Adicet Bio Q3 net loss $49.9M ($1.16/share); goodwill impairment of $19.5M

Adicet Bio, Inc.

2023-Q3 EPS reported -$2.63

Revenue not reported; R&D expenses $26.2M vs $16.6M YoY; G&A $6.6M vs $6.4M.
Cash $183.3M at Sept 30 2023, down from $257.7M at Dec 31 2022; runway into H1 2025.
Initiated ADI-001 EXPAND cohort in post-CAR T LBCL; MCL enrollment continues.
Prioritizing ADI-270 for solid tumors; IND filing expected H1 2024; paused ADI-925.
Goodwill fully impaired by $19.5M following impairment test.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Adicet Bio, Inc. reported the third quarter ended September 30, 2023 results: net income $49.9 million, EPS $1.16 per basic and diluted share.

Period: the third quarter ended September 30, 2023
Net income: $49.9 million
EPS: $1.16 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss for the three months ended September 30, 2023 was $49.9 million, or a net loss of $1.16 per basic and diluted share

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Source: SEC EDGAR

accession 0000950170-23-061121

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