Adicet Bio reports Q4 net loss $29.5M, extends cash runway into 2H 2026; IND cleared for ADI-001 in lupus nephritis

Adicet Bio, Inc.

Net loss $29.5M ($0.69/share) in Q4 2023 vs $29.9M ($0.72/share) in Q4 2022; full-year net loss $142.7M ($3.31/share) vs $69.8M ($1.70/share).
Cash and equivalents $159.7M at Dec 31, 2023; raised net $91.8M from public offering and $19.3M from ATM in Jan 2024, extending runway into 2H 2026.
FDA cleared IND for ADI-001 in lupus nephritis in Dec 2023; Phase 1 trial initiation expected in Q2 2024 with preliminary data in Q4 2024/Q1 2025.
On track to file IND for ADI-270 in renal cell carcinoma in Q2 2024; Phase 1 clinical data expected in first half of 2025.
Appointed Benjamin Hsu, M.D., Ph.D., as VP Clinical Development - Autoimmune, to lead autoimmune cell therapy programs.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Adicet Bio, Inc. reported fourth quarter and year ended December 31, 2023 results: net income Net loss for the three months ended December 31, 2023 was $29.5 million, or a net loss of $0.69 per basic and diluted sh, EPS $0.69 per basic and diluted share.

Period: fourth quarter and year ended December 31, 2023
Net income: Net loss for the three months ended December 31, 2023 was $29.5 million, or a net loss of $0.69 per basic and diluted sh
EPS: $0.69 per basic and diluted share
Result: reported results

Exact text from the filing

On March 19, 2024, Adicet Bio, Inc. announced its financial results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0000950170-24-033476

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