InvestMacro

The biopharma behind the investigational treatment plans to advance it into a potentially pivotal clinical program next year, noted a BTIG report.

Adicet Bio Inc. (ACET:NASDAQ) presented “encouraging” data from its ongoing Phase 1 trial evaluating the company’s lead therapeutic ADI-001, its chimeric antigen receptor (CAR) T-cell therapy, in large B-cell lymphoma, reported BTIG analyst Justin Zelin in a Dec. 12 research note. The data update took place at the American Society of Hematology’s annual meeting on Dec. 10 to 13.

The study showed Adicet’s anti-CD20, allogeneic, gamma delta CAR T-cell therapy to have a six-month complete response rate that is comparable to that of autologous CAR-T therapy as well as key safety advantages, Zelin highlighted.

“An off-the-shelf, allogeneic therapy with [a] differentiated and well-tolerated safety profile carries a strong value proposition in this setting,” Zelin commented.

Next Steps and Possible Catalysts

Massachusetts-based Adicet will continue enrolling patients in the study to gain further insights into durability and the recommended Phase 2 dose selection, noted Zelin. The likely choices are two infusions of DL3 (300 million cells) with one lymphodepletion or one dose of DL4 (1 billion cells).

“We look forward to clinical and regulatory updates from the company next year,” wrote Zelin.

Also, in about Q2/23, Adicet plans to move ADI-001 into a potentially pivotal clinical program, Zelin noted.

This would include two studies, one in post-CAR-T large B cell lymphoma patients and the other in earlier-line large B cell lymphoma patients. Discussions are planned with the U.S. Food and Drug Administration and the European Medicines Agency about the regulatory path forward for this program.

“We look forward to clinical and regulatory updates from the company next year,” wrote Zelin.

Positive Efficacy and Safety

The updated Phase 1 data indicated a potential efficacy signal for ADI-001 in post-CAR-T large B cell lymphoma patients, Zelin wrote. At all ADI-001 dose levels, patients showed a 75% overall response rate and a 69% complete response rate. Five patients, who previously relapsed on anti-CD19 autologous CAR-T therapy, had 100% overall response and complete response rates.

Zelin relayed that Dr. Sattva Neelapu, in the Department of Lymphoma-Myeloma at the MD Anderson Cancer Center, “expressed his excitement of the complete response rate in heavily pretreated patients with few alternative treatment options (estimated median progression-free survival is about two months), especially in post-CAR-T large B cell lymphoma patients. Dr. Neelapu notes a roughly 30% duration of response at six months would be viewed favorably.”

BTIG has a Buy rating and a US$34 per share price target on Adicet, which is currently trading at about US$19.88 per share.

In terms of safety, at the DL3+ dose (DL3: 300 million CAR+ cells; DL4: 1 billion CAR+ cells), at which the complete response rate was 86%, there were no grade 3 or higher side effects, including cytokine release syndrome, immune effector cell associated neurotoxicity, graft versus host disease or dose-limiting toxicities. Infections were minimal despite enhanced lymphodepletion being employed.

The “ability to safely redose with a single lymphodepletion regimen supports outpatient-community dosing as key advantages for Adicet’s allogeneic cell therapy,” Zelin added.

BTIG has a Buy rating and a US$34 per share price target on Adicet, which is currently trading at about US$19.88 per share.

Disclosures:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

BTIG Research, Adicet Bio Inc., December 12, 2022

Analyst Certification: I, Justin Zelin, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.

I, Vishal Sethi, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.

General Disclosures: Research reports produced by BTIG LLC (“BTIG”) are published for and intended to be distributed solely to BTIG institutional and corporate clients. Recipients of BTIG reports will not be considered clients of BTIG solely because they may have received such BTIG report.

To the extent recipient accesses BTIG research, whether on a BTIG research website or through a third-party platform, BTIG is able to search, filter, download and review information on the readership of BTIG’s research, including the specific research consumed and the name, company name, email address and, in certain circumstances, the location of the individual who accessed the research (the “Readership Information”). Recipient consents to BTIG’s receipt of the Readership Information, including receipt of that information from a third party.

The research analyst(s) responsible for the preparation of this report receives compensation based upon a variety of factors, including the quality and accuracy of research, internal/client feedback, and overall Firm revenues. BTIG reports are based on public information and BTIG considers the same to be reliable, comprehensive information, but makes no representation or warranty that the reports are accurate or complete. BTIG opinions and information provided in this report are as of the date of the report and may change without notice. An issuer may be classified as “Under Review” or “Research Restricted”. In these cases, investors should consider any previous investment recommendation and/or rating to a subject company/issuer to no longer be current and should not be relied upon nor considered a solicitation.

This research report is not an offer to buy or sell or solicitation of an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal. This research report was not drafted specifically for any particular individual or entity and is not a personal recommendation to participate in any particular trading strategy or transaction. Any recipient of this research report should obtain independent advice specific to their personal circumstances before undertaking any investment activity and must make their own independent evaluation of any securities or financial instruments.

Facts, views or opinions presented in this report have not been reviewed by, and may not reflect information known to, employees or other professionals in the “BTIG Group” (BTIG Group includes, but is not limited to, BTIG and its parents, subsidiaries and/ or affiliates). BTIG Group employees, including Sales Representatives and Traders, may provide oral or written commentary or advice that may be inconsistent with the opinions and/or views expressed in this research report. BTIG Group employees and/or its affiliates not involved in the preparation of this research report may have investments in securities or derivatives of securities of companies mentioned in this report that are inconsistent with the views discussed in this report.

Investors in securities products bear certain risks in conjunction with those investments. The value of, and income from, any investments may vary because of changes in interest rates or foreign exchange rates, securities prices or market indexes, operational or financial conditions of companies or other factors within or beyond the companies’ control. Recipient of the research reports should be aware that investments in securities may pose significant risks due to the inherent uncertainty associated with relying on forecasts of various factors that can affect the earnings, cash flow and overall valuation of a company.

Any investment in securities should be undertaken only upon consideration of issues relating to the recipient’s overall investment portfolio and objectives (such as diversification by asset class, industry or company) as well as time horizon and liquidity needs. Further, past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. There may be time limitations on the exercise of options or other rights in any securities transactions.

Investing in foreign markets and securities, including ADRs, is subject to additional risks such as currency fluctuation, limited information, political instability, economic risk, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks. Non-U.S. reporting issuers of foreign securities, however, may not make regular or complete public disclosure relating to their financial condition or the securities that they issue.

The trademarks and service marks contained herein are the property of their respective owners. Third-party data providers make no warranties or representations of any kind relating to the accuracy, completeness, or timeliness of the data they provide and shall not have liability of any damages of any kind relating to such data. The report or any portion hereof may not be reprinted, sold or redistributed without the written consent of BTIG. This report is intended only for use by the recipient. The recipient acknowledges that all research and analysis in this report are the property of BTIG and agrees to limit the use of all publications received from BTIG within his, or her or its, own company or organization. No rights are given for passing on, transmitting, re transmitting or reselling the information provided.

Jurisdiction and Dissemination: BTIG is a U.S. broker-dealer and member of FINRA and SIPC

Source: Adrian Day  (12/19/22)

Today, expert Adrian Day gives updates on developments affecting several of his favorite companies, mostly positive but with one potentially damaging piece of news.

By JustMarkets

The US stock market fell on Monday for the fourth straight session as investors fear that the Federal Reserve’s campaign to tighten monetary policy could push the US economy into recession. This sentiment is creating downward pressure on major indices. At the stock market’s close, Dow Jones (US30) decreased by 0.49%, while S&P 500 (US500) fell by 0.90%. The Technology Index NASDAQ (US100) was down by 1.49% on Monday. All three indices closed the day lower.

Stock markets in Europe mostly rose yesterday. German DAX (DE30) gained 0.36%, French CAC 40 (FR40) added 0.32%, Spanish IBEX 35 (ES35) increased by 0.30%, and British FTSE 100 (UK100) closed on Monday plus 0.40%.

Germany may avoid a recession this winter. The fiscal stimulus packages implemented by the government have prevented the economy from falling off a cliff. But at the same time, the cold winter of the last few days has shown how quickly the nation’s replenished gas reserves could disappear again. Today, many official forecasts suggest that the German economy will return to its average quarterly growth rate by mid-2023.

Oil prices rose Monday as optimism over China’s easing COVID-19 restrictions outweighed fears of a global recession affecting energy demand. Oil also received support from the US Department of Energy, which said Friday it would begin buying crude for the Strategic Petroleum Reserve.

European Union energy ministers on Monday agreed to limit gas prices as the EU aims to tackle the energy crisis. The restriction could be imposed starting February 15, 2023. Germany voted to support the deal despite expressing concerns about the policy’s impact on Europe’s ability to attract gas supplies. Ministers agreed to impose a cap if prices exceed 180 euros per megawatt hour for three days on the contract for the coming month with the Dutch gas transmission center (TTF), which serves as the European benchmark. The Intercontinental Exchange ICE, which trades the TTF on its exchange in Amsterdam, said last week that it might move TTF trading outside the EU if the bloc caps prices.

Asian markets were mostly down yesterday. Japan’s Nikkei 225 (JP225) decreased by 1.05%, China’s FTSE China A50 (CHA50) fell by 0.33%, Hong Kong’s Hang Seng (HK50) ended the day down by 0.50%, India’s NIFTY 50 (IND50) rose by 0.83%, and Australia’s S&P/ASX 200 (AU200) ended Monday in minus 0.18%.

The Bank of Japan shocked markets Tuesday by doubling the 10-year bond yield cap, causing the yen to spike and government bonds to fall, helping pave the way for a possible policy normalization. The Bank of Japan will now allow Japan’s 10-year bond yield to rise to about 0.5%, up from the previous limit of 0.25%. The Central Bank said the move would enhance the sustainability of its monetary easing, but many economists interpreted the move as laying a preliminary foundation for an exit from a decade of extraordinary stimulus policies.

In Australia, the minutes of the November monetary policy meeting showed that the Australian economy continues to grow steadily. However, economic growth is expected to slow next year. The council expects further interest rate increases in the coming period. The size and timing of future interest rate increases will continue to be determined by incoming data and the Board’s assessment of inflation and labor market prospects.

S&P 500 (F) (US500) 3,817.66 −34.70 (−0.90%)

Dow Jones (US30) 32,757.54 −162.92 (−0.49%)

DAX (DE40) 13,942.87 +49.80 (+0.36%)

FTSE 100 (UK100) 7,361.31 +29.19 (+0.40%)

USD Index 104.35 -0.45 (-0.43%)

• – Australia RBA Meeting Minutes (m/m) at 02:30 (GMT+2);
• – China PBoC Loan Prime Rate at 03:15 (GMT+2);
• – Japan BoJ Interest Rate Decision at 05:00 (GMT+2);
• – Japan BoJ Monetary Policy Statement at 05:00 (GMT+2);
• – Japan BoJ Press Conference at 05:00 (GMT+2);
• – US Building Permits (m/m) at 15:30 (GMT+2);
• – Canada Retail Sales (m/m) at 15:30 (GMT+2).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.