NASDAQ$ACET
Adicet Bio Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results and operational highlights for the second quarter ended June 30, 2023.
Adicet Bio reported a net loss of $32.4 million for the second quarter of 2023, with research and development expenses increasing to $28.4 million. The company's cash and cash equivalents totaled $205.5 million as of June 30, 2023, expected to fund operations into the first half of 2025. Clinical development continues with ADI-001, ADI-925 and ADI-270.
- Announced encouraging safety and efficacy data from the Phase 1 study of ADI-001 for relapsed or refractory B-cell non-Hodgkin’s lymphoma (NHL).
- On track to report a clinical update for ADI-001 in the second half of 2024.
- Plan to file Investigational New Drug Application (IND) for ADI-925 in H2 2023 and ADI-270 in H1 2024.
- Strong balance sheet with $205.5 million in cash and cash equivalents as of June 30, 2023.
Headline financials
Revenue & EPS history
Adicet Bio · Revenue · Quarterly
$179K
Forward guidance
Adicet Bio is focused on advancing its pipeline of allogeneic gamma delta T cell therapies for cancer. The company anticipates several milestones, including clinical updates and IND submissions, while maintaining a sufficient cash position to fund operations into the first half of 2025.
Tailwinds
- Clinical update for ADI-001 is expected in the second half of 2024.
- IND for ADI-925 is planned for submission in H2 2023.
- IND for ADI-270 is planned for submission in H1 2024.
- ADI-001 program is planned to transition into a potentially pivotal Phase 2 study in 2024.
- Cash and cash equivalents are expected to fund operating expenses into the first half of 2025.
Headwinds
- The effect of global economic conditions and public health emergencies on Adicet’s business and financial results.
- Positive results from a preclinical or clinical study may not be predictive of the results of future studies.
- Clinical studies may fail to demonstrate adequate safety and efficacy of Adicet’s 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.
- Adicet’s ability to meet production and product release expectations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
+1.1%
Avg return
Earnings day
+1.2%
Avg return
5 days after
-5.2%
Avg return
30 days after
52%
16 / 31 earnings
Positive
+29.7%
Q4 2021
Best reaction
-9.1%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.4% | -5.3% | — | |
| Q4 2025 | -3.2% | -1.6% | -4.0% | |
| Q3 2025 | -3.6% | -6.4% | -22.6% | |
| Q1 2025 | -6.9% | -7.5% | -7.9% | |
| Q4 2024 | -2.3% | +15.0% | -33.8% | |
| Q3 2024 | +1.5% | -3.8% | -19.8% | |
| Q2 2024 | +7.9% | +20.5% | +20.5% | |
| Q1 2024 | -2.8% | +11.1% | +0.7% | |
| Q4 2023 | +9.7% | +12.3% | +3.8% | |
| Q3 2023 | -4.9% | -10.3% | +4.9% | |
| Q2 2023 | +6.8% | -2.7% | -23.2% | |
| Q1 2023 | +4.1% | -4.5% | -14.9% | |
| Q4 2022 | -3.1% | -19.5% | -29.5% | |
| Q3 2022 | +1.9% | +11.0% | +3.8% | |
| Q2 2022 | -9.1% | -11.0% | -4.9% | |
| Q1 2022 | +8.6% | +13.1% | +9.6% | |
| Q4 2021 | +29.7% | +31.0% | +37.6% | |
| Q3 2021 | +3.2% | +0.8% | +49.7% | |
| Q2 2021 | +8.1% | -5.9% | +6.4% | |
| Q1 2021 | +1.5% | +7.7% | -22.5% | |
| Q4 2020 | -0.7% | +6.2% | -11.2% | |
| Q3 2020 | +5.9% | +9.2% | +22.3% | |
| Q2 2020 | +0.4% | +4.4% | -17.3% | |
| Q1 2020 | +9.1% | +10.3% | +24.6% | |
| Q4 2019 | -8.5% | -17.1% | -6.0% | |
| Q3 2019 | -5.3% | +6.7% | -85.2% | |
| Q2 2019 | -3.5% | -3.7% | -22.2% | |
| Q1 2019 | -4.6% | -7.3% | +1.3% | |
| Q4 2018 | -8.3% | -10.8% | -23.3% | |
| Q3 2018 | -5.8% | -5.2% | -2.7% | |
| Q2 2018 | +5.1% | -0.9% | +9.3% | |
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