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Why Adicet Bio Stock Is Skyrocketing Today

What happened

Shares of Adicet Bio (NASDAQ: ACET) were skyrocketing 35.7% as of 11:49 a.m. ET on Monday. This huge gain came after the company announced positive interim data from its phase 1 study evaluating investigational drug ADI-001 in treating B-cell non-Hodgkin's lymphoma.

So what

Were Adicet's phase 1 results really good enough to justify the big move for the biotech stock today? Yep.

Granted, there were only six patients in the study. Two of them weren't able to be evaluated because they didn't reach the day 28 assessment. But three of the four patients who were able to be evaluated achieved responses. Two patients had complete responses, with another patient experiencing what investigators called a "near-complete response."

Image source: Getty Images.

The safety profile of ADI-001 also looked encouraging. There were no reports of serious adverse events related to the therapy. That's important considering that current treatments for B-cell malignancies often cause serious side effects including dose-limiting toxicities, graft-versus-host disease (GvHD), immune effector cell-associated neurotoxicity syndrome (ICANS), or cytokine release syndrome (CRS).

These were only early results, but the potential for ADI-001 appears to be quite promising. The preliminary safety and efficacy results for the therapy could translate to the possibility of it having a "broad therapeutic window," according to Adicet's chief medical officer, Francesco Galimi.

Now what

CEO Chen Schor said that the company expects to report additional data for ADI-001 in the first half of 2022. If the future results are as positive as the company's interim data from its phase 1 study, the stock should have a lot more room to run.

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Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.


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