Steve Schwartz

Question 1

Steve Schwartz's questions to Adicet Bio (ACET) leadership • Q3 2018

May 4, 2018

Question

Steve Schwartz from First Analysis asked about the viability of using domestic API suppliers to resolve the VA contract issue, the status of previously announced deadlines, and sought to clarify the timing and resolution status of the failure-to-supply penalties.

Answer

President and CEO Bill Kennally explained that while they are exploring all options, including domestic API suppliers, the process is complex and time-consuming. He confirmed that the VA contract deadlines have passed. Regarding the failure-to-supply penalties, he clarified that while they are incurred with a lag, it's difficult to guarantee the issue is fully resolved, though he expects future penalties to be of a lesser magnitude.

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Question 2

Steve Schwartz's questions to Adicet Bio (ACET) leadership • Q2 2018

Feb 2, 2018

Question

Steve Schwartz from First Analysis sought clarification on the impact of customer harmonization, asking if it affected pricing or volume. He also inquired about the reason for the reduced R&D spending forecast and the drivers of weakness in the agricultural products business.

Answer

COO Walt Kaczmarek explained that customer harmonization, such as with ClarusONE, primarily impacts pricing by resetting the portfolio to the lowest common denominator, driving down the average selling price. President and CEO Bill Kennally clarified that the $1 million reduction in R&D spend was due to taking certain products out of the development system. Kaczmarek added that the weakness in agricultural protection products was due to a new competitor entering the market for a specific product, forcing price reductions to maintain market share.