 Earnings Report
Adicet Bio reported its financial results and operational highlights for the third quarter ended September 30, 2025.
Key Takeaways
Adicet Bio reported a net loss of $26.9 million for Q3 2025, an improvement from $30.5 million in Q3 2024. The company's R&D and G&A expenses both decreased, contributing to the reduced loss. Adicet also announced positive preliminary safety and efficacy data from its Phase 1 clinical trial of ADI-001 in lupus nephritis and systemic lupus erythematosus, and successfully raised $74.8 million in net proceeds from a registered direct offering, extending its cash runway into the second half of 2027.
Net loss for Q3 2025 was $26.9 million, an improvement from $30.5 million in the same period last year.
Research and Development expenses decreased to $22.9 million in Q3 2025 from $26.3 million in Q3 2024.
General and Administrative expenses decreased to $5.1 million in Q3 2025 from $6.9 million in Q3 2024.
The company successfully raised $74.8 million in net proceeds from a registered direct offering in October 2025, extending its cash runway into the second half of 2027.
Forward Guidance
Adicet Bio plans to request a meeting with the FDA in Q1 2026 to discuss the pivotal trial design for ADI-001, with initiation anticipated in Q2 2026. The company also expects to submit a regulatory filing for ADI-212 in mCRPC in Q1 2026 and share initial clinical data in H2 2026. The recent capital raise has extended the cash runway into H2 2027.
Positive Outlook
- Company plans to request a meeting with the FDA in Q1 2026 to inform potentially pivotal ADI-001 trial design.
- Initiation of the potentially pivotal ADI-001 study is anticipated to commence in Q2 2026.
- On track to share clinical update from Phase 1 study of ADI-001 in LN, SLE, and SSc in H1 2026.
- Plan to submit regulatory filing for ADI-212 in metastatic castration-resistant prostate cancer (mCRPC) in Q1 2026.
- Recent capital raise extended projected cash runway into H2 2027.
Challenges Ahead
- Clinical updates for ADI-001 in treatment-refractory RA patients are expected in H2 2026, indicating a longer timeline for this specific program.
- Initial clinical data for ADI-212 program is subject to regulatory clearance to proceed with a clinical trial, introducing a potential delay.
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