Adaptimmune Therapeutics plc

AI-generated fair value estimate for this company.

Method: Net-cash-plus-contingent-milestone basis: Adaptimmune sold its TECELRA/lete-cel/uza-cel cell-therapy assets to US WorldMeds for $55M upfront plus up to $30M in regulatory/commercial milestones; starting from ~$41M cash pre-sale plus the $55M upfront, less an estimated $60-70M of cumulative R&D/SG&A cash burn on its remaining preclinical pipeline and wind-down costs since the 2025 sale, implies residual net cash of roughly $8-10M, plus a heavily probability-weighted (~15%) present value of the up-to-$30M milestones (~$1-2M); across 265.05M shares this is approximately $0.03-0.04/share.

Reasoning: Adaptimmune divested its only commercial and late-stage clinical assets in 2025, was delisted from Nasdaq, and now holds only preclinical T-cell programs, so neither a revenue multiple nor a standard pipeline DCF is meaningful; a net-cash-and-contingent-milestone approach best reflects what is actually left in the shell after the sale and subsequent cash burn.