Adicet Bio Q4 2023 Earnings Report
Key Takeaways
Adicet Bio reported a net loss of $29.5 million for the fourth quarter of 2023, with R&D expenses at $24.8 million and G&A expenses at $6.8 million. The company highlighted the FDA clearance for ADI-001 in lupus nephritis and progress in advancing ADI-270 preclinical development. They extended their projected cash runway into 2H 2026.
FDA cleared IND application for ADI-001 in lupus nephritis, with Phase 1 study initiation expected in 2Q 2024.
Advanced ADI-270 preclinical development in solid tumors, remaining on track to file IND in renal cell carcinoma in 2Q 2024.
Presented persistence and pharmacodynamic data from ADI-001 Phase 1 study at ASH Annual Meeting.
Extended projected cash runway into the second half of 2026 following a successful capital raise and ATM program.
Adicet Bio
Adicet Bio
Forward Guidance
Adicet Bio anticipates several milestones, including initiating a Phase 1 study for ADI-001 in lupus nephritis in 2Q 2024 and filing an IND for ADI-270 in renal cell carcinoma in 2Q 2024. Preliminary clinical data for ADI-001 in lupus nephritis is expected in Q4 2024 or Q1 2025.
Positive Outlook
- Initiate Phase 1 study of ADI-001 in lupus nephritis in 2Q 2024.
- File IND for ADI-270 in renal cell carcinoma in 2Q 2024.
- Provide clinical update on ADI-001 in MCL patients in the second half of 2024.
- Provide clinical data from Phase 1 study of ADI-270 in the first half of 2025.
- Expand ADI-001 development into additional autoimmune indications.
Challenges Ahead
- Clinical data timelines are subject to study site activation progression and patient enrollment.
- IND clearance in additional autoimmune indications is required.
- Regulatory clearance is needed for ADI-270 Phase 1 study.
- Timelines are subject to study initiation progress.
- Future results may not be predictive of ongoing studies.