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Director Ali Behbahani of Adaptimmune Therapeutics PLC (NASDAQ:ADAP), a micro-cap biotech company valued at $15.77 million, recently sold shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. The sales, which occurred on August 15 and August 18, 2025, involved a total of 19,499,999 ordinary shares, resulting in proceeds of $229,171. According to InvestingPro, the stock has fallen 88% year-to-date and currently trades near its 52-week low of $0.06.
On August 15, Behbahani sold 4,828,206 shares in multiple transactions at prices ranging from $0.0099 to $0.0118, with a weighted average price of $0.011, and on August 18, he sold 14,671,794 shares at prices ranging from $0.0114 to $0.0130, with a weighted average price of $0.012. Following these transactions, Behbahani no longer directly owns shares in the company.
The shares are held by New Enterprise Associates 16, L.P. ("NEA 16"), and Behbahani is a manager of NEA 16 GP, LLC, the sole general partner of NEA Partners 16, L.P., which is the sole general partner of NEA 16.
In other recent news, Adaptimmune Therapeutics has agreed to sell its cell therapy assets to US WorldMeds for $55 million in cash, with potential milestone payments of up to $30 million. This transaction includes the transfer of TECELRA and development-stage therapies such as lete-cel, afami-cel, and uza-cel, and is expected to close soon. Following this announcement, H.C. Wainwright downgraded Adaptimmune’s stock rating from Buy to Neutral. Mizuho (NYSE:MFG) also downgraded Adaptimmune from Outperform to Neutral, citing concerns about the company’s financial sustainability despite some initial success with the US commercial launch of Tecelra. In related industry news, Context Therapeutics has appointed Dr. Karen Chagin as its new Chief Medical (TASE:BLWV) Officer. Dr. Chagin has a notable background, having played a pivotal role at Adaptimmune in the approval of Tecelra. These developments highlight significant changes and challenges in the cell therapy sector.
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