Adaptimmune stock rating downgraded by H.C. Wainwright after asset sale

Investing.com - H.C. Wainwright downgraded Adaptimmune Therapeutics plc (NASDAQ:ADAP) from Buy to Neutral on Tuesday following the company’s announcement of a significant asset sale. The stock has fallen over 63% in the past week, with InvestingPro data showing the shares trading near their 52-week low of $0.10.

On Monday, Adaptimmune revealed an agreement to sell its cell therapy portfolio, including Tecelra, lete-cel, afami-cel, and uza-cel, to privately-held US WorldMeds for up to $85 million. The deal includes a $55 million upfront payment and potential milestone payments of up to $30 million. According to InvestingPro data, this transaction value represents more than three times the company’s current market capitalization of $26.51 million.

US WorldMeds will acquire these assets along with related intellectual property and receive exclusive manufacturing rights for the acquired therapies, plus non-exclusive rights to Adaptimmune’s vector manufacturing process. Adaptimmune will provide transition services as part of the agreement.

The transaction is expected to close on August 4, 2025. Alongside this asset sale, Adaptimmune plans to reduce its workforce by approximately 62%, which will result in restructuring costs of $7-8 million in the third quarter of 2025.

H.C. Wainwright cited the lack of meaningful near-term catalysts and only preclinical assets remaining in Adaptimmune’s pipeline as reasons for the downgrade, removing its price target for the stock. InvestingPro analysis reveals 15+ additional insights about Adaptimmune’s financial health and market position, available in the comprehensive Pro Research Report.

In other recent news, Adaptimmune Therapeutics has announced the sale of its cell therapy assets to US WorldMeds for $55 million in cash, with the possibility of an additional $30 million in milestone payments. The transaction includes the transfer of TECELRA, the first FDA-approved engineered TCR T-cell therapy, along with other development-stage therapies such as lete-cel, afami-cel, and uza-cel. This deal is expected to close by the end of the week. In a related development, Mizuho (NYSE:MFG) has downgraded Adaptimmune’s stock rating from Outperform to Neutral due to concerns over the company’s financial sustainability, despite positive feedback on the initial commercial success of TECELRA in the US. Meanwhile, Context Therapeutics has appointed Dr. Karen Chagin as its new Chief Medical (TASE:BLWV) Officer. Dr. Chagin’s previous experience includes a pivotal role at Adaptimmune in the approval of TECELRA, marking her as a significant addition to Context Therapeutics’ leadership. She will be taking over from Dr. Karen Smith, who will remain on the company’s Board of Directors.

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