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Dec 31, 2022
Adicet Bio Q4 2022 Earnings Report
Adicet Bio reported financial results for Q4 2022 and full year, highlighting company progress and clinical data from ADI-001 study.
Key Takeaways
Adicet Bio reported a net loss of $29.9 million for the fourth quarter of 2022, compared to a net loss of $15.8 million for the same period in 2021. Research and development expenses increased to $25.0 million, and general and administrative expenses were $6.6 million. The company's cash and cash equivalents totaled $257.7 million as of December 31, 2022.
Reported interim safety and efficacy data for ADI-001 in Phase 1 study for relapsed or refractory B-cell non-Hodgkin’s lymphoma (NHL), with next data update expected in Q2 2023.
Announced preclinical data for differentiated chimeric antigen receptor (CAR) and chimeric adaptor (CAd) programs at SITC 37th Annual Meeting and Adicet’s R&D Pipeline Event.
In-house manufacturing capacity established in Redwood City facility, enabling drug product and vector manufacturing for early clinical development.
ADI-001 demonstrated a 75% overall response rate (ORR) and a 69% complete response (CR) across all dose levels with a favorable safety and tolerability profile.
Adicet Bio
Adicet Bio
Forward Guidance
Adicet Bio expects that current cash and cash equivalents securities as of December 31, 2022 will be sufficient to fund its operating expenses into the first half of 2025.