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Adaptimmune Therapeutics (ADAP)
NASDAQ:ADAP
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Adaptimmune Therapeutics (ADAP) AI Stock Analysis

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ADAP

Adaptimmune Therapeutics

(NASDAQ:ADAP)

Rating:41Neutral
Price Target:
$0.00
▼(-100.00% Downside)
Adaptimmune Therapeutics' overall stock score is primarily impacted by its weak financial performance and valuation, reflecting significant financial instability and ongoing losses. Technical analysis also indicates bearish momentum. While the earnings call provided some operational positives, recent corporate events, including executive changes and a delisting notice, further contribute to a cautious outlook.
Positive Factors
Future Revenue Potential
Management anticipates full-year 2025 Tecelra revenue of $35-45M, surpassing the previous sellside consensus estimate of $25M.
Operational Success
Management is executing the launch well with high apheresis numbers, opening accounts, fast turnaround time, 100% manufacturing success rate and 100% reimbursement.
Revenue Growth
Tecelra net product revenue for 2Q25 was $11.1M, above consensus estimate and grew ~178% from 1Q25.
Negative Factors
Asset Sale Impact
The sale of key assets leaves the company with preclinical assets that are still in the early stages of development.
Market Concerns
Concerns around loan repayment and a depressed biotech market are impacting the company's outlook.
Workforce Reduction
The company announced plans to reduce its workforce by 62% as well as the departure of several C-suite executives.

Adaptimmune Therapeutics (ADAP) vs. SPDR S&P 500 ETF (SPY)

Adaptimmune Therapeutics Business Overview & Revenue Model

Company DescriptionAdaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States and the United Kingdom. The company's specific peptide enhanced affinity receptor (SPEAR) T-cell platform enables it to identify cancer targets. It is developing ADP-A2M4 that is in phase II clinical trials with SPEARHEAD-1 for synovial sarcoma and myxoid round cell liposarcoma indications (MRCLS); in phase II clinical trials with SPEARHEAD-2 for patients with head and neck cancer; and in phase I clinical trials for urothelial, melanoma, head and neck, ovarian, non-small cell lung, esophageal and gastric, synovial sarcoma, and MRCLS cancers. The company is also developing ADP-A2AFP, which is in phase I clinical trials for hepatocellular carcinoma; and ADP-A2M4CD8, which is in phase I clinical trial for SPEAR T-cells focusing on treating patients with lung, gastroesophageal, head and neck, ovarian, and bladder cancers. It has a collaboration and license agreement with GSK; third party collaborations with Noile-Immune Biotech Inc., Alpine Immune Sciences, Inc., and National Center for Cancer Immune Therapy in Denmark; strategic alliance agreement with the MD Anderson Cancer Center; and co-development and co-commercialization agreement with Universal Cells, Inc. Adaptimmune Therapeutics plc also has a strategic collaboration and license agreement with Genentech, Inc. and F. Hoffman-La Roche Ltd to develop personalized allogeneic T-cell therapies utilizing aß T-cell receptors. Adaptimmune Therapeutics plc was founded in 2008 and is headquartered in Abingdon, the United Kingdom.
How the Company Makes MoneyAdaptimmune Therapeutics generates revenue primarily through partnerships and collaborations with pharmaceutical companies, as well as through grants and funding from governmental and non-governmental organizations. The company may receive milestone payments as it progresses its therapies through clinical trials, and royalties from any future sales of products that arise from its collaborations. Additionally, Adaptimmune may also explore options for licensing its technology to other companies, which can provide further financial inflows. The success of its therapies in clinical trials and subsequent commercialization efforts are critical for its earning potential.

Adaptimmune Therapeutics Earnings Call Summary

Earnings Call Date:Aug 13, 2025
(Q1-2025)
|
% Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Positive
Adaptimmune reported a very successful launch of TECELRA with strong initial sales and effective patient access. The early activation of treatment centers and manufacturing success further support their positive outlook. However, financial challenges remain with doubts about their ability to continue as a going concern.
Q1-2025 Updates
Positive Updates
Strong TECELRA Launch with Revenue Guidance
Adaptimmune reported a successful launch of TECELRA with 21 patients apheresed in 2025, 13 in Q1 and 8 in early Q2. They provided revenue guidance for the full year of $35 million to $45 million in TECELRA sales.
Early Activation of Treatment Centers
Adaptimmune has 28 treatment centers accepting referrals and expects to have a full network of 30 centers by the end of 2025, a year earlier than expected.
100% Manufacturing Success
The TECELRA manufacturing center in Philadelphia reported 100% success with all doses released meeting specifications, and an average turnaround time of 27 days, beating the target of 30 days.
No Patient Denials
Effective patient access to TECELRA with no patient denials reported to date.
Future Growth with lete-cel
Anticipation of lete-cel approval in 2026, which could more than double the addressable patient market within the sarcoma franchise.
Negative Updates
Substantial Doubt About Going Concern
The company reported substantial doubt about its ability to continue as a going concern, indicating less than 12 months of cash available and uncertainty in cash runway guidance.
Company Guidance
In the first quarter of 2025, Adaptimmune reported significant progress in the launch of TECELRA, with 21 patients apheresed to date, including 13 in Q1 and 8 in early Q2. The company provided revenue guidance for the full year, anticipating TECELRA sales of $35 million to $45 million. Adaptimmune reported invoicing 14 TECELRA treatments in 2025, including 6 in Q1, resulting in $4 million in net sales, and 8 additional invoiced treatments early in Q2. The company achieved 100% manufacturing success, with an average turnaround from apheresis to lot release of 27 days, surpassing the 30-day target. Adaptimmune's network includes 28 active treatment centers, with expectations to reach 30 by year-end, a year ahead of schedule. No patient access issues have been reported, with no denials to date. Adaptimmune foresees peak sales of $400 million from its TECELRA and lete-cel sarcoma franchise, with lete-cel launch activities underway, targeting a 2026 approval.

Adaptimmune Therapeutics Financial Statement Overview

Summary
Adaptimmune Therapeutics is facing significant financial challenges, including declining revenues, negative profitability, and a precarious balance sheet. Despite some improvement in free cash flow growth, the company's financial health remains weak, requiring strategic interventions to stabilize and improve its financial position.
Income Statement
30
Negative
Adaptimmune Therapeutics has experienced significant revenue volatility, with a sharp decline in TTM revenue growth of -63.77%. The company maintains a high gross profit margin of 98.06% in TTM, but this is overshadowed by negative net profit margins and EBIT margins, indicating ongoing operational challenges and profitability issues.
Balance Sheet
20
Very Negative
The balance sheet reveals a concerning financial structure with a negative stockholders' equity in TTM, leading to a negative debt-to-equity ratio. The return on equity is also negative, reflecting substantial losses relative to equity. These factors suggest financial instability and potential solvency risks.
Cash Flow
25
Negative
Cash flow analysis shows a significant free cash flow growth of 73.93% in TTM, but the company still faces negative operating cash flow and free cash flow figures. The operating cash flow to net income ratio is negative, indicating cash flow challenges relative to earnings.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue65.08M178.03M60.28M27.15M6.15M3.96M
Gross Profit61.70M177.96M50.42M-100.58M-104.94M-87.61M
EBITDA-149.75M-52.66M-128.20M-155.59M-155.68M-125.81M
Net Income-169.76M-70.81M-113.87M-165.46M-158.09M-130.09M
Balance Sheet
Total Assets130.63M245.96M282.62M328.92M469.55M451.14M
Cash, Cash Equivalents and Short-Term Investments26.06M151.60M146.94M204.60M369.58M368.22M
Total Debt48.68M74.21M25.23M23.08M25.47M23.71M
Total Liabilities201.59M234.11M243.10M247.04M263.58M109.92M
Stockholders Equity-70.96M11.85M39.51M81.88M205.96M341.23M
Cash Flow
Free Cash Flow-191.71M-75.93M-145.76M-171.51M1.95M-56.50M
Operating Cash Flow-190.03M-73.21M-140.88M-141.77M10.73M-53.59M
Investing Cash Flow1.79M-58.95M176.54M89.14M75.80M-278.92M
Financing Cash Flow1.34M78.75M880.00K12.87M3.29M340.05M

Adaptimmune Therapeutics Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.04
Price Trends
50DMA
0.15
Negative
100DMA
0.21
Negative
200DMA
0.37
Negative
Market Momentum
MACD
-0.03
Negative
RSI
26.16
Positive
STOCH
0.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADAP, the sentiment is Negative. The current price of 0.04 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.15, and below the 200-day MA of 0.37, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 26.16 is Positive, neither overbought nor oversold. The STOCH value of 0.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADAP.

Adaptimmune Therapeutics Risk Analysis

Adaptimmune Therapeutics disclosed 82 risk factors in its most recent earnings report. Adaptimmune Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Adaptimmune Therapeutics Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
51
Neutral
$7.95B-0.40-41.67%2.21%22.29%-1.85%
47
Neutral
$103.69M-63.24%-87.65%11.76%
41
Neutral
$13.52M-1341.37%-53.61%-93.14%
39
Underperform
$27.50M91.63%-44.63%26.80%
39
Underperform
$155.49M-76.34%-41.69%
37
Underperform
$73.59M-37.25%62.83%
35
Underperform
$44.21M-146.87%-17.96%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ADAP
Adaptimmune Therapeutics
0.04
-1.07
-96.40%
CLSD
Clearside Biomedical
0.35
-0.71
-66.98%
CABA
Cabaletta Bio
1.70
-2.70
-61.36%
JSPR
Jasper Therapeutics
2.72
-16.58
-85.91%
ADAG
Adagene
2.20
-0.70
-24.14%
CNTX
Context Therapeutics
0.82
-1.32
-61.68%

Adaptimmune Therapeutics Corporate Events

Executive/Board ChangesBusiness Operations and Strategy
Adaptimmune Announces Executive Team Changes Amid Restructuring
Negative
Aug 29, 2025

Adaptimmune Therapeutics announced changes in its executive team due to redundancy, affecting Gavin Wood, the Chief Financial Officer, and John Lunger, the Chief Patient Supply Officer. Mr. Wood’s employment will end on September 9, 2025, with a severance package including a year’s salary and other benefits, while Mr. Lunger’s termination is effective August 31, 2025, with similar severance terms. These changes reflect the company’s ongoing restructuring efforts, impacting its operational dynamics and potentially influencing stakeholder relations.

Executive/Board Changes
Adaptimmune Announces CCO Departure and Severance Agreement
Neutral
Aug 15, 2025

On August 15, 2025, Adaptimmune announced a separation agreement with Cintia Piccina, whose role as Chief Commercial Officer was terminated due to redundancy on August 8, 2025. As part of the agreement, Piccina will receive a severance payment equivalent to 12 months of her 2025 base salary, amounting to $473,800, and will have until January 30, 2032, to exercise her vested share options.

Delistings and Listing ChangesRegulatory Filings and Compliance
Adaptimmune Faces Nasdaq Delisting Notice Amid Compliance Issues
Negative
Aug 14, 2025

Adaptimmune Therapeutics plc, a company involved in the biotechnology industry, faced compliance issues with Nasdaq’s listing rules due to its American Depositary Shares trading below the required minimum bid price. On November 1, 2024, the company was notified of non-compliance and given until April 30, 2025, to resolve the issue. Despite an extension granted on May 1, 2025, to October 27, 2025, the company’s shares continued to fall, prompting Nasdaq to issue a delisting notice on August 14, 2025. Adaptimmune intends to request a hearing to present its compliance plan and seek additional time to meet the listing requirements, with its shares remaining on the Nasdaq Capital Market under the symbol ‘ADAP’ during the process.

Executive/Board ChangesBusiness Operations and Strategy
Adaptimmune Announces Termination of Chief Medical Officer
Negative
Aug 7, 2025

On August 7, 2025, Adaptimmune announced the termination of Dr. Elliot Norry as Chief Medical Officer, effective August 8, 2025, due to redundancy. Dr. Norry will receive a severance package including a year’s salary and healthcare coverage. Similarly, Dr. Joanna Brewer’s role as Chief Scientific Officer will end on August 31, 2025, with a similar severance arrangement. Gavin Wood’s termination as Chief Financial Officer, initially announced in December 2024, will also conclude on August 31, 2025, with a severance package including a year’s salary and a pro rata bonus. These changes reflect a strategic restructuring within the company.

M&A TransactionsBusiness Operations and Strategy
Adaptimmune Sells Cell Therapy Assets for $55 Million
Positive
Jul 31, 2025

On July 31, 2025, Adaptimmune Therapeutics completed a significant transaction involving the sale of its cell therapy assets to USWM CT, LLC, receiving $55 million and potential future milestone payments. This transaction also allowed Adaptimmune to settle its $29.1 million debt with Hercules Capital, thereby improving its financial position and potentially impacting its future operations and market strategy.

Executive/Board ChangesM&A TransactionsBusiness Operations and Strategy
Adaptimmune Sells Cell Therapy Assets to US WorldMeds
Negative
Jul 28, 2025

On July 27, 2025, Adaptimmune Therapeutics entered into an agreement to sell its cell therapy assets, including TECELRA, lete-cel, afami-cel, and uza-cel, to US WorldMeds for $55 million, with potential additional payments of up to $30 million based on milestone achievements. This transaction is part of a broader restructuring plan by Adaptimmune to maximize value from its remaining assets and involves significant workforce reductions. The restructuring will see key executives depart and is expected to incur pre-tax costs of approximately $7-8 million. The transaction aims to ensure the continued availability of TECELRA to patients and support the development of other therapies by US WorldMeds.

Legal Proceedings
Adaptimmune Settles Litigation with M.D. Anderson Cancer Center
Neutral
Jul 17, 2025

On July 16, 2025, Adaptimmune Therapeutics plc entered into a settlement agreement with The University of Texas M.D. Anderson Cancer Center to resolve litigation related to a Strategic Alliance Agreement from 2016. The settlement, which involves financial payment obligations, is not expected to have a material adverse effect on Adaptimmune’s financial position or operations.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 30, 2025