ADAP Adaptimmune Therapeutics plc

3.86
-0.04  -1%
Previous Close 3.9
Open 3.91
52 Week Low 3.67
52 Week High 10.93
Market Cap $600,220,041
Shares 155,497,420
Float 124,355,608
Enterprise Value $319,012,809
Volume 1,809,357
Av. Daily Volume 969,080
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Upcoming Catalysts

Drug Stage Catalyst Date
AFP (ADP-A2AFP)
Hepatocellular carcinoma
Phase 1
Phase 1
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ADP-A2M4CD8 (SURPASS)
Solid tumors
Phase 1
Phase 1
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Afami-cel (ADP-A2M4)
Solid tumors
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
Afami-cel - (SPEARHEAD‑1)
Synovial sarcoma or myxoid/round cell liposarcoma (MRCLS)
Phase 2
Phase 2
Phase 2 enrolment has been completed. Initial data at ASCO June 4-8, 2021. Abstract noted overall response rate was 39.3% (13/33), 41.4% (12/29) for synovial sarcoma; 25.0% (1/4) for MRCLS.
ADP-A2M4CD8
Gastroesophageal cancers
Phase 1
Phase 1
Phase 2 trial to commence 1H 2021.
MAGE-A10 (ADP-A2M10)
Non-Small Cell Lung Cancer (NSCLC)
Phase 1
Phase 1
Phase 1 enrolment completed 2019.

Latest News

  1. - Data will support BLA filing for afamitresgene autoleucel next year -

    - Responses observed across a broad range of antigen expression -

    - Initial safety and durability are encouraging -

    PHILADELPHIA and OXFORDSHIRE, United Kingdom, May 19, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, will report initial data from its Phase 2 SPEARHEAD-1 trial, with afamitresgene autoleucel (afami-cel, formerly ADP-A2M4), at the American Society of Clinical Oncology (ASCO) congress. Full abstracts were released online today. Data will be presented in an oral presentation by Dr. Sandra D'Angelo of the Memorial Sloan Kettering Cancer Center (Abstract #11504) on June 4th.

    "Patients are seeing…

    - Data will support BLA filing for afamitresgene autoleucel next year -

    - Responses observed across a broad range of antigen expression -

    - Initial safety and durability are encouraging -

    PHILADELPHIA and OXFORDSHIRE, United Kingdom, May 19, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, will report initial data from its Phase 2 SPEARHEAD-1 trial, with afamitresgene autoleucel (afami-cel, formerly ADP-A2M4), at the American Society of Clinical Oncology (ASCO) congress. Full abstracts were released online today. Data will be presented in an oral presentation by Dr. Sandra D'Angelo of the Memorial Sloan Kettering Cancer Center (Abstract #11504) on June 4th.

    "Patients are seeing substantial benefit from afami-cel in SPEARHEAD-1 across a broad range of cell doses and levels of MAGE-A4 expression," said Adrian Rawcliffe, Adaptimmune Chief Executive Officer. "We have shown a high response rate and these responses are still evolving in many patients with increasing depths of response over time and encouraging durability. I am confident that SPEARHEAD-1 will support our BLA submission next year and offer a life-changing treatment for people with synovial sarcoma."

    "Initial data from SPEARHEAD-1 indicate that afami-cel has the potential to offer people with synovial sarcoma a promising new treatment option where there is currently a great unmet medical need," said Dr. Sandra P. D'Angelo of the Memorial Sloan Kettering Cancer Center. "As clinicians, we want to be able to provide a treatment regimen that can help offer a better quality of life."

    SPEARHEAD-1 data will be presented at the time of the oral presentation scheduled for June 4th during the sarcoma session taking place from 1:30 p.m. to 4:30 p.m. EDT.

    Afami-cel is efficacious and well-tolerated in heavily pre-treated patients based on initial data

    • At the time of data cut-off (March 29, 2021), 37 patients had received afami-cel (32 with synovial sarcoma, 5 with myxoid/ round cell liposarcoma [MRCLS])
    • Of the 37 patients who had received afami-cel, 4 patients were pending first efficacy assessment, and 33 had at least one scan as of data cut off (29 with synovial sarcoma, 4 with MRCLS)
    • The overall response rate1 was 39.3% (13/33), 41.4% (12/29) for synovial sarcoma; 25.0% (1/4) for MRCLS
    • Of the 29 patients with synovial sarcoma with at least one scan, 2 had complete responses (CRs), 10 had partial responses (PRs), 13 had stable disease (SD), 4 had progressive disease (PD)
    • The disease control rate for people with synovial sarcoma was 86.2% (25/29) (defined as either response or stable disease)
    • Of the 4 patients with MRCLS with at least one scan, 1 patient had a partial response, 2 had stable disease, and 1 had progressive disease
    • Objective responses have been reported across a wide range of cell doses and MAGE-A4 antigen expression levels
    • Initial durability data is encouraging, and the median duration of response has not been reached
    • To date, the safety profile of afami-cel has been favorable, with mainly low-grade cytokine release syndrome and tolerable/reversible hematologic toxicities.

    Overview of SPEARHEAD-1 trial design

    SPEARHEAD-1 is a Phase 2, open-label trial for people with advanced synovial sarcoma or MRCLS to evaluate the efficacy, safety, and tolerability of afami-cel. Afami-cel SPEAR T-cells target MAGE-A4+ tumors. MAGE-A4 is highly expressed in synovial sarcoma and MRCLS in the context of HLA-A*02. Compelling clinical responses in patients with synovial sarcoma were previously reported with afami-cel in a Phase 1 trial (CTOS 2020).

    Approximately 90 patients are planned to be treated: 45 in Cohort 1 and 45 in Cohort 2. Enrollment in Cohort 1 is complete, and Cohort 2 is currently recruiting. The primary efficacy analysis will be for Cohort 1 only, which will be used to support the BLA filing next year. No formal hypothesis testing is planned for Cohort 2. Cohort 2 will strengthen the efficacy and safety database and will aid in descriptive sub-group analyses.

    Eligible patients were ≥ 16 and < 75 years, HLA*02 positive with MAGE-A4 expression in ≥ 30% of tumor cells that were ≥ 2+ by immunohistochemistry. Eligible patients received afami-cel doses between 1–10 × 109 transduced T-cells after receiving lymphodepleting chemotherapy.

    The primary endpoint is overall response rate per RECIST v1.1 by independent review. The primary endpoint will be evaluated using a one-sided exact-based Clopper-Pearson 97.5% confidence interval (CI). If the lower bound of the CI exceeds the response rate reported with historical second line therapy(ies), the trial will have met the pre-specified threshold for demonstrating efficacy.

    An independent Data Safety Monitoring Board reviews ongoing safety and benefit:risk during the interventional phase of the trial.

    About Adaptimmune

    Adaptimmune is a clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for people with cancer. The Company's unique SPEAR (Specific Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple solid tumors.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve certain risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on May 6, 2021 and our other SEC filings. The forward-looking statements contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update such forward-looking statements to reflect subsequent events or circumstances.

    Adaptimmune Contacts:

    Media Relations:

    Sébastien Desprez — VP, Communications and Investor Relations

    T: +44 1235 430 583

    M: +44 7718 453 176

    Investor Relations:

    Juli P. Miller, Ph.D. — Senior Director, Investor Relations

    T: +1 215 825 9310

    M: +1 215 460 8920

    1 Reponses were evaluated by RECIST v1.1 per Investigator assessment



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  2. - Preclinical data validate that human T-cells expressing a TCR targeting mesothelin, independent of HLA recognition, can kill human tumor cells -

    - HiT works as well, or better than, a TRuC construct targeting mesothelin in preclinical studies -

    PHILADELPHIA and OXFORDSHIRE, United Kingdom, May 11, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, reported preclinical data from its HiT targeting mesothelin, being co-developed with Astellas, during a poster presentation at the American Society for Cell and Gene Therapy (ASGCT) meeting today.

    "These data are very exciting because our HLA-independent TCR targeting mesothelin induced complete regression in a mouse tumor xenograft…

    - Preclinical data validate that human T-cells expressing a TCR targeting mesothelin, independent of HLA recognition, can kill human tumor cells -

    - HiT works as well, or better than, a TRuC construct targeting mesothelin in preclinical studies -

    PHILADELPHIA and OXFORDSHIRE, United Kingdom, May 11, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, reported preclinical data from its HiT targeting mesothelin, being co-developed with Astellas, during a poster presentation at the American Society for Cell and Gene Therapy (ASGCT) meeting today.

    "These data are very exciting because our HLA-independent TCR targeting mesothelin induced complete regression in a mouse tumor xenograft model and also outperformed a TRuC construct that we developed in-house," said Karen Miller, SVP, Pipeline Research. "The natural signaling machinery of the TCR, as well as our proprietary TCR engineering and affinity optimization expertise, offer distinct advantages over cell therapies that rely on antibody moieties to engage antigen. We are evaluating further HiT targets, as we deliver against our 2-2-5-2 strategic plan to bring new cell therapy products forward for clinical development and launch."  

    Adaptimmune has developed a T-cell receptor (TCR) that can directly bind to the cell surface protein mesothelin, independent of HLA, using the Company's proprietary naïve phage display libraries and affinity optimization techniques. The HLA-independent TCR or HiT platform enables the Company to target extracellular proteins, such as those utilized by CAR or TRuC T-cell therapies. Data from the ASGCT presentation are summarized below.

    Adaptimmune's HiTs are CD8 and HLA-independent and kill mesothelin expressing human tumor cells

    • Human T-cells expressing the mesothelin-targeted HiT kill human tumor cell lines and primary human lung tumor cells expressing mesothelin
    • Data demonstrate that the mesothelin HiT is not dependent on CD8 to kill target cells, and CD4 cells expressing the HiT are cytotoxic towards tumor cells
    • A TRuC construct was developed by Adaptimmune as a comparator for these experiments, which also killed mesothelin target cells independently of CD8

    Adaptimmune's HiTs are not neutralized by free mesothelin, but the TRuC construct is

    • Data from additional in vitro experiments clearly show that Adaptimmune's HiT is not neutralized by soluble mesothelin, unlike the TRuC construct
    • It has been described that CAR-T and similar therapies, which rely on high affinity antibody moieties to engage antigen, can be neutralized by soluble target protein, inhibiting their function1
    • This is particularly important for many tumor targets that are both cell-surface bound and secreted, as is the case with mesothelin

    Adaptimmune's HiT T-cells targeting mesothelin induce complete tumor regression in a mouse xenograft tumor model and outperform a comparator TRuC construct

    • Immunodeficient mice were implanted with human pancreatic Capan-2 mesothelin-expressing tumor cells
    • Mice with pre-established tumors received HiT T-cells or TRuC comparator T-cells by a single IV injection
    • Data showed a strong, dose-dependent, and persistent tumor regression with HiT T-cells
    • TRuC T-cells only inhibited tumor growth at comparative doses to those used with the HiT T-cells

    About Adaptimmune

    Adaptimmune is a clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for people with cancer. The Company's unique SPEAR (Specific Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple solid tumors.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve certain risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on May 6, 2021 and our other SEC filings. The forward-looking statements contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update such forward-looking statements to reflect subsequent events or circumstances.

    Adaptimmune Contacts:

    Media Relations:

    Sébastien Desprez — VP, Communications and Investor Relations

    T: +44 1235 430 583

    M: +44 7718 453 176

    Investor Relations:

    Juli P. Miller, Ph.D. — Senior Director, Investor Relations

    T: +1 215 825 9310

    M: +1 215 460 8920

    ____________________________

    1 Pont MJ, Hill T, Cole GO, et al. γ-Secretase inhibition increases efficacy of BCMA-specific chimeric antigen receptor T cells in multiple myeloma. Blood. 2019;134(19):1585-1597.



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  3. - Initial SPEARHEAD-1 data to be presented in an oral presentation at ASCO -

    - First preclinical update from HLA-independent TCR (HiT) targeting mesothelin at ASGCT -

    - Enrollment momentum in SURPASS and ADP-A2AFP clinical trials increased in Q1 -

    - Astellas nominates second target as part of allogeneic co-development and co-commercialization agreement -

    - Financial guidance confirmed: funded into early 2023 -

    - Conference call to be held today at 9:00 a.m. EDT (2:00 p.m. BST) -

    PHILADELPHIA and OXFORD, United Kingdom, May 06, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, today reported financial results for the first quarter ended March 31, 2021 and provided a business…

    - Initial SPEARHEAD-1 data to be presented in an oral presentation at ASCO -

    - First preclinical update from HLA-independent TCR (HiT) targeting mesothelin at ASGCT -

    - Enrollment momentum in SURPASS and ADP-A2AFP clinical trials increased in Q1 -

    - Astellas nominates second target as part of allogeneic co-development and co-commercialization agreement -

    - Financial guidance confirmed: funded into early 2023 -

    - Conference call to be held today at 9:00 a.m. EDT (2:00 p.m. BST) -

    PHILADELPHIA and OXFORD, United Kingdom, May 06, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, today reported financial results for the first quarter ended March 31, 2021 and provided a business update.

    "We will present initial data at ASCO from our SPEARHEAD-1 trial that will support BLA submission in 2022. We have seen good enrollment in the SURPASS and ADP-A2AFP trials and will present data later this year," said Adrian Rawcliffe, Adaptimmune's Chief Executive Officer. "We continue to deliver against our ambitions laid out in our 2-2-5-2 strategic plan to bring products forward for clinical development and launch. At ASGCT next week, we will present preclinical data from our first HiT product targeting mesothelin. Results indicate that this HiT works as well or better than similar cell therapy constructs targeting the same antigen in in vitro killing assays as well as an animal model."

    Upcoming confirmed data updates

    • Data from the Company's HiT mesothelin program, being co-developed with Astellas, to be presented at the American Society of Gene & Cell Therapy (ASGCT), in a poster presentation that will be available on the conference's website May 11 at 8:00 a.m. EDT



      • Important progress towards achievement of preclinical pipeline milestones laid out in the Company's strategic five-year "2-2-5-2" product development plan presented at Investor Day in November 2020
      • Preclinical data validate that human T-cells expressing a TCR that targets mesothelin independent of peptide-HLA recognition, can kill human tumor cells
      • Presentation will include animal model data that demonstrate superiority of the Company's HiT targeting mesothelin over a comparator T-cell therapy construct targeting the same antigen in an in vivo tumor xenograft study
      • This product was nominated by Astellas as the first candidate under the agreement to co-develop and co-commercialize iPSc (stem-cell) derived allogeneic CAR-T and TCR T-cell therapies



    • Oral presentation of initial data from the SPEARHEAD-1 trial with afamitresgene autoleucel (afami-cel, formerly ADP-A2M4) for people with synovial sarcoma and MRCLS at the American Society of Clinical Oncology (ASCO) on June 4th during the Sarcoma Session starting at 1:30 p.m. EDT (abstract # 11504)



      • At time of data cut-off for the abstract1, 32 patients had received afami-cel. Twenty-five patients were evaluable for preliminary efficacy and 7 patients had insufficient follow-up
      • On May 19, 2021 at 5:00 p.m. EDT, abstracts will be released on ASCO's Meeting Library and the Company plans to issue a press release2
      • The Phase 2 SPEARHEAD-1 trial was initiated after promising results from the Phase 1 trial showed durable responses with afami-cel in synovial sarcoma with confirmed responses in 44% of patients, disease control rate of 94%, and median duration of response of 28 weeks presented at CTOS 2020
      • The Company will submit an abstract with a further update for consideration at CTOS 2021

    Planned data updates 3

    • SURPASS Phase 1 trial with ADP-A2M4CD8 (next-generation product targeting MAGE-A4) at European Society for Medical Oncology (ESMO) in September
    • ADP-A2AFP Phase 1 trial for people with liver cancer at the International Liver Cancer Association (ILCA) in September
    • Radiation sub-study of the ADP-A2M4 Phase 1 trial at American Society for Radiation Oncology (ASTRO) in October
    • Afami-cel translational data update at Society for Immunotherapy of Cancer (SITC) in November

    Other Corporate News

    • Astellas has nominated the second target as part of the co-development and co-commercialization agreement signed with Adaptimmune in January 2020

    Financial Results for the first quarter ended March 31, 2021

    • Cash / liquidity position: As of March 31, 2021, Adaptimmune had cash and cash equivalents of $32.4 million and Total Liquidity4 of $317.9 million.
    • Revenue: Revenue for the first quarter ended March 31, 2021 was $0.4 million, compared to $0.8 million for the same period in 2020.
    • Research and development (R&D) expenses: R&D expenses for the first quarter ended March 31, 2021 were $24.5 million compared to $21.3 million for the same period in 2020. R&D expenses increased in the quarter ended March 31, 2021 due to an increase in the number of employees engaged in research and development, and increases in costs related to the development of a companion diagnostic assay and our Phase 2 clinical trial associated with ADP-A2M4CD8. These increases were offset by an increase in reimbursements receivable for research and development tax and expenditure credits.
    • General and administrative (G&A) expenses: G&A expenses for the first quarter ended March 31, 2021 were $13.8 million compared to $9.3 million for the same period in 2020 due to an increase in share-based compensation expense and an increase in employee related costs.
    • Net loss: Net loss attributable to holders of the Company's ordinary shares for the first quarter ended March 31, 2021 was $37.8 million ($(0.04 per ordinary share), compared to $28.2 million ($(0.04) per ordinary share) for the same period in 2020.

    Financial Guidance

    The Company believes that its existing cash, cash equivalents and marketable securities will fund the Company's current operations into early 2023, as further detailed in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, to be filed with the Securities and Exchange Commission following this earnings release.

    Conference Call Information

    The Company will host a live teleconference and webcast to provide additional details at 9:00 a.m. EDT (2:00 p.m. BST) today, May 6, 2021. A live webcast of the conference call and replay can be accessed at https://bit.ly/2Ry9DdR. An archive will be available after the call at the same address. To participate in the live conference call, if preferred, please dial (833) 652-5917 (US or Canada) or +1 (430) 775-1624 (International). After placing the call, please ask to be joined into the Adaptimmune conference call and provide the confirmation code (9271335).

    About Adaptimmune

    Adaptimmune is a clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for people with cancer. The Company's unique SPEAR (Specific Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple solid tumors. 

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve certain risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 25, 2021 and our other SEC filings. The forward-looking statements contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update such forward-looking statements to reflect subsequent events or circumstances.

    Total Liquidity (a non-GAAP financial measure)

    Total Liquidity (a non-GAAP financial measure) is the total of cash and cash equivalents and marketable securities (available-for-sale debt securities). Each of these components appears separately in the condensed consolidated balance sheet. The U.S. GAAP financial measure most directly comparable to Total Liquidity is cash and cash equivalents as reported in the condensed consolidated financial statements, which reconciles to Total Liquidity as follows (in millions):

          
     March 31,     December 31, 
     2021 2020
    Cash and cash equivalents$32,432 $56,882
    Marketable securities - available-for-sale debt securities 285,512  311,335
    Total Liquidity$ 317,944 $ 368,217

    The Company believes that the presentation of Total Liquidity provides useful information to investors because management reviews Total Liquidity as part of its assessment of overall liquidity, financial flexibility, capital structure and leverage.



    Condensed Consolidated Statement of Operations

    (unaudited, in thousands, except per share data)

            
         Three months ended  
      March 31,  
         2021     2020  
    Revenue $ 434  $ 761  
    Operating expenses       
    Research and development  (24,506)  (21,264) 
    General and administrative  (13,817)  (9,261) 
    Total operating expenses   (38,323)   (30,525) 
    Operating loss   (37,889)   (29,764) 
    Interest income  425   730  
    Other (expense) income, net  (1)  937  
    Loss before income taxes   (37,465)   (28,097) 
    Income taxes  (298)  (70) 
    Net loss attributable to ordinary shareholders $ (37,763) $ (28,167) 
            
    Net loss per ordinary share       
    Basic and diluted $ (0.04) $ (0.04) 
            
    Weighted average shares outstanding:       
    Basic and diluted  931,088,810   739,753,371  
            



    Condensed Consolidated Balance Sheets

    (unaudited, in thousands, except share data)

          
     March 31,  December 31, 
     2021     2020 
    Assets     
    Current assets     
    Cash and cash equivalents$32,432  $56,882 
    Marketable securities - available-for-sale debt securities 285,512   311,335 
    Other current assets and prepaid expenses 41,349   29,935 
    Total current assets  359,293    398,152 
          
    Restricted cash 4,604   4,602 
    Operating lease right-of-use assets, net of accumulated amortization 18,326   18,880 
    Property, plant and equipment, net of accumulated depreciation of $32,703 (2020: $31,097) 27,739   27,778 
    Intangibles, net of accumulated amortization 1,619   1,730 
    Total assets$ 411,581  $ 451,142 
          
    Liabilities and stockholders' equity     
    Current liabilities     
    Accounts payable$4,116  $6,389 
    Operating lease liabilities, current 2,845   2,773 
    Accrued expenses and other accrued liabilities 22,263   27,079 
    Deferred revenue, current 2,083   2,832 
    Total current liabilities  31,307    39,073 
          
    Operating lease liabilities, non-current 19,897   20,938 
    Deferred revenue, non-current 50,565   49,260 
    Other liabilities, non-current 655   644 
    Total liabilities  102,424    109,915 
          
    Stockholders' equity     
    Common stock - Ordinary shares par value £0.001, 1,038,249,630 authorized and 932,817,168 issued and outstanding (2020: 1,038,249,630 authorized and 928,754,958 issued and outstanding) 1,331   1,325 
    Additional paid in capital 941,569   935,706 
    Accumulated other comprehensive loss (10,224)  (10,048)
    Accumulated deficit (623,519)  (585,756)
    Total stockholders' equity  309,157    341,227 
          
    Total liabilities and stockholders' equity$ 411,581  $ 451,142 



    Condensed Consolidated Cash Flow Statement

    (unaudited, in thousands)

           
     Three months ended     
     March 31,  
     2021     2020     
    Cash flows from operating activities      
    Net loss$(37,763) $(28,167) 
    Adjustments to reconcile net loss to net cash used in operating activities:      
    Depreciation 1,436   1,711  
    Share-based compensation expense 5,334   1,448  
    Unrealized foreign exchange losses (gains) 1,249   (1,745) 
    Amortization on available-for-sale debt securities 1,499   150  
    Other 1,299   175  
    Changes in operating assets and liabilities:      
    Increase in receivables and other operating assets (11,155)  (3,193) 
    Increase in non-current operating assets    (259) 
    Decrease in payables and other current liabilities (8,601)  (2,708) 
    Increase in deferred revenue 162   49,445  
    Net cash (used in) provided by operating activities  (46,540)   16,857  
           
    Cash flows from investing activities      
    Acquisition of property, plant and equipment (1,152)  (192) 
    Acquisition of intangibles (133)  (152) 
    Maturity or redemption of marketable securities 84,646   26,364  
    Investment in marketable securities (61,599)  (97,967) 
    Net cash provided by (used in) investing activities  21,762    (71,947) 
           
    Cash flows from financing activities      
    Proceeds from issuance of common stock, net of issuance costs    90,550  
    Proceeds from exercise of stock options 534   894  
    Net cash provided by financing activities  534    91,444  
           
    Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (204)  (502) 
    Net (decrease) increase in cash, cash equivalents and restricted cash (24,448)  35,852  
    Cash, cash equivalents and restricted cash at start of period 61,484   54,908  
    Cash, cash equivalents and restricted cash at end of period$ 37,036  $ 90,760  
           

    Adaptimmune Contacts:

    Media Relations:

    Sébastien Desprez — VP, Communications and Investor Relations

    T: +44 1235 430 583

    M: +44 7718 453 176

     

    Investor Relations:

    Juli P. Miller, Ph.D. — Senior Director, Investor Relations

    T: +1 215 825 9310

    M: +1 215 460 8920

     

    1 Data cut-off for the abstract was February 4, 2021.

    2 "Once an abstract has been publicly released by ASCO and the embargo has lifted, authors and research sponsors may widely distribute a press release containing the full data, including any additional or updated data that will be presented at the meeting even if not included in the abstract itself." (https://bit.ly/3dHgOcn)

    3 All data updates subject to congress acceptance

    4 Total liquidity is a non-GAAP financial measure, which is explained and reconciled to the most directly comparable financial measures prepared in accordance with GAAP below.



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  4. PHILADELPHIA and OXFORDSHIRE, United Kingdom, April 27, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, will report initial preclinical data from its HLA Independent TCR (HiT) targeting mesothelin, being co-developed with Astellas, during a poster presentation at the American Society for Cell and Gene Therapy (ASGCT) meeting. Abstracts were published online today, and data will be updated during the conference.

    • Abstract Title: In vitro selection and engineering of a human leukocyte antigen-independent T-cell receptor recognizing human mesothelin (Abstract # 641)
    • Poster Presentation: Tuesday May 11, 2021 8:00 a.m. - 10:00 a.m. EDT during the Cancer - Immunotherapy, Cancer Vaccines…

    PHILADELPHIA and OXFORDSHIRE, United Kingdom, April 27, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, will report initial preclinical data from its HLA Independent TCR (HiT) targeting mesothelin, being co-developed with Astellas, during a poster presentation at the American Society for Cell and Gene Therapy (ASGCT) meeting. Abstracts were published online today, and data will be updated during the conference.

    • Abstract Title: In vitro selection and engineering of a human leukocyte antigen-independent T-cell receptor recognizing human mesothelin (Abstract # 641)
    • Poster Presentation: Tuesday May 11, 2021 8:00 a.m. - 10:00 a.m. EDT during the Cancer - Immunotherapy, Cancer Vaccines Session

    About Adaptimmune

    Adaptimmune is a clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for people with cancer. The Company's unique SPEAR (Specific Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple solid tumors.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve certain risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 25, 2021 and our other SEC filings. The forward-looking statements contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update such forward-looking statements to reflect subsequent events or circumstances.

    Adaptimmune Contacts:

    Media Relations:

    Sébastien Desprez — VP, Communications and Investor Relations

    T: +44 1235 430 583

    M: +44 7718 453 176

    Investor Relations:

    Juli P. Miller, Ph.D. — Senior Director, Investor Relations

    T: +1 215 825 9310

    M: +1 215 460 8920



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  5. PHILADELPHIA and OXFORDSHIRE, United Kingdom, April 22, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, will report financial results and provide a business update for the first quarter ended March 31, 2021, before the US markets open on Thursday, May 6, 2021. Following the announcement, the Company will host a live teleconference and webcast at 9:00 a.m. EDT (2:00 p.m. BST) that same day (details below).

    The press release will be available in the investor section of Adaptimmune's corporate website at www.adaptimmune.com. A live webcast of the conference call and replay can be accessed at https://bit.ly/2Ry9DdR.

    To participate in the live conference call, please dial (833…

    PHILADELPHIA and OXFORDSHIRE, United Kingdom, April 22, 2021 (GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (NASDAQ:ADAP), a leader in cell therapy to treat cancer, will report financial results and provide a business update for the first quarter ended March 31, 2021, before the US markets open on Thursday, May 6, 2021. Following the announcement, the Company will host a live teleconference and webcast at 9:00 a.m. EDT (2:00 p.m. BST) that same day (details below).

    The press release will be available in the investor section of Adaptimmune's corporate website at www.adaptimmune.com. A live webcast of the conference call and replay can be accessed at https://bit.ly/2Ry9DdR.

    To participate in the live conference call, please dial (833) 652-5917 (U.S. or Canada) or

    +1 (430) 775-1624 (International). After placing the call, please ask to be joined into the Adaptimmune conference call and provide the confirmation code (9271335).

    About Adaptimmune

    Adaptimmune is a clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for people with cancer. The Company's unique SPEAR (Specific Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple solid tumors.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve certain risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 25, 2021 and our other SEC filings. The forward-looking statements contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update such forward-looking statements to reflect subsequent events or circumstances.

    Adaptimmune Contacts:

    Media Relations:

    Sébastien Desprez — VP, Communications and Investor Relations

    T: +44 1235 430 583

    M: +44 7718 453 176

    Investor Relations:

    Juli P. Miller, Ph.D. — Senior Director, Investor Relations

    T: +1 215 825 9310

    M: +1 215 460 8920



    Primary Logo

    View Full Article Hide Full Article
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