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Dec 31, 2020
Adicet Bio Q4 2020 Earnings Report
Adicet Bio reported financial results for the fourth quarter and full year ended December 31, 2020.
Key Takeaways
Adicet Bio reported a net loss of $9.0 million for the fourth quarter of 2020, compared to a net loss of $6.6 million for the same period in 2019. The company's cash, cash equivalents and marketable debt securities were $94.6 million as of December 31, 2020, as compared to $62.4 million as of December 31, 2019.
Initiated first-in-human Phase 1 clinical trial for ADI-001.
Raised $143.6 million in net proceeds through a public offering and concurrent private placement.
Appointed two new members to the Company’s Board of Directors.
Strengthened the management team with the appointment of Nick Harvey as Chief Financial Officer and Dr. Don Healey as Chief Technology Officer.
Adicet Bio
Adicet Bio
Forward Guidance
Adicet expects that current cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses at least into second half of 2023.