Return of Adaptimmune assets complements TCR pipeline, says Guggenheim

Guggenheim analyst Michael Schmidt maintains a Buy rating on Adaptimmune (ADAP) after the company announced that it has agreed on the terms for transferring GSK‘s (GSK) autologous TCR T cell therapies targeting PRAME and NY-ESO back to the company in Q3. The return of the funded assets complements Adaptimmune’s TCR pipeline following the recent acquisition of TCR2 (TCRR) and adds "free" optionality, the analyst tells investors in a research note.