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> Adicet Bio Adicet Reports Second Quarter 2021 Financial Results and Provides Business Updates August 12 , 2021 • On track to report top - line interim data from ADI - 001 Phase 1 study in Non - Hodgkin's Lymphoma ( NHL ) by the end of 2021 MENLO PARK , Calif . and BOSTON , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) -- Adicet Bio , Inc. ( Nasdaq : ACET ) , a biotechnology company discovering and developing first - in - class allogeneic gamma delta T cell therapies for cancer and other diseases , today reported operational highlights and financial results for the second quarter ended June 30 , 2021 . " Adicet continues to build momentum over the second quarter , following the initiation of our Phase 1 trial of our lead asset ADI - 001 in non - Hodgkin's lymphoma and the completion of a successful capital raise earlier this year . We believe we are in a strong position to execute on key upcoming milestones , including the first interim data readout for ADI - 001 , the first IND - cleared allogeneic CAR gamma - delta T cell therapy to reach human trials , which remains on track for later this year , " said Chen Schor , President and Chief Executive Officer of Adicet . " On the corporate side , we established our scientific advisory board ( SAB ) , and believe that the strategic counsel from our SAB members will be beneficial in advancing our expanding pipeline of " off - the - shelf " gamma delta T cell therapeutic candidates in solid and hematologic tumors . Additionally , Adicet was added to the Russell 2000Ⓡ Index which reflects the progress we have made since going public in 2020. This important milestone will increase the exposure of Adicet to the broader financial community . " Second Quarter & Recent Business Updates : • Formation of Scientific Advisory Board . In July , Adicet announced the formation of a SAB comprised of renowned scientific leaders in the fields of T cell biology , immunology and oncology . The SAB will support the advancement of the Company's pipeline of " off - the - shelf " gamma delta T cell product candidates . • Addition to Russell 2000® Index . In June , Adicet was added to the Russell 2000Ⓡ Index as part of the 2021 Russell indexes annual reconstitution . Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies . Approximately $ 10.6 trillion in assets are benchmarked against Russell's US indexes . Russell indexes are part of FTSE Russell , a leading global index provider . Financial Results for Second Quarter 2021 : • Research and Development ( R & D ) Expenses : R & D expenses were $ 10.6 million for the three months ended June 30 , 2021 , compared to $ 8.7 million during the same period in 2020. The $ 1.9 million increase is primarily driven by an increase of $ 1.5 million of payroll and personnel expenses due to increases in headcount of employees involved in research and development activities , an increase of $ 0.4 million incurred for contract research organizations and consultant costs due to ramping up of clinical development activities related to our first product candidate , ADI - 001 and an increase of $ 1.2 million in facility and other expenses . These increases were offset by decreases in contract manufacturing organization costs of $ 1.3 million related to ramping up of manufacturing activities in early 2020. Payroll and personnel expenses for the three months ended June 30 , 2021 includes $ 0.8 million of non - cash stock - based compensation expense compared to $ 0.1 million during the same period in 2020 . • General and Administrative ( G & A ) Expenses : G & A expenses were $ 5.0 million for the three months ended June 30 , 2021 , compared to $ 7.4 million during the same period in 2020. The $ 2.4 million decrease is primarily driven by a decrease in professional fees of $ 4.4 million related to legal and audit fees incurred due to our reverse merger in 2020 . These decreases were offset by increases in payroll and personnel expenses of $ 0.6 million , and an increase of $ 1.4 million in facility and other expenses , primarily due to $ 0.8 million of rent expense related to a lease for office and laboratory space in Redwood City , California . The Company expects to complete occupancy of this facility in the second quarter of 2022. Payroll and personnel expenses for the three months ended June 30 , 2021 includes $ 1.8 million of non - cash stock - based compensation expense compared to $ 0.3 million during the same period in 2020 . • Net Loss : Net loss attributable to common shareholders for the three months ended June 30 , 2021 was $ 10.9 million , or a net loss of $ 0.34 per basic and diluted share , including non - cash stock - based compensation expense of $ 2.7 million , as compared to a net loss of $ 8.5 million during the same period in 2020 , or a net loss of $ 3.88 per basic and diluted share , including non - cash stock - based compensation expense of $ 0.4 million . • Cash Position : Cash and cash equivalents and marketable debt securities were $ 208.7 million as of June 30 , 2021 , compared to $ 94.6 million as of December 31 , 2020. The Company expects that current cash , cash equivalents and