Market Snapshot

S&P Futures
Dow Futures
NASDAQ Futures

Why is Adaptimmune Therapeutics plc (ADAP) stock soaring today?

Related Topics

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

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.

Leave a Comment

Your email address will not be published. Required fields are marked *

Latest Posts

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam