Adicet Bio
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Adicet Bio (ACET) investor relations material

Adicet Bio Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Mar, 2026

Executive summary

  • Strong enrollment momentum in Phase 1 autoimmune program for prula-cel, with clinical updates expected in 1H and 2H 2026.

  • Achieved FDA alignment for outpatient dosing of prula-cel in lupus nephritis (LN) and systemic lupus erythematosus (SLE) patients.

  • Regulatory filing for ADI-212 in metastatic castration-resistant prostate cancer (mCRPC) planned for 3Q 2026, with enrollment to begin 4Q 2026 pending clearance.

Financial highlights

  • R&D expenses for Q4 2025 were $25.0M, up from $23.3M in Q4 2024, mainly due to higher CRO/CDMO costs.

  • G&A expenses for Q4 2025 were $6.9M, down from $7.5M in Q4 2024, due to lower rent and office expenses.

  • Net loss for Q4 2025 was $30.5M ($2.94/share), compared to $28.7M ($5.06/share) in Q4 2024.

  • Full-year 2025 net loss was $116.8M ($16.95/share), slightly improved from $117.1M ($21.33/share) in 2024.

  • Cash, cash equivalents, and short-term investments were $158.5M as of Dec 31, 2025, down from $176.3M a year earlier.

Outlook and guidance

  • Clinical update for prula-cel in LN, SLE, and SSc expected in 1H 2026, with another update in 2H 2026.

  • Pivotal study for prula-cel in LN or LN/SLE patients planned for 2H 2026, pending regulatory clearance.

  • Regulatory filing for ADI-212 in mCRPC planned for 3Q 2026; Phase 1 enrollment to begin 4Q 2026.

  • Cash runway expected to fund operations into the second half of 2027.

Outpatient dosing impact on pivotal trial design
MED12 disruption impact on ADI-212 potency
RA trial lymphodepletion regimen comparison
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