Adicet Bio, Inc. Determines Not to Proceed with Public Offering of Common Stock
23 Settembre 2020 - 4:41AM
Adicet Bio, Inc. (Nasdaq: ACET), a biotechnology company
discovering and developing allogeneic gamma delta T cell therapies
for cancer and other diseases, announced today that it has
determined not to proceed with its proposed public offering of
4,500,000 shares of its common stock previously announced on
September 21, 2020. The Company believes that current market
conditions are not conducive to an offering on terms that would be
in the best interests of its current stockholders.
“We are well capitalized into 2022 and expect to meet multiple
near-term milestones,” said Chen Schor, President and Chief
Executive Officer of Adicet Bio, Inc. “Given our solid
financial position and outlook, we look forward to advancing our
gamma delta T cell platform and programs.”
Adicet anticipates the following near-term milestones:
- File IND for ADI-001 CD20 gamma
delta CAR-T
- Phase 1 clinical study of ADI-001 in
non-Hodgkin’s lymphoma
- ADI-001 expansion in diffuse large
B-cell lymphoma and/or mantle cell lymphoma
- File IND for ADI-002 GPC3
gamma-delta CAR-T
- Initiate Phase 1 clinical study in
hepatocellular carcinoma and other solid tumors
The offering was being made pursuant to an effective shelf
registration statement that was declared effective by the U.S.
Securities and Exchange Commission (SEC) on February 12, 2019.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Adicet
Adicet Bio, Inc. is a biotechnology company discovering and
developing allogeneic gamma delta T cell therapies for cancer and
other diseases. Adicet is advancing a pipeline of “off-the-shelf”
gamma delta T cells, engineered with chimeric antigen receptors and
T cell receptor-like antibodies to enhance selective tumor
targeting, facilitate innate and adaptive anti-tumor immune
response, and improve persistence for durable activity in
patients.
Forward-Looking Statements
This press release contains "forward-looking statements" of
Adicet within the meaning of the Private Securities Litigation
Reform Act of 1995. Any forward-looking statements in this press
release are based on management’s current expectations and beliefs
of future events, and are subject to a number of risks and
uncertainties that could cause actual results to differ materially
and adversely from those set forth in or implied by such
forward-looking statements. These risks and uncertainties related
to market conditions as well as risks and uncertainties inherent in
Adicet’s business. For a discussion of these and other risks and
uncertainties, and other important factors, any of which could
cause Adicet’s actual results to differ from those contained in the
forward-looking statements, see the section entitled “Risk Factors”
in Adicet’s most recent annual report on Form 10-K filed on March
12, 2020 and our period reports on Form 10-Q and Form 8-K filed
with the SEC, as well as discussions of potential risks,
uncertainties, and other important factors in Adicet’s other
filings with the SEC, including those contained or
incorporated by reference in the preliminary prospectus supplement
related to the proposed public offering. All information in this
press release is as of the date of the release, and Adicet
undertakes no duty to update this information unless required by
law.
Adicet Bio,
Inc.Investor and Media ContactsAnne
Bowdidgeabowdidge@adicetbio.com
Janhavi MohiteStern Investor Relations,
Inc.212-362-1200janhavi.mohite@sternir.com
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