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On Friday, H.C. Wainwright maintained a Neutral rating on Adicet Bio Inc. (NASDAQ:ACET) shares, following the announcement of positive biomarker data from a Phase 1 GLEAN study. The study evaluated ADI-001, Adicet Bio's off-the-shelf gamma delta T cell product candidate with an anti-CD20 CAR, in patients with relapsed or refractory non-Hodgkin’s lymphoma (NHL).
Adicet Bio reported on September 19 that ADI-001 led to the depletion of B cells in peripheral blood and secondary tissue. Out of 24 patients treated in the study, 23 showed undetectable B cell counts within the first three months post-treatment. This result is considered comparable to the effects of Gazyva (obinutuzumab) when used with standard of care.
The study findings also indicated that ADI-001's tissue trafficking surpassed that of Yescarta (axi-cel) as reported in published studies. Unlike current anti-CD20 antibodies, which deplete CD19+ B cells in blood but not in lymphoid tissue, ADI-001 demonstrated a more comprehensive depletion effect.
Adicet's Chief Scientific Officer highlighted that while both CD19 CAR T and CD20 antibody Rituximab caused complete depletion of CD19+ B cells in peripheral blood, only CD19 CAR T achieved the same in lymph nodes.
Adicet Bio's ADI-001 has previously received FDA Fast Track Designation for the treatment of relapsed or refractory B-cell NHL. The recent data from the Phase 1 GLEAN study suggest that ADI-001 not only depletes B cells but could also emerge as a potential off-the-shelf therapy for autoimmune diseases. Despite the promising results, H.C. Wainwright's stance on the stock remains unchanged with a Neutral rating.
In other recent news, Adicet Bio has announced promising data from the Phase 1 GLEAN trial for its ADI-001 therapy, suggesting potential as a leading treatment for autoimmune diseases. The firm's strategic shift towards autoimmune diseases has led to the cessation of the Mantle Cell Lymphoma study, focusing instead on conditions such as lupus nephritis, systemic lupus erythematosus, systemic sclerosis, and anti-neutrophil cytoplasmic autoantibody associated vasculitis.
Analysts from Canaccord Genuity and Jones Trading have adjusted their price targets for Adicet Bio, while maintaining a Buy rating, reflecting the company's revised product pipeline. The U.S. Food and Drug Administration has granted Fast Track Designation to Adicet Bio's investigational therapy ADI-001 and clearance for a Phase 1 clinical trial of ADI-270, a novel gamma delta CAR T cell therapy candidate.
Lastly, the company has expanded its board with the appointment of Dr. Lloyd Klickstein, an expert in rheumatology, immunology, and drug development, which is expected to advance its autoimmune programs.
InvestingPro Insights
The latest data from InvestingPro paints a nuanced picture for Adicet Bio Inc. (NASDAQ:ACET). One notable InvestingPro Tip is that analysts have recently revised their earnings estimates upwards for the company's upcoming period, indicating a potential positive shift in expectations. This optimism may align with the promising results from Adicet Bio's Phase 1 GLEAN study, suggesting that the market is responding to the company's scientific advancements.
On the financial side, Adicet Bio holds a market cap of $125.25 million, which reflects the size of the company within the biotech industry. Despite this, the company's P/E ratio stands at -0.72, underscoring that it is not currently profitable. This is further supported by another InvestingPro Tip highlighting that analysts do not anticipate Adicet Bio will be profitable this year. Moreover, the company's price is at 40.32% of its 52-week high, which could suggest a potential undervaluation or that the stock has faced significant downward pressure.
Investors may also take note of the company's cash position, as Adicet Bio reportedly holds more cash than debt, which may offer some financial stability as it continues to fund its research and development efforts. For those interested in deeper analysis, there are additional InvestingPro Tips available that could provide more insights into Adicet Bio's financial health and market performance.
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