Adaptimmune Underperforms After Roche Ends Collaboration

Adaptimmune is down 10% in New York trading, underperforming a 3.6% decline in the SPDR S&P Biotech ETF, after the cancer-therapy developer disclosed earlier Friday that its strategic collaboration with Roche’s Genentech, which dates to 2021, has been terminated.

• ADAP reaffirmed its focus on potentially launching its afami-cel product for synovial sarcoma later this year after the FDA decision date on Aug. 4
• Mizuho (buy) in an afternoon note says “it’s reasonable to expect a moderate contraction in the company’s previously guided cash runway of early 2026”
  • Analyst Graig Suvannavejh sees possible update at Philadelphia investor day on April 18 or during 1Q24 earnings ...