H.C. Wainwright Reiterates Neutral Rating on Adicet Bio Inc. (ACET)

H.C. Wainwright analyst Edward White reiterated a Neutral rating on Adicet Bio Inc. (NASDAQ: ACET).

The analyst commented: "Adicet announced on September 30 that enrollment has opened for patients with lupus nephritis (LN) in its Phase 1 trial of ADI-001 in autoimmune diseases, including LN, systemic lupus erythematosus (SLE), systemic sclerosis (SSc), and anti-neutrophil cytoplasmic autoantibody associated vasculitis (AAV). ADI-001 is Adicet’s allogeneic (off-the-shelf) gamma delta T cell product candidate containing an anti-CD20 CAR. On June 5, 2024, Adicet reported that the FDA granted Fast Track Designation to ADI-001 for the potential treatment of r/r class III or class IV LN. The Phase 1 study in autoimmune diseases has an LN/SLE arm, an SSc arm, and an AAV arm. The study’s primary endpoints include incidence of treatment-emergent adverse events, including severity, seriousness and relatedness, and incidence of dose-limiting toxicities at each dose in Part 1. Secondary and exploratory endpoints include measuring cellular kinetics, pharmacodynamics, changes in autoantibody titers, and appropriate disease activity scores in each indication. Patients in the trial will receive a single dose of ADI-001. The company anticipates enrollment of SLE, SSC, and AAV patients to open in 4Q24. It plans to report preliminary clinical data for all autoimmune indications included in the trial in 1H25. We believe the B-cell depletion observed with ADI-001 in relapsed or refractory (r/r) non-Hodgkin’s lymphoma (NHL) patients in the company’s Phase 1 GLEAN study bodes well for development in autoimmune diseases. We plan to reevaluate our rating and price target upon seeing clinical data in autoimmune indications and once we see a clear path forward and development timeline for ADI-001 in autoimmune diseases. Maintain Neutral rating."

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 $1.45 yesterday.

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