ACET Adicet Bio Inc.

7.25
-0.02  -0%
Previous Close 7.27
Open 7.31
52 Week Low 7.31
52 Week High 21.4
Market Cap $142,026,253
Shares 19,589,828
Float 27,844,769
Enterprise Value $15,506,700
Volume 70,346
Av. Daily Volume 185,777
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Latest News

  1. MENLO PARK, Calif., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in three upcoming virtual investor conferences in August.

    Details of the events are as follows:

    The BTIG Virtual Biotechnology Conference 2021, August 9-10, 2021
    Chen Schor, President and Chief Executive Officer, will participate in a fireside chat on Monday, August 9, 2021 at 9:00 AM ET

    Wedbush PacGrow Healthcare Conference 2021, August 10-11, 2021
    Chen Schor, President and Chief Executive Officer, will participate in a panel discussion on Tuesday, August 10, 2021 at 9:45 AM ET…

    MENLO PARK, Calif., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in three upcoming virtual investor conferences in August.

    Details of the events are as follows:

    The BTIG Virtual Biotechnology Conference 2021, August 9-10, 2021

    Chen Schor, President and Chief Executive Officer, will participate in a fireside chat on Monday, August 9, 2021 at 9:00 AM ET

    Wedbush PacGrow Healthcare Conference 2021, August 10-11, 2021

    Chen Schor, President and Chief Executive Officer, will participate in a panel discussion on Tuesday, August 10, 2021 at 9:45 AM ET

    Canaccord Genuity 41st Annual Growth Conference, August 10-12, 2021

    Chen Schor, President and Chief Executive Officer, will participate in a fireside chat on Wednesday, August 11, 2021 at 8:00 AM ET

    A live audio webcast of the Canaccord Genuity fireside chat can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. An archived replay will be available for 30 days following the presentation.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200



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  2. MENLO PARK, Calif and BOSTON, July 15, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the formation of a Scientific Advisory Board (SAB). The SAB is comprised of renowned scientific leaders in the fields of T cell biology, immunology, and oncology.

    "We are very pleased to have such distinguished and talented experts join Adicet's scientific advisory board," said Chen Schor, President and Chief Executive Officer of Adicet Bio. "The combined knowledge of our SAB members in translational science and clinical development as well as their strategic counsel will serve as a vital resource in advancing…

    MENLO PARK, Calif and BOSTON, July 15, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the formation of a Scientific Advisory Board (SAB). The SAB is comprised of renowned scientific leaders in the fields of T cell biology, immunology, and oncology.

    "We are very pleased to have such distinguished and talented experts join Adicet's scientific advisory board," said Chen Schor, President and Chief Executive Officer of Adicet Bio. "The combined knowledge of our SAB members in translational science and clinical development as well as their strategic counsel will serve as a vital resource in advancing the development of our lead asset, ADI-001, and our pipeline of "off-the-shelf" gamma delta T cell product candidates."  

    Adicet's SAB members include:

    Alice Bertaina, M.D., Ph.D.

    Dr. Bertaina is an Associate Professor of Pediatrics - Stem Cell Transplantation in the department of Stem Cell Transplantation and Regenerative Medicine and a pediatric hematologist/oncologist at Lucile Packard Children's Hospital at Stanford University. She is an expert in the field of allogeneic hematopoietic stem cell transplantation (HSCT) in pediatric patients affected by hematological malignancies or nonmalignant disorders. Prior to joining Stanford, she was Head of the Stem Cell Transplant Unit in the Department of Hematology and Oncology at the Bambino Gesù Children's Hospital in Rome. Dr. Bertaina obtained her M.D. degree at the University of Pavia, Italy; fellowship in HSCT at the Bambino Gesù Children's Hospital, Rome, and Ph.D. degree in Immunology and Biotechnology at Tor Vergata University in Rome.

    Marco Davila, M.D., Ph.D.

    Dr. Davila is a medical oncologist in the Department of Blood and Marrow Transplantation at Moffitt Cancer Center. He is a clinical expert with significant experience with gene-engineered T cell therapies. Dr. Davila's clinical focus is utilizing cell therapies to treat patients with hematologic malignancies. His research has been acknowledged with grants and/or awards from the American Society of Hematology, Damon Runyon Cancer Research Foundation, American Society of Clinical Oncology, and American Society for Clinical Investigation. Dr. Davila obtained his M.D. and Ph.D. degrees at the Duke University School of Medicine and trained in medicine and medical oncology at NY Presbyterian Weill-Cornell and the Memorial Sloan Kettering Cancer Center, respectively.

    Rupert Handgretinger, M.D.

    Dr. Handgretinger is Professor emeritus of Pediatrics. He was the Chairman of the Department of General Pediatrics and Hematology/Oncology at Children's University Hospital, Tübingen, Germany. He is currently working at the Abu Dhabi Stem Cell Center and Yas clinic Khalifa City. Dr. Handgretinger's main research interests have been cellular immunotherapeutic approaches to the treatment of children with various forms of cancer. He was one of the first to introduce immunotherapy with bispecific antibodies in children with relapsed/refractory acute lymphoblastic leukemia and is also involved in clinical trials using anti-CD19 and anti-CD19/22 CAR's in pediatric R/R ALL. He pioneered the T-cell receptor alpha/beta depletion technology in allogeneic transplantation. He received his medical degree from the Eberhard Karls University in Tübingen, where he completed his training in pediatrics and hematology/oncology.

    Michael Kalos, Ph.D.

    Dr. Michael Kalos is an internationally recognized expert in T cell therapy and immunotherapy and brings over 25 years of experience in the fields of cell therapy, oncology vaccines, and immune-oncology. Previously, Dr. Kalos was Executive Vice President and Head of Research and Development at ArsenalBio. He also served as Vice President, Immuno-oncology and Oncology Cell Therapies, at Janssen, the Pharmaceutical Companies of Johnson and Johnson, and chief scientific officer at Eli Lilly & Company. Dr. Kalos's academic lab at UPenn played a key role in the early clinical development of Kymriah, including developing the methodologies and strategies to enable robust pharmacodynamic and mechanistic analysis of CAR T therapies. He obtained his Ph.D. from the University of Minnesota and completed post-doctoral training in the laboratory of Phil Greenberg at the Fred Hutchinson Cancer Research Center.

    Lloyd Klickstein, M.D., Ph.D.

    Dr. Klickstein is the Chief Executive Officer of Versanis Bio. Previously he served as Adicet Bio's Chief Innovation Officer since its merger with resTORbio in September 2020, formerly holding the role of Chief Scientific Officer of resTORbio. Prior to joining resTORbio, Dr. Klickstein was Head of Translational Medicine for the New Indication Discovery Unit (NIDU) and the Exploratory Disease Area (DAx) at Novartis Institutes for Biomedical Research. Dr. Klickstein received his B.S. degree from Tufts University, his M.D. and Ph.D. degrees from Harvard University, completed post-graduate clinical training in Internal Medicine, Rheumatology & Immunology at BWH and a post-doctoral research fellowship at the Center for Blood Research in Boston.

    Saul Priceman, Ph.D. 

    Dr. Priceman is Assistant Professor in the Departments of Hematology and Hematopoietic Cell Transplantation and Immuno-Oncology at City of Hope Comprehensive Cancer Center. He is also Associate Director of Translational Sciences in the T Cell Immunotherapy Program. Over the last 10 years, Dr. Priceman's research has focused on T cell biology and clinical translation of cancer immunotherapies. His laboratory develops CAR based T cell therapies and combinatorial approaches for the treatment of solid cancers including breast, prostate, ovarian and pancreas, and has brought several therapies to phase 1 clinical testing. Dr. Priceman's research has led to high-impact journal publications in Science Translational Medicine, Cell Metabolism, Clinical Cancer Research, and Molecular Therapy, with numerous patents and technologies licensed for further clinical development. His research has been funded with grants and/or awards from the Department of Defense, California Institute for Regenerative Medicine, and the National Comprehensive Cancer Network. Dr. Priceman received his B.S. in microbiology at University of California Santa Barbara, and his Ph.D. in molecular and medical pharmacology at University of California Los Angeles.

    Constantine Mitsiades, M.D., Ph.D.

    Dr. Mitsiades is Assistant Professor of Medicine at Harvard Medical School in the Department of Medical Oncology at Dana-Farber Cancer Institute, and his research focuses on understanding and overcoming the mechanisms of tumor cell resistance to pharmacological and immune-based therapies. He received his M.D., Ph.D., and a master's degree in Basic and Clinical Medical Sciences from the University of Athens, School of Medicine, in Greece. He also received a master's degree in Medical Sciences from Harvard Medical School.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

     



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  3. MENLO PARK, Calif. and BOSTON, June 28, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that the Company has been added to the Russell 2000® Index, effective June 28, 2021, as part of the 2021 Russell indexes annual reconstitution.

    "Adicet's inclusion in the US small-cap Russell 2000 Index reflects the meaningful progress we have made over the past year, and we believe it will help broaden awareness of our differentiated pipeline of ‘off-the-shelf' gamma delta T cell product candidates for the treatment of solid and hematologic tumors," said Chen Schor, President and Chief Executive Officer of…

    MENLO PARK, Calif. and BOSTON, June 28, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that the Company has been added to the Russell 2000® Index, effective June 28, 2021, as part of the 2021 Russell indexes annual reconstitution.

    "Adicet's inclusion in the US small-cap Russell 2000 Index reflects the meaningful progress we have made over the past year, and we believe it will help broaden awareness of our differentiated pipeline of ‘off-the-shelf' gamma delta T cell product candidates for the treatment of solid and hematologic tumors," said Chen Schor, President and Chief Executive Officer of Adicet Bio. "We continue to build momentum and look forward to reporting interim clinical data from the Phase 1 study of ADI-001, our lead candidate, later this year."

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

    For more information on the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, express or implied statements regarding the potential benefits resulting from the inclusion in the US small-cap Russell 2000 Index to our business or strategy, and preclinical and clinical development of Adicet's product candidates and timing of interim clinical data from Adicet's Phase 1 study of ADI-001. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet's business and financial results, including with respect to disruptions to its clinical trials and business operations; future clinical studies may fail to demonstrate adequate safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization; regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time-consuming, and inherently unpredictable; as well as those risks and uncertainties set forth in Adicet's most recent quarterly report on Form 10-Q and subsequent filings with the Securities and Exchange Commission (SEC). For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200



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  4. MENLO PARK, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in two upcoming virtual investor conferences in May and June.

    Details of the events are as follows:

    UBS Global Healthcare Virtual Conference, May 24-26, 2021
    Chen Schor, President and Chief Executive Officer, will present on Wednesday, May 26, 2021, at 7:00 AM ET.

    The JMP Securities Life Sciences Conference, June 16-17, 2021
    Chen Schor, President and Chief Executive Officer, will participate in a fireside chat on Wednesday, June 16, 2021 at 3:00 PM ET.

    Live audio webcasts of the…

    MENLO PARK, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in two upcoming virtual investor conferences in May and June.

    Details of the events are as follows:

    UBS Global Healthcare Virtual Conference, May 24-26, 2021

    Chen Schor, President and Chief Executive Officer, will present on Wednesday, May 26, 2021, at 7:00 AM ET.

    The JMP Securities Life Sciences Conference, June 16-17, 2021

    Chen Schor, President and Chief Executive Officer, will participate in a fireside chat on Wednesday, June 16, 2021 at 3:00 PM ET.

    Live audio webcasts of the presentations can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. An archived replay will be available for 30 days following the presentation.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

     

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

     



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    • Initiated Phase 1 Trial of ADI-001 for the Treatment of B Cell Non-Hodgkin's Lymphoma (NHL), interim clinical data expected in late 2021
    • Successfully raised $143.8 million in net proceeds through a public offering and concurrent private placement to advance a pipeline of CAR gamma-delta T cell therapies

    MENLO PARK, Calif. and BOSTON, May 17, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today reported financial results for the first quarter ended March 31, 2021.

    "The first quarter of 2021 has been highly productive for Adicet both on the financial and clinical fronts. The successful execution of…

    • Initiated Phase 1 Trial of ADI-001 for the Treatment of B Cell Non-Hodgkin's Lymphoma (NHL), interim clinical data expected in late 2021
    • Successfully raised $143.8 million in net proceeds through a public offering and concurrent private placement to advance a pipeline of CAR gamma-delta T cell therapies

    MENLO PARK, Calif. and BOSTON, May 17, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today reported financial results for the first quarter ended March 31, 2021.

    "The first quarter of 2021 has been highly productive for Adicet both on the financial and clinical fronts. The successful execution of our capital raise, and the initiation of the Phase 1 trial of our lead product candidate, ADI-001, being evaluated for the treatment of NHL, have put us in a strong position to continue to build upon our ongoing momentum through the rest of the year," said Chen Schor, President and Chief Executive Officer of Adicet Bio. "We look forward to reporting interim clinical data from the Phase 1 study of ADI-001 later this year as well as continuing to develop our pipeline of "off-the-shelf" gamma delta T cell product candidates for the treatment of solid and hematologic tumors."

    First Quarter & Recent Business Updates:

    • Appointed Dr. Blake Aftab as Vice President of Research. In April 2021, Adicet announced the appointment of Blake Aftab, Ph.D., as Vice President of Research and Development. Dr. Aftab will lead Adicet's research group and further progress the Company's gamma delta T cell platform and pipeline of programs. Dr. Aftab has nearly 20 years of rich experience in academia, biotech and the pharmaceutical industry developing multiple therapeutic modalities including cell therapies, small molecules, biologics and antibody-drug conjugates through all stages of drug development. Dr. Aftab succeeds Dr. Stewart Abbot who will be stepping down from his role as Chief Scientific Officer and moving to an advisory role with the Company.
    • Initiated Phase 1 Trial of ADI-001 for the Treatment of NHL. In March 2021, Adicet announced the initiation of its first-in-human Phase I clinical trial evaluating ADI-001, an investigational first-in-class allogeneic gamma delta T cell therapy expressing a chimeric antigen receptor (CAR) targeting CD20, for the treatment of NHL. ADI-001 is believed to be the first IND-cleared allogeneic CAR gamma-delta T cell therapy to reach human trials. Patient dosing has commenced in the Phase I trial to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of ADI-001, and to determine optimal dosing as a monotherapy. Preliminary safety and tolerability data expected by the end of 2021.

    • Appointed Andrew Sinclair, Ph.D., to the Company's Board of Directors. In March 2021, Adicet announced the appointment of Andrew Sinclair, Ph.D., to its Board of Directors. Dr. Sinclair is currently a partner and portfolio manager at Abingworth LLP, where he has served in various positions focusing on investments in public and private biotech and pharmaceutical companies.

    • Successfully raised $143.8 million in net proceeds through a public offering and concurrent private placement. In February 2021, Adicet successfully completed a capital financing of $152 million in aggregate gross proceeds. After deducting underwriting discounts and commissions and offering expenses, the Company received $143.8 million of net proceeds. The Company plans to utilize the net proceeds from the financing to advance its gamma delta T cell therapies.

    Financial Results for First Quarter 2021:

    • Research and Development (R&D) Expenses: R&D expenses were $11.7 million for the three months ended March 31, 2021, compared to $7.0 million during the same period in 2020. The $4.7 million increase is primarily driven by an increase of $2.7 million of payroll and personnel expenses due to increases in headcount of employees involved in research and development activities, an increase of $1.3 million incurred for contract research organizations and consultant costs due to ramping up of clinical development activities related to our first product candidate, ADI-001 and an increase of $0.7 million in facility and other expenses. Payroll and personnel expenses for the three months ended March 31, 2021 includes $1.5 million of non-cash stock-based compensation expense compared to $0.1 million during the same period in 2020.
    • General and Administrative (G&A) Expenses: G&A expenses were $5.6 million for the three months ended March 31, 2021, compared to $2.5 million during the same period in 2020. The $3.1 million increase is primarily driven by an increase of $1.5 million of payroll and personnel expenses, an increase of $0.4 million of professional fees for legal, consulting, accounting, tax and other services, and an increase of $1.1 million in facility and other expenses. Payroll and personnel expenses for the three months ended March 2021 includes $1.4 million of non-cash stock-based compensation expense compared to $0.2 million during the same period in 2020.
    • Net Loss: Net loss attributable to common shareholders for the three months ended March 31, 2021 was $21.3 million, or a net loss of $0.82 per basic and diluted share, including non-cash stock-based compensation expense of $3.0 million, as compared to a net loss of $4.5 million during the same period in 2020, or a net loss of $2.07 per basic and diluted share, including non-cash stock-based compensation expense of $0.3 million.
    • Cash and Marketable Debt Securities Position: Cash and cash equivalents and marketable debt securities were $223.4 million as of March 31, 2021, compared to $94.6 million as of December 31, 2020. The Company expects that current cash, cash equivalents and marketable securities as of March 31, 2021 will be sufficient to fund its operating expenses through the beginning of the second half of 2023.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements



    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, express or implied statements regarding preclinical and clinical development of Adicet's product candidates, including future plans or expectations for ADI-001 and ADI-002 and potential therapeutic effects of ADI-001 and ADI-002, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding the design, implementation, timing, and success of its current and future clinical studies of ADI-001, and ADI-002 including whether they are pivotal or would support registration, expectations regarding its other CAR T cell therapy development activities, Adicet's growth as a company and the anticipated contribution of the members of its board of directors to its operations and progress, and its expectations regarding its uses of capital, expenses, future accumulated deficit and other first quarter 2021 financial results. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet's business and financial results, including with respect to disruptions to its clinical trials, business operations, and ability to raise additional capital; Adicet's ability to execute on its strategy; that positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; future clinical studies may fail to demonstrate adequate safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization; regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time-consuming, and inherently unpredictable; regulatory developments in the United States and foreign countries; Adicet's estimates regarding expenses, future revenue, and capital requirements; as well as those risks and uncertainties set forth in Adicet's most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission (SEC). For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

    Adicet Bio, Inc.

    Consolidated Statements of Operations and Comprehensive Loss

    (in thousands, except share and per share amounts)

    (unaudited)

     Three Months Ended March 31,
      2021   2020 
    Revenue—related party$(3,981) $2,000 
    Operating expenses:   
    Research and development 11,743   7,033 
    General and administrative 5,630   2,524 
    Total operating expenses 17,373   9,557 
    Loss from operations (21,353)  (7,557)
    Interest income 41   322 
    Interest expense (50)   
    Other income (expense), net (4)  70 
    Loss before income tax benefit (21,367)  (7,165)
    Income tax expense (benefit) (48)  (2,679)
    Net loss$(21,319) $(4,486)
    Net loss per share attributable to common stockholders, basic and diluted$(0.82) $(2.07)
    Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 26,099,954   2,163,440 



    Adicet Bio, Inc.

    Balance Sheet Data

    (in thousands)

    (unaudited)

         
      March 31,

    2021
     December 31,

    2020




    Cash, cash equivalents and marketable debt securities
     $223,420  $94,614 
    Working capital  203,923   77,857 
    Total assets  282,073   153,835 
    Contract liabilities—related party  17,961   13,980 
    Accumulated deficit  (127,644)  (106,325)
    Total stockholders' equity  236,259   109,827 

     



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