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Benzinga
Benzinga
Business
Vandana Singh

Adicet Bio's Lupus Trial Delivers 100% Response, Setting Stage For Phase 2

Lupus biotechnology FDA
Genetic,Research,And,Biotech,Science,Concept.,Human,Biology,And,Pharmaceutical

Adicet Bio Inc. (NASDAQ:ACET) shares fell Tuesday after the biotechnology company priced an $80 million direct offering, even as early safety and efficacy data from its Phase 1 trial of ADI-001 in autoimmune diseases showed encouraging signs.

The company priced a registered direct offering of 70 million shares and pre-funded warrants to purchase 10 million shares at $1.00 per share and $0.9999 per warrant, respectively, for expected gross proceeds of approximately $80 million.

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