$ACET

Adicet Bio, Inc.

CIK:0001720580|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 18,450	$ 28,424	$ 35,938	$ 51,238
General and administrative	3,851	3,968	7,933	11,039
Total operating expenses	22,301	32,392	43,871	62,277
Loss from operations	(22,301)	(32,392)	(43,871)	(62,277)
Interest income	1,168	1,398	2,510	3,081
Interest expense	(22)	0	(45)	0
Other expense, net	(60)	(223)	(53)	(235)
Loss before income tax provision	(21,215)	(31,217)	(41,459)	(59,431)
Income tax provision	(143)	0	(143)	0
Segment net loss	$ (21,358)	$ (31,217)	$ (41,602)	$ (59,431)
Net loss per share, basic	$ (1.99)	$ (5.48)	$ (3.87)	$ (10.4)
Net loss per share, diluted	$ (1.99)	$ (5.48)	$ (3.87)	$ (10.4)
Weighted-average common shares used in computing net loss per share, basic	10,745,553	5,692,816	10,748,058	5,713,182
Weighted-average common shares used in computing net loss per share, diluted	10,745,553	5,692,816	10,748,058	5,713,182
Other comprehensive income
Unrealized gain on treasury securities, net of tax	$ (68)	$ (32)	$ (207)	$ (57)
Total other comprehensive income	(68)	(32)	(207)	(57)
Comprehensive loss	$ (21,426)	$ (31,249)	$ (41,809)	$ (59,488)

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (41,602)	$ (59,431)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	2,541	3,335
Noncash lease expense	1,498	1,673
Stock-based compensation expense	2,744	6,088
Loss on disposal of property and equipment	0	103
Net amortization of premiums and accretion discounts on investments	(1,423)	(2,176)
Amortization of deferred transaction costs	0	15
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(178)	1,109
Other non-current assets	(2)	188
Accounts payable	(1,136)	(491)
Operating lease liability	(1,860)	(1,875)
Accrued and other current and non-current liabilities	(1,895)	(568)
Net cash used in operating activities	(41,313)	(52,030)
Cash flows from investing activities
Purchases of short-term treasury securities	(44,231)	(34,369)
Maturities of short term treasury securities	80,000	66,000
Purchases of property and equipment	(239)	(1,539)
Net cash provided by investing activities	35,530	30,092
Cash flows from financing activities
Proceeds from exercise of stock options	1	0
Proceeds from Employee Stock Purchase Plan	82	267
Pre-funded warrant issuance costs	(22)	0
Taxes withheld and paid related to net share settlement of equity awards	(68)	(104)
Net cash used in financing activities	(7)	163
Net change in cash, cash equivalents and restricted cash	(5,790)	(21,775)
Cash, cash equivalents and restricted cash at the beginning of period	41,790	59,398
Cash, cash equivalents and restricted cash at the end of period	36,000	37,623
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets:
Cash and cash equivalents	33,131	34,720
Restricted cash	2,869	2,903
Cash, cash equivalents and restricted cash in consolidated balance sheets	36,000	37,623
Supplemental disclosures of noncash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued expenses	7	379
Remeasurement of finance lease resulting in a reduction of ROU asset	$ 25	$ 0

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 33,131	$ 38,918
Short-term investments in treasury securities	85,059	119,612
Prepaid expenses and other current assets	2,573	2,396
Total current assets	120,763	160,926
Finance lease right-of-use asset	888	1,022
Restricted cash	2,869	2,872
Property and equipment, net	14,028	16,532
Operating lease right-of-use asset	9,538	10,927
Other non-current assets	80	76
Total assets	148,166	192,355
Current liabilities:
Accounts payable	3,592	4,739
Accrued and other current liabilities	11,582	13,606
Operating lease liability	2,655	2,837
Finance lease liability	172	349
Total current liabilities	18,001	21,531
Operating lease liability, net of current portion	9,401	10,910
Finance lease liability, net of current portion	626	642
Other non-current liabilities	0	62
Total liabilities	28,028	33,145
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; none issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	0	0
Common stock, $0.0001 par value, 300,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; 9,361,371 and 9,586,770 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	1	10
Additional paid-in capital	776,541	773,795
Accumulated deficit	(656,299)	(614,697)
Accumulated other comprehensive (loss) income	(105)	102
Total stockholders’ equity	120,138	159,210
Total liabilities and stockholders’ equity	$ 148,166	$ 192,355