Adicet Bio(ACET)2025-05-06 20:04Financial Performance - Adicet Bio reported a net loss of 0.31 per share, compared to a net loss of 0.35 per share, in Q1 2024[8][12] - Research and Development (R&D) expenses decreased to 23.9 million in Q1 2024, primarily due to a 150.4 million as of March 31, 2025, down from $176.3 million as of December 31, 2024, with expectations to fund operations into the second half of 2026[8][12] Clinical Trials and Development - Enrollment is ongoing for the Phase 1 clinical trial of ADI-001 in autoimmune diseases, with preliminary data expected in 2H 2025[3][7] - The Phase 1 clinical trial of ADI-270 in metastatic/advanced clear cell renal cell carcinoma (ccRCC) is also underway, with preliminary data anticipated in 2H 2025[7][8] - Adicet has received Fast Track Designation from the FDA for ADI-001 targeting refractory systemic lupus erythematosus and systemic sclerosis[3][8] - Adicet plans to initiate enrollment for additional autoimmune disease patients in the Phase 1 trial by Q3 2025[3][8] - The company aims to leverage its allogeneic gamma delta CAR T cell therapy platform, identifying two promising programs targeting PSMA and autoimmune diseases[2][3] - Adicet will present preclinical data for ADI-270 at the ASGCT Annual Meeting in May 2025, highlighting its anti-tumor activity[7][8] Leadership Changes - The company appointed Michael Grissinger to its Board of Directors, bringing over 40 years of experience in biopharmaceutical business development and strategy[5]