REDWOOD CITY, Calif. & BOSTON--(BUSINESS WIRE)--Adicet Bio, Inc. (“Adicet”) (Nasdaq: ACET), a clinical stage biotechnology company discovering and developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer, today announced that it has commenced an underwritten public offering of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. The purchase price of each pre-funded warrant will equal the price per share ...

Adicet Bio (ACET) , a clinical-stage company, develops “off-the-shelf” gamma delta T cell therapies with novel mechanisms of action for patients with cancer and autoimmune diseases.The company’s lead product candidate, ADI-001, is an investigational allogeneic gamma delta CAR T cell therapy targeting CD20. It is currently being evaluated in a phase I study for the treatment of relapsed or refractory aggressive B-cell non-Hodgkin’s lymphoma.Over the past month, shares of Adicet have skyrocketed 130.4% compar ...

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Adicet Bio, Inc. (ACET) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.Adicet Bio, Inc. is a member of the Medical sector. This group includes 1077 ind ...

Core Insights - Adicet Bio, Inc. is advancing its pipeline of allogeneic gamma delta T cell therapies, with a focus on addressing cancer and autoimmune diseases in 2024 [1][2] Program Updates and Expected Milestones for 2024 - The FDA has cleared the IND application for ADI-001 in lupus nephritis, with plans to initiate a Phase 1 clinical trial in Q2 2024 and provide a clinical update in the second half of 2024 [3][4] - The ongoing Phase 1 GLEAN study will focus on MCL patients, where an 80% complete response (CR) rate and a 60% 6-month CR rate were reported in June 2023 [4] - ADI-270, targeting renal cell carcinoma, is on track to file an IND application in Q2 2024 following positive feedback from the FDA [5][6] Financial Outlook - The company expects to have sufficient cash and cash equivalents to fund operations into the second half of 2025 [7]

Core Viewpoint - Adicet Bio, Inc. is set to provide an update on its clinical pipeline and corporate outlook during a conference call and webcast on January 4, 2024 [1] Group 1: Company Overview - Adicet Bio, Inc. is a clinical stage biotechnology company focused on discovering and developing allogeneic gamma delta T cell therapies for cancer [3] - The company is advancing a pipeline of "off-the-shelf" gamma delta T cells, which are engineered with chimeric antigen receptors (CARs) to enhance selective tumor targeting and facilitate both innate and adaptive immune responses for durable activity in patients [3] Group 2: Event Details - The conference call and webcast will take place on January 4, 2024, at 8:00 am ET [1] - Participants can access the live webcast by registering on the company's website, and a confirmation email with a unique passcode will be sent to all registrants [2] - For those wishing to participate via telephone, a domestic number (888-788-0099) and an international number (312-626-6799) are provided, along with a conference ID [2] - An archived replay of the presentation will be available for 30 days following the event [2]

Core Insights - Adicet Bio, Inc. has granted an inducement award to a new employee, which includes stock options for 84,000 shares at an exercise price of $1.89 per share, reflecting the closing price on December 29, 2023 [2] - The stock options will vest over a four-year period, with one-fourth vesting on the one-year anniversary and the remaining shares vesting in equal monthly installments [2] - The award was granted outside of the company's stockholder-approved equity incentive plans, under the 2022 Inducement Plan, and was authorized by the compensation committee of the board of directors [3] Company Overview - Adicet Bio, Inc. is a clinical stage biotechnology company focused on developing allogeneic gamma delta T cell therapies for cancer [4] - The company is advancing a pipeline of engineered gamma delta T cells with chimeric antigen receptors (CARs) aimed at enhancing tumor targeting and promoting anti-tumor immune responses [4]

Financial Performance - The company recorded a net loss of $49.9 million for the three months ended September 30, 2023, compared to a net loss of $22.0 million in the same period in 2022, representing a 127% increase in loss [122]. - The company recognized no revenue for the nine months ended September 30, 2023, a decrease of $25.0 million, or 100%, compared to the same period in 2022 due to the completion of obligations under the Regeneron Agreement [128]. - The company recorded a net loss of $49.9 million for the three months ended September 30, 2023, with an accumulated deficit of $351.3 million as of the same date [142]. - Total operating expenses rose by $29.3 million, or 127%, to $52.3 million for the three months ended September 30, 2023, compared to $23.0 million in the same period in 2022 [122]. - Research and development expenses increased by $35.0 million, or 76%, to $81.3 million for the nine months ended September 30, 2023, compared to $46.2 million in the same period in 2022 [129]. - Net cash used in operating activities was $70.2 million for the nine months ended September 30, 2023, compared to $25.9 million for the same period in 2022 [151][152]. - Net cash provided by financing activities was $0.2 million for the nine months ended September 30, 2023, significantly lower than $41.2 million for the same period in 2022 [155]. Research and Development - The lead product candidate, ADI-001, is in an ongoing Phase 1 study for relapsed or refractory aggressive B-cell non-Hodgkin's lymphoma, with an expansion cohort initiated in November 2023 [102]. - The company plans to transition the ADI-001 program into a potentially pivotal single-arm Phase 2 study based on data from the ongoing trials [102]. - The company has paused preclinical development of ADI-925 to prioritize resources on ADI-270, targeting CD70+ cancers [101]. - The company expects to provide a clinical update from the Phase 1 study in NHL patients in the second half of 2024 [102]. - Research and development expenses consist primarily of employee-related costs, consultant agreements, lab materials, and facility-related costs [112]. Cash and Funding - The company had cash and cash equivalents of $183.3 million as of September 30, 2023, expected to fund operations for at least the next twelve months [136]. - As of September 30, 2023, the company had $12.7 million available under the Term Loan and was in compliance with covenants [141]. - The company anticipates needing to raise substantial additional capital to fund operations and product development, influenced by various factors including clinical trials and regulatory approvals [144]. Expenses and Financial Commitments - General and administrative expenses are expected to increase due to costs associated with operating as a public company, including personnel costs and compliance expenses [116]. - Goodwill impairment charges increased by $19.5 million, or 100%, during the three months ended September 30, 2023, representing the entire balance of goodwill [124]. - The company has ongoing lease agreements with significant financial commitments, including an annual base rent of $1.3 million for the Redwood City Lease [157]. Market and Economic Factors - The company is subject to risks related to the development of new product candidates, which may lead to unforeseen expenses and delays [143]. - The company may need to enter collaborations to supplement funds, which could limit its ability to develop and commercialize its product candidates [147]. - The company's assets are primarily monetary, consisting of cash and cash equivalents, which are not directly affected by inflation [167]. - Incremental inflation related to replacement costs of equipment and office improvements is not expected to materially affect operations [167]. - Inflation generally increases costs related to labor, clinical trials, and manufacturing [167]. - The company does not believe inflation had a material effect on its business, financial condition, or results of operations during Q3 2023 [167]. Revenue and Payments - The company received a non-refundable upfront payment of $25.0 million from Regeneron and an additional $20.0 million for research funding as of September 30, 2023 [109]. - As of September 30, 2023, no shares have been sold under the new prospectus for the ATM program, which allows for the sale of up to $100.0 million in common stock [105].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38359 Adicet Bio, Inc. (Exact name of registrant as specified in its charter) Delaware 81-3305277 (State or other jurisdiction o ...

Financial Performance - Revenue decreased by $25.0 million, or 100%, for the three months ended March 31, 2023, due to no revenue recognized under the Regeneron Agreement[119] - Net loss recorded was $30.9 million for the three months ended March 31, 2023, with an accumulated deficit of $269.0 million as of the same date[131] - General and administrative expenses decreased by $0.2 million, or 3%, during the three months ended March 31, 2023, mainly due to lower facility costs and stock-based compensation[121] - Total operating expenses increased by $13.0 million, or 64%, during the three months ended March 31, 2023, compared to the same period in 2022[118] - Interest income increased by $2.6 million, or 8,231%, during the three months ended March 31, 2023, attributed to higher interest rates[122] Research and Development - The ongoing Phase 1 study for the lead product candidate ADI-001 may enroll up to 80 late-stage NHL patients across multiple cancer centers in the U.S.[100] - The FDA granted Fast Track Designation for ADI-001 for NHL in April 2022, with interim results presented at the ASH annual meeting in December 2022[100] - The company plans to initiate a pivotal study for ADI-001 in post-CAR T large B-cell lymphoma patients in Q4 2023[100] - Research and development expenses consist primarily of employee-related costs, consultant agreements, lab materials, and facility-related costs[110] - Research and development expenses increased by $13.3 million, or 98%, during the three months ended March 31, 2023, primarily due to increases in CDMO expenses and payroll[120] Cash and Capital Management - Cash and cash equivalents as of March 31, 2023, were $231.6 million, expected to be sufficient for at least the next twelve months[125] - The company anticipates needing to raise substantial additional capital to fund operations and product development in the foreseeable future[133] - Net cash used in operating activities was $24.1 million for the three months ended March 31, 2023, with non-cash adjustments totaling $6.6 million[140] - Net cash used in investing activities was $1.9 million for the three months ended March 31, 2023, primarily related to the construction of the GMP cell processing suite[142] - Net cash used in financing activities was less than $0.1 million for the three months ended March 31, 2023, related to cash paid for taxes withheld on equity awards[143] Company Operations - The company has no products approved for commercial sale and does not expect to generate revenue from product sales for several years[107] - The company received a non-refundable upfront payment of $25.0 million from Regeneron and an additional $20.0 million for research funding as of March 31, 2023[107] - The company entered into a Capital On Demand™ Sales Agreement, resulting in net proceeds of $43.4 million from the sale of 2,611,723 shares at $17.23 per share[101] - The company increased its tenant improvement allowance by an additional $3.0 million for office and laboratory space buildout[103] - The company wired $187.2 million from its ICS accounts to Pacific Western Asset Management for investment in money market funds[104] Lease Agreements - The initial annual base rent for the Boston Lease was $0.6 million, increasing 2% annually, with an expiration date of July 31, 2026[144] - The initial annual base rent for the Redwood City Lease is $1.3 million, increasing 3% annually, with an expiration date of February 28, 2030[145] Economic Factors - The company does not believe that foreign currency exchange rate fluctuations have had a significant impact on its results of operations for any periods presented[154] - The company does not believe that inflation had a material effect on its business, financial condition, or results of operations during the three months ended March 31, 2023[155] Company Status - The company remains an emerging growth company and smaller reporting company, with annual revenue less than $100 million and market value of stock held by non-affiliates less than $700 million[151] - The company has elected to use the extended transition period for new or revised accounting standards while remaining an emerging growth company[150]

Leaders in Developing Allogeneic CAR and CAd γδ Cell Therapies to Fight Cancer Forward-Looking Statements This presentation contains "forward-looking statements" of Adicet Bio, Inc. (Adicet) within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet. These forward-looking statements include, but are not limited to, express or implied statements regarding the potential safety, durability, tolerability and efficacy of ADI-001; the expected progress ...