Adicet Bio Shares Rise 4% on FDA Clearance of IND Application for ADI-270

By Denny Jacob

Adicet Bio shares rose 4% after its investigational new drug application for ADI-270 was cleared by the U.S. Food and Drug Administration.

Shares were trading around $1.43. The stock is down 25% on the year.

The clinical stage biotechnology company's ADI-270 is a cell therapy candidate targeting CD70+ cancers for the treatment of relapsed/refractory renal cell carcinoma. It plans to initiate a Phase 1 clinical trial to assess the safety and anti-tumor activity of the treatment in renal cell carcinoma patients in the second half of the year.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

06-24-24 1054ET