Adicet Bio (ACET) Q2 2026 earnings summary

Executive summary

• Focused on developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer, with lead candidate prula-cel advancing in Phase 1 trials for multiple autoimmune indications and ADI-212 targeting prostate cancer entering clinical development in late 2026.

• Positive preliminary results for prula-cel in lupus nephritis and SLE; pivotal trial in LN expected to start in H2 2026, with additional updates on SSc and RA trials anticipated.

• Phase 1 clinical update for prula-cel in LN and SLE expected in Q3 2026, with data from 22 patients and extended follow-up for 13 patients.

• Regulatory filing for ADI-212 in mCRPC anticipated in Q3 2026, with Phase 1 enrollment expected in Q4 2026.

• Interim Chief Medical Officer appointed following leadership transition.

Financial highlights

• Cash, cash equivalents, and short-term investments totaled $118.2 million as of June 30, 2026, expected to fund operations into the second half of 2027.

• Net loss for Q2 2026 was $21.4 million, or $1.99 per share, a 32% improvement year-over-year.

• Research and development expenses were $18.5 million for Q2 2026, including $0.9 million in non-cash stock-based compensation.

• General and administrative expenses were $3.9 million for Q2 2026, with $0.6 million in non-cash stock-based compensation.

• Working capital was $102.8 million as of June 30, 2026.

Outlook and guidance

• Cash runway expected through at least the second half of 2027; additional capital will be needed for future development and commercialization.

• Topline results for prula-cel Phase 1 in LN/SLE anticipated in Q3 2026, with pivotal trial initiation in H2 2026.

• Regulatory submission for ADI-212 in mCRPC expected in Q3 2026, with Phase 1 enrollment in Q4 2026.

• Plans to submit a new IND or equivalent regulatory submission every 12-18 months.

• Comprehensive update on in vivo CAR-T platform and pipeline expected in 2H 2026.