Adaptimmune Therapeutics plc (ADAP) stock soared today following the announcement of Strategic Collaboration with Genentech. ADAP stock price saw a surge of 15.90% to reach $5.73 a share at the time of this writing. The stock in the previous trade closed with a $4.94 per share price with no loss or gain. Let’s dig in to explore more of it.
What’s Happening?
Adaptimmune Therapeutics plc is the clinical-stage biopharmaceutical stock that provides novel cell therapies to patients suffering from a tumor. The stock today signed a strategic collaboration and license agreement with Genentech, a member of the Roche Group. The purpose of this agreement is to develop and commercialize allogeneic cell treatments to treat multiple oncology diseases.
The collaboration consists of two components.
- To develop allogeneic T-cell therapies for up to five shared cancer targets
- To develop personalized allogeneic T-cell therapies.
ADAP stock will develop clinical candidates via the use of a pluripotent stem cell (iPSC) derived allogeneic platform to produce T-cells. Genentech will take care of the input TCRs along with subsequent clinical development and commercialization.
The upfront payment which ADAP stock will receive is $150 million along with a $150 million additional payment over five years. Furthermore, ADAP stock is eligible to receive more than $3 billion in payments related to research, development, and regulatory purposes.
ADAP stock delivers data on Liver Cancer Candidate:
Yesterday, ADAP stock did announce updated data from its phase I study on ADP-A2AFP for patients suffering from liver cancer at the International Liver Cancer Association. The purpose of the study is to evaluate the anti-tumor activity and safety of ADP-A2AFP in patients with AFP-expressing tumors or liver cancer.
The disease control rate was 64% for patients having at least one scan. Two patients had stable diseases that lasted more than 16 weeks. The safety profile was acceptable and no significant T-cell-related hepatotoxicity had been reported.
Financial View of ADAP stock:
ADAP stock generated $3.1 million and $3.5 million in revenue for the three and six months of 2021 respectively. Research and development expenses were $28.9 million and $53.4 million for the three and six months of 2021. The stock reported a net loss of $39.1 million and $76.8 million respectively for three and six months periods of 2021.
Wrap Up:
Investors are responding positively to the recent announcement by the ADAP stock today. The stock has gained 70.14% in the last 30 days and 19.80% in the last six months.
