Adaptimmune Reports Q2 Financial Results and Business Update - Reported responses in multiple solid tumor types during ASCO with updates at upcoming congresses in Q4 - - Continued progress toward launch of ADP-A2M4 for s

Adaptimmune Reports Q2 Financial Results

- Reported responses in multiple solid tumor

types during ASCO with updates at

upcoming congresses in Q4 -

- Continued progress toward launch of ADP-A2M4

for sarcoma in the US in 2022 with ongoing

enrollment of patients in SPEARHEAD-1 -

- Granted access to PRIority MEdicines (PRIME)

regulatory support by the European Medicines Agency

for ADP-A2M4 for the treatment of synovial sarcoma -

- Completed public offering with net proceeds

of approximately $244m; guidance confirmed: funded

- Conference call to be held today at 8:00

a.m. EDT (1:00 p.m. BST) -

PHILADELPHIA, PA., and OXFORDSHIRE, U.K., August 6, 2020

(GLOBE NEWSWIRE) -- Adaptimmune Therapeutics plc (Nasdaq: ADAP), a leader in cell therapy to treat cancer, today reported financial

results and provided a business update for the second quarter ended June 30, 2020.

"We reported responses in multiple solid tumor types during

the second quarter of 2020 demonstrating the potential of SPEAR T-cells to deliver benefit to people with cancer. We also

raised capital, placing us in a solid financial position to continue executing on our strategic plans," said Adrian Rawcliffe,

Adaptimmune's Chief Executive Officer. "Despite the impact of the COVID-19 pandemic on the biotech industry, we made

good progress in our preparations toward launching our first product in the US in 2022 for patients with sarcoma, whilst initiating

and planning new Phase 2 clinical trials. However, as we enter the second half of the year, we expect COVID-19 to continue to have

an impact and are monitoring this evolving situation closely."

PROGRESS TOWARD GOAL

OF LAUNCHING ADP-A2M4 IN SARCOMA IN THE US IN 2022

Financial Results for the three and six month periods

The Company believes that its existing cash, cash equivalents

and marketable securities will fund the Company's current operations into 2022, as further detailed in the Company's

Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2020, to be filed with the Securities and Exchange

Commission following this earnings release.

1 Total liquidity is a non-GAAP financial

measure, which is explained and reconciled to the most directly comparable financial measures prepared in accordance with

The Company will host

a live teleconference at 8:00 a.m. EDT (1:00 p.m. BST)

today, August 6, 2020. The live webcast of the conference call will be

available in the investor section of Adaptimmune's corporate website at www.adaptimmune.com. An archive will be available

after the call at the same address. To participate in the live conference call, please dial (833) 652-5917 (U.S. or Canada) or

+1 (430) 775-1624 (International). After placing the call, please ask to be joined into the Adaptimmune conference call and provide

the confirmation code (5488705).

Adaptimmune is a clinical-stage biopharmaceutical company focused

on the development of novel cancer immunotherapy products for people with cancer. The Company's unique SPEAR (Specific

Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple

Forward-Looking Statements

This release contains "forward-looking statements"

within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve certain

risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated

by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities

and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization

processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from

those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our

Quarterly Report on Form 10-Q filed with the SEC on May 14, 2020, and our other SEC filings. The forward-looking statements

contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update

such forward-looking statements to reflect subsequent events or circumstances.

Total Liquidity (a non-GAAP financial measure)

Total Liquidity (a non-GAAP financial measure) is the total

of cash and cash equivalents and marketable securities. Each of these components appears separately in the condensed consolidated

balance sheet. The U.S. GAAP financial measure most directly comparable to Total Liquidity is cash and cash equivalents as reported

in the condensed consolidated financial statements, which reconciles to Total Liquidity as follows (in millions):

	June 30,		December 31,
	2020		2019
Cash and cash equivalents	$	122.4		$	50.4
Marketable securities		296.6			39.1
Total Liquidity	$	419.0		$	89.5

The Company believes that the presentation of Total Liquidity

provides useful information to investors because management reviews Total Liquidity as part of its management of overall liquidity,

financial flexibility, capital structure and leverage.

Condensed Consolidated Statement of Operations

(unaudited, in thousands, except per share data)

	Three months ended			Six months ended
	June 30,			June 30,
	2020			2019			2020		2019
Revenue	$	502			$	157		$	1,263		$	157
Operating expenses
Research and development		(20,460	)			(25,511	)		(41,724	)		(47,530	)
General and administrative		(10,295	)			(10,148	)		(19,556	)		(21,921	)
Total operating expenses		(30,755	)			(35,659	)		(61,280	)		(69,451	)
Operating loss		(30,253	)			(35,502	)		(60,017	)		(69,294	)
Interest income		1,147				757			1,877			1,709
Other (expense) income, net		(749	)			(6,277	)		188			(847	)
Loss before income taxes		(29,855	)			(41,022	)		(57,952	)		(68,432	)
Income taxes		(25	)			(65	)		(95	)		(67	)
Net loss attributable to ordinary shareholders	$	(29,880	)		$	(41,087	)	$	(58,047	)	$	(68,499	)
Net loss per ordinary share
Basic and diluted	$	(0.04	)		$	(0.07	)	$	(0.07	)	$	(0.11	)
Weighted average shares outstanding:
Basic and diluted		822,725,556				629,355,975			781,235,457			628,655,278

Condensed Consolidated Balance Sheets

(unaudited, in thousands, except share data)

	June 30,			December 31,
	2020			2019
Assets
Current assets
Cash and cash equivalents	$	122,359			$	50,412
Marketable securities - available-for-sale debt securities		296,629				39,130
Other current assets and prepaid expenses (including current portion of clinical materials)		39,099				30,947
Total current assets		458,087				120,489
Restricted cash		4,324				4,496
Clinical materials		1,744				2,503
Operating lease right-of-use assets, net of accumulated amortization		18,892				20,789
Property, plant and equipment, net of accumulated depreciation of $26,100 (2019: $23,649)		27,020				31,068
Intangibles, net of accumulated amortization		2,134				2,198
Total assets	$	512,201			$	181,543
Liabilities and stockholders' equity
Current liabilities
Accounts payable		8,766				6,357
Operating lease liabilities, current		2,493				2,493
Accrued expenses and other accrued liabilities		23,836				23,363
Deferred revenue, current		3,464				2,128
Total current liabilities		38,559				34,341
Operating lease liabilities, non-current		20,814				22,966
Deferred revenue, non-current		44,651				-
Other liabilities, non-current		592				598
Total liabilities		104,616				57,905
Stockholders' equity
Common stock - Ordinary shares par value 0.001, 1,038,249,630 authorized and 927,668,946 issued and outstanding (2019: 785,857,300 authorized and 631,003,568 issued and outstanding)		1,324				943
Additional paid in capital		928,777				585,623
Accumulated other comprehensive loss		(8,805	)			(7,264	)
Accumulated deficit		(513,711	)			(455,664	)
Total stockholders' equity		407,585				123,638
Total liabilities and stockholders' equity	$	512,201			$	181,543

Condensed Consolidated Cash Flow Statement

(unaudited, in thousands)

	Six months ended
	June 30,
	2020			2019
Cash flows from operating activities
Net loss	$	(58,047	)		$	(68,499	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		3,583				3,642
Amortization		464				333
Share-based compensation expense		4,072				6,675
Unrealized foreign exchange (gains) losses		(2,004	)			1,048
Other		718				(166	)
Changes in operating assets and liabilities:
Increase in receivables and other operating assets		(10,104	)			(16,851	)
Decrease in non-current operating assets		615				1,263
Increase (decrease) in payables and other current liabilities		3,571				(876	)
Increase in deferred revenue		49,074				3,060
Net cash used in operating activities		(8,058	)			(70,371	)
Cash flows from investing activities
Acquisition of property, plant and equipment		(460	)			(1,202	)
Acquisition of intangibles		(407	)			(922	)
Maturity or redemption of marketable securities		39,931				54,324
Investment in marketable securities		(298,016	)			(15,983	)
Net cash (used in) provided by investing activities		(258,952	)			36,217
Cash flows from financing activities
Proceeds from issuance of common stock, net of issuance costs		334,388				-
Proceeds from exercise of stock options		5,075				366
Net cash provided by financing activities		339,463				366
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash		(678	)			289
Net increase (decrease) in cash, cash equivalents and restricted cash		71,775				(33,499	)
Cash, cash equivalents and restricted cash at start of period		54,908				72,476
Cash, cash equivalents and restricted cash at end of period	$	126,683			$	38,977