Business Description
Adicet Bio, Inc. is a clinical-stage biotechnology company focused on discovering and developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. Headquartered in Boston, Massachusetts, the company engineers "off-the-shelf" cell therapies with chimeric antigen receptors (CARs) to facilitate durable immune responses. Its distinctive approach leverages gamma delta T cells to target specific disease indications without requiring patient-specific cell harvesting.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total Revenues | — | — | — | 24,990 |
| Gross Profit | — | — | — | 24,990 |
| Selling, General & Administrative Expenses | 22,987 | 28,292 | 26,533 | 26,295 |
| Research & Development Expenses | 99,127 | 99,323 | 106,043 | 71,246 |
| Other Operating Expenses | — | — | 19,462 | — |
| Operating Profit | (122,114) | (127,615) | (152,038) | (72,551) |
| Interest and Investment Income | 5,777 | 10,714 | 9,978 | 3,760 |
| Interest Expense | (36) | (4) | (25) | (80) |
| Non-Operating Income | (430) | (217) | (573) | (919) |
| Total Non-Operating Income | 5,311 | 10,493 | 9,380 | 2,761 |
| Income Before Provision for Income Taxes | (116,803) | (117,122) | (142,658) | (69,790) |
| Consolidated Net Income | (116,803) | (117,122) | (142,658) | (69,790) |
| Net Income Attributable to Common Shareholders | (116,803) | (117,122) | (142,658) | (69,790) |
| Basic EPS | -16.95 | -21.33 | -52.96 | -27.20 |
| Diluted EPS | -16.95 | -21.33 | -52.96 | -27.20 |
| Basic Weighted Average Shares Outstanding | 6,891 | 5,492 | 2,690 | 2,568 |
| Diluted Weighted Average Shares Outstanding | 6,891 | 5,492 | 2,690 | 2,568 |
| Shares Outstanding | 9,587 | 5,161 | 2,704 | 2,685 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 38,918 | 56,495 | 159,711 | 257,656 |
| Short-Term Investments | 119,612 | 119,808 | — | — |
| Total Cash and Cash Equivalents | 158,530 | 176,303 | 159,711 | 257,656 |
| Other Current Assets | 2,396 | 3,833 | 2,561 | 3,382 |
| Total Current Assets | 160,926 | 180,136 | 162,272 | 261,038 |
| Net Property, Plant & Equipment | 28,481 | 36,752 | 44,201 | 48,979 |
| Goodwill | — | — | — | 19,462 |
| Other Long-Term Assets | 2,948 | 3,331 | 822 | 1,211 |
| Total Assets | 192,355 | 220,219 | 207,295 | 330,690 |
| Accounts Payable | 4,739 | 4,830 | 2,625 | 4,404 |
| Accrued Expenses | 13,606 | 11,430 | 13,441 | 12,811 |
| Current Portion of Leases | 3,186 | 3,132 | 3,221 | 2,492 |
| Total Current Liabilities | 21,531 | 19,392 | 19,287 | 19,707 |
| Leases | 11,552 | 14,102 | 17,703 | 18,531 |
| Other Long-Term Liabilities | 62 | 116 | 130 | 114 |
| Total Long-Term Liabilities | 11,614 | 14,218 | 17,833 | 18,645 |
| Total Liabilities | 33,145 | 33,610 | 37,120 | 38,352 |
| Common Stock | 10 | 5 | 4 | 4 |
| Additional Paid-in Capital | 773,795 | 684,482 | 550,943 | 530,448 |
| Accumulated Other Comprehensive Income | 102 | 16 | — | — |
| Retained Earnings | (614,697) | (497,894) | (380,772) | (238,114) |
| Total Common Shareholders' Equity | 159,210 | 186,609 | 170,175 | 292,338 |
| Total Shareholders' Equity | 159,210 | 186,609 | 170,175 | 292,338 |
| Total Liabilities and Shareholders' Equity | 192,355 | 220,219 | 207,295 | 330,690 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | (116,803) | (117,122) | (142,658) | (69,790) |
| Depreciation & Amortization | 6,381 | 6,468 | 6,098 | 2,575 |
| Share-Based Compensation Expense | 14,267 | 22,233 | 20,259 | 17,126 |
| Other Adjustments | (564) | 1,568 | 22,332 | 2,580 |
| Changes in Accounts Payable | 1,029 | 1,106 | (1,683) | 1,710 |
| Changes in Accrued Expenses | 1,904 | (2,022) | 750 | 5,831 |
| Changes in Unearned Revenue | — | — | — | (4,805) |
| Changes in Other Operating Activities | (1,460) | (4,609) | 1,185 | 8 |
| Cash from Operating Activities | (95,246) | (92,378) | (93,717) | (44,765) |
| Capital Expenditure | (1,738) | (1,118) | (4,464) | (16,782) |
| Purchases of Investments | (140,869) | (129,124) | — | — |
| Proceeds from Sale of Investments | 145,000 | 11,000 | — | — |
| Cash from Investing Activities | 2,393 | (119,242) | (4,464) | (16,782) |
| Issuance of Common Shares | 75,499 | 111,448 | 386 | 45,107 |
| Repurchases of Common Shares | (104) | (141) | (150) | (3,234) |
| Net Issuance / (Repurchases) of Common Shares | 75,395 | 111,307 | 236 | 41,873 |
| Other Financing Activities | (150) | — | — | (364) |
| Cash from Financing Activities | 75,245 | 111,307 | 236 | 41,509 |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | (17,608) | (100,313) | (97,945) | (20,038) |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $81M |
| P/E | -0.50x |
| EV/EBITDA | 0.54x |
| Return on Equity | -67.6% |
| Return on Invested Capital | -313.8% |
| Current Ratio | 7.47x |
Margins
Gross margin
—
Operating margin
—
Net margin
—
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q2 2026 | — | — | — | $-22M |
| Q1 2026 | — | — | — | $-22M |
| Q4 2025 | — | — | — | $-32M |
| Q3 2025 | — | — | — | $-28M |
| Q2 2025 | — | — | — | $-32M |
| Q1 2025 | — | — | — | $-30M |
| Q4 2024 | — | — | — | $-31M |
| Q3 2024 | — | — | — | $-33M |
More on Adicet Bio, Inc.
Figures compiled from public company filings.
See how Top Bucket AI works for your firm
Request DemoTop Bucket AI Research
Stay ahead of private markets
Research and market intelligence for private-markets professionals.
✓
You're subscribed.
Thanks for signing up.