Adicet (ACET) Bio lupus trial data promising, says Citizens JMP

Citizens analyst Reni Benjamin reiterated a Market Perform rating on Adicet Bio Inc. (NASDAQ: ACET).

The analyst commented, "We maintain our Market Perform rating on Adicet. Yesterday, Adicet reported preliminary data on ADI-001 in lupus nephritis (LN) and systemic lupus erythematosus (SLE) highlighting promising efficacy and safety results in seven patients. In our opinion, the initial 60% of patients achieving a complete renal response (CRR), along with 100% of patients demonstrating rapid reductions in SLEDAI-2K and PGA scores, showcase efficacy that is largely in line with other cell therapy players in the autoimmune disease space. That said, the safety profile appears quite differentiated from other players, potentially giving ADI-001 an edge in the competitive landscape. With promising preliminary data in LN/SLE and with a pro forma cash position of $205MM, we remain on the sidelines pending longer follow-up and a greater number of patients in order to re-evaluate our valuation methodology."

For an analyst ratings summary and ratings history on Adicet Bio Inc. click here. For more ratings news on Adicet Bio Inc. click here.

Shares of Adicet Bio Inc. closed at $0.85 yesterday.

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