Adicet Bio, Inc. ACET
We are a clinical stage biotechnology company discovering and developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. We are advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors (CARs), to facilitate durable activity in patients.
Our approach to activate, engineer and manufacture allogeneic gamma delta T cell product candidates derived from the peripheral blood cells of unrelated donors allows us to generate new product candidates in a rapid and cost-efficient manner. Our allogeneic "off-the-shelf" manufacturing process is designed to allow product from unrelated donors to be stored and sold on demand to treat patients without inducing a graft versus host immune response. This is in contrast to products based on alpha beta T cells, which either must be manufactured for each patient from his or her own T cells, or require significant gene editing to manufacture if the T cells are derived from donors that are unrelated to the patient.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D | $99.1M | $99.3M | $106.0M | $71.2M | $48.9M | $34.3M | $23.7M | $14.7M | $16.8M | — |
| SG&A | $23.0M | $28.3M | $26.5M | $26.3M | $22.2M | $22.8M | $8.7M | $8.4M | $2.0M | — |
| Total operating expenses | $122.1M | $127.6M | $152.0M | $97.5M | $71.2M | $57.1M | $32.4M | $23.1M | $18.9M | — |
| Operating income | -$122.1M | -$127.6M | -$152.0M | -$72.6M | -$61.4M | -$39.2M | -$31.4M | -$15.0M | -$18.9M | — |
| Interest expense | $36.0K | $4.0K | $25.0K | $80.0K | $176.0K | $134.0K | — | — | — | — |
| Pre-tax income | -$116.8M | -$117.1M | -$142.7M | -$69.8M | -$62.1M | -$39.5M | -$28.1M | -$9.9M | -$33.8M | — |
| Income tax | $0 | $0 | $0 | $0 | $125.0K | $2.8M | $19.0K | $589.0K | $0 | — |
| Net income | -$116.8M | -$117.1M | -$142.7M | -$69.8M | -$62.0M | -$36.7M | -$28.1M | -$9.3M | -$33.8M | — |
| EPS, basic | -16.95 | -21.33 | -3.31 | -1.70 | -2.00 | — | — | — | — | — |
| EPS, diluted | -16.95 | -21.33 | -3.31 | -1.70 | -2.00 | -5.01 | -13.15 | -4.78 | -8.42 | — |
| Shares, diluted (wtd. avg.) | $6.9M | $5.5M | $43.0M | $41.1M | $31.0M | $7.3M | $2.1M | $2.0M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $38.9M | $56.5M | $159.7M | $257.7M | $277.7M | $88.9M | $14.9M | $9.5M | $36.9M | $0 |
| Short-term investments | — | — | — | — | $0 | $10.3M | $51.8M | — | $0 | — |
| Total current assets | $160.9M | $180.1M | $162.3M | $261.0M | $282.4M | $100.3M | $64.2M | $109.5M | $55.2M | — |
| Property, plant and equipment | $16.5M | $22.5M | $26.8M | $28.7M | $14.6M | $2.8M | $2.1M | $321.0K | $39.0K | — |
| Goodwill | — | — | $0 | $19.5M | $19.5M | $20.1M | — | — | — | — |
| Other intangibles | — | — | — | — | $0 | — | — | — | — | — |
| Total assets | $192.4M | $220.2M | $207.3M | $330.7M | $338.9M | $153.8M | $81.6M | $109.9M | $55.2M | — |
| Accounts payable | $4.7M | $4.8M | $2.6M | $4.4M | $3.3M | $1.6M | $1.1M | $3.0M | $1.5M | — |
| Total current liabilities | $21.5M | $19.4M | $19.3M | $19.7M | $16.3M | $22.5M | $14.9M | $5.7M | $5.5M | — |
| Total liabilities | $33.1M | $33.6M | $37.1M | $38.4M | $35.8M | $44.0M | $27.9M | $5.7M | $5.5M | — |
| Retained earnings | -$614.7M | -$497.9M | -$380.8M | -$238.1M | -$168.3M | -$106.3M | -$69.6M | -$71.4M | -$33.8M | — |
| Total equity | $159.2M | $186.6M | $170.2M | $292.3M | $303.1M | $109.8M | -$60.4M | -$33.5M | -$26.9M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$95.2M | -$92.4M | -$93.7M | -$44.8M | -$51.1M | -$41.6M | -$27.9M | -$18.2M | -$11.0M | — |
| Depreciation and amortisation | $6.4M | $6.5M | $6.1M | — | — | — | $100.0K | $80.0K | $5.0K | — |
| Stock-based compensation | $14.3M | $22.2M | $20.3M | $17.1M | $12.5M | $5.3M | $1.2M | $2.5M | $470.0K | — |
| Capital expenditure | $1.7M | $1.1M | $4.5M | $16.8M | $13.0M | $990.0K | $1.1M | $876.0K | $44.0K | — |
| Investing cash flow | $2.4M | -$119.2M | -$4.5M | -$16.8M | -$2.8M | $115.2M | -$47.9M | -$16.1M | -$44.0K | — |
| Financing cash flow | $75.2M | $111.3M | $236.0K | $41.5M | $242.7M | $303.0K | $76.9M | $11.0M | $64.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001720580-26-000042.
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