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REDWOOD CITY, Calif. - Adicet Bio, Inc. (NASDAQ:ACET), currently trading at $0.82 per share and showing strong returns over the past month according to InvestingPro data, has dosed the first systemic sclerosis (SSc) patient in the second cohort of its Phase 1 clinical trial evaluating ADI-001 for autoimmune diseases, the company announced Thursday.
The clinical-stage biotechnology company, which maintains a strong liquidity position with more cash than debt and a current ratio of 9.34, is currently enrolling patients with lupus nephritis (LN), systemic lupus erythematosus (SLE), and systemic sclerosis in the trial, with preliminary clinical data expected in the second half of 2025. InvestingPro analysis indicates the company is rapidly burning through cash, a common characteristic of clinical-stage biotech firms.
"There remains a critical unmet need for safe and effective treatment options to combat debilitating autoimmune diseases, including SSc," said Julie Maltzman, Chief Medical Officer of Adicet Bio, in a press release statement.
ADI-001 is an investigational allogeneic gamma delta chimeric antigen receptor (CAR) T cell therapy targeting B-cells via an anti-CD20 CAR. The therapy has received Fast Track Designation from the U.S. Food and Drug Administration for potential treatment of several autoimmune conditions.
The Phase 1 study consists of four separate arms enrolling different patient groups: LN and SLE patients in one arm, SSc patients in a second arm, IIM and SPS patients in a third arm, and AAV patients in a fourth arm. Enrolled patients will receive a single dose of ADI-001, with the primary objective being to evaluate safety and tolerability.
The trial includes a 28-day dose-limiting toxicity window with response and safety assessments conducted on Day 28 and during follow-up periods extending to 24 months.
Adicet Bio focuses on discovering and developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. With a market capitalization of $67.5 million and currently trading below its InvestingPro Fair Value, the company presents an interesting case for investors tracking clinical-stage biotech opportunities. For deeper insights into Adicet Bio’s financial health and growth prospects, including 12 additional ProTips and comprehensive valuation metrics, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Adicet Bio has received a Buy rating from H.C. Wainwright. The firm has set a price target of $4.00 for the company. This coverage centers around Adicet Bio’s ADI-270, a promising therapy currently in a Phase 1 trial. The therapy targets CD70+ cancers and has been granted FDA Fast Track Designation for treating metastatic or advanced clear cell renal cell carcinoma. This designation is significant as it focuses on patients who have already undergone treatment with immune checkpoint and VEGF inhibitors. The analyst’s coverage initiation reflects confidence in the potential of Adicet Bio’s therapeutic developments.
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