Adaptive Biotechnologies Corporation - ADPT STOCK NEWS

Adaptive Biotechnologies (ADPT) and NeoGenomics (NEO) announced a multi-year exclusive strategic commercial collaboration to enhance minimal residual disease (MRD) monitoring for blood cancer patients. The partnership integrates Adaptive's FDA-cleared clonoSEQ test with NeoGenomics' COMPASS and CHART assessment services.

The collaboration enables clinicians using NeoGenomics' COMPASS for initial blood cancer diagnosis to simultaneously identify DNA sequences for patient tracking. The service covers multiple myeloma, B-cell acute lymphoblastic leukemia, chronic lymphocytic leukemia, and diffuse large B-cell lymphoma. Subsequent CHART assessments can include clonoSEQ MRD testing throughout treatment.

Testing will be performed at Adaptive's CLIA-certified, CAP-accredited laboratory in Seattle. The companies will begin implementing the necessary infrastructure with cross-promotional efforts expected later this year. Financial terms were not disclosed.

Adaptive Biotechnologies (ADPT) announced that its clonoSEQ® test for minimal residual disease (MRD) assessment has received a new Medicare Clinical Laboratory Fee Schedule (CLFS) rate of $2,007, effective January 1, 2025. Additionally, MolDX has updated the clonoSEQ episode pricing to $8,029 across all covered indications.

The CLFS rate was established through a gapfill determination process, where Medicare evaluates the test's value based on factors including required resources, other payer rates, and similar technology costs. The clonoSEQ test provides MRD measurement in lymphoid malignancies and is widely covered by Medicare and commercial payers.

With this finalized rate, Adaptive plans to leverage it for establishing new payer agreements, updating existing agreements to include the clonoSEQ PLA code, and expanding coverage to additional indications.

Adaptive Biotechnologies (Nasdaq: ADPT), a commercial stage biotechnology company focused on adaptive immune system genetics and clinical products, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco.

The company's management will deliver their presentation on Tuesday, January 14th at 5:15 p.m. Pacific Time / 8:15 p.m. Eastern Time. Investors and interested parties can access both live and archived versions of the presentation through the 'Investors' section on the company's website at www.adaptivebiotech.com.

Adaptive Biotechnologies (ADPT) presented new data at the 66th ASH Annual Meeting showcasing the effectiveness of their clonoSEQ® test in measuring residual disease (MRD) for blood cancer treatment. Key findings from multiple studies demonstrate that achieving MRD levels below 10⁻⁶ correlates with improved patient outcomes.

The Phase 3 ECOG-ACRIN EA4151 trial revealed that mantle cell lymphoma patients with undetectable MRD may not need autologous transplantation. The FELIX study showed 84% of treatment responders achieved MRD <10⁻⁶, associated with better survival rates. Additional studies in multiple myeloma, chronic lymphocytic leukemia, and pediatric B-ALL further validated clonoSEQ's utility in guiding treatment decisions and monitoring disease progression.

Adaptive Biotechnologies (Nasdaq: ADPT) announced that its clonoSEQ® test for measurable residual disease (MRD) assessment will be featured in over 65 abstracts at the 66th ASH Annual Meeting. The presentations span eight different types of blood cancer and include a plenary session, a late-breaking abstract, and 25 oral presentations. The studies demonstrate clonoSEQ's role as a standard for efficacy measurement in pivotal clinical trials and highlight its advantages in both clinical trials and real-world practice. Several practice-changing studies use MRD as a primary endpoint in multiple myeloma, mantle cell lymphoma, and chronic lymphocytic leukemia.

Adaptive Biotechnologies reported its Q3 2024 financial results, highlighting a 22% revenue increase to $46.4 million compared to Q3 2023. The MRD business contributed 81% of revenue, growing 52% year-over-year, with clonoSEQ test volume rising 30% to 19,600 tests. The company achieved an updated Medicare CLFS Gapfill rate for clonoSEQ at $2,007 per test, a 17% increase, and expanded Medicare coverage for Mantle Cell Lymphoma.

Operating expenses decreased 11% to $79.1 million, with a net loss of $32.1 million, down from $50.3 million in Q3 2023. Adjusted EBITDA loss improved to $14.3 million from $29.8 million. Cash reserves stood at $267.2 million.

Updated 2024 guidance projects MRD revenue between $143 million and $145 million and total operating expenses between $335 million and $340 million.

Adaptive Biotechnologies (NASDAQ: ADPT) announced expanded Medicare coverage for its clonoSEQ test to include measurable residual disease (MRD) assessment in mantle cell lymphoma (MCL) patients. The coverage follows Medicare's episode pricing structure with an updated rate of $8,029. MCL, affecting approximately 4,000 new cases annually in the US, is an aggressive form of non-Hodgkin lymphoma where most patients experience multiple relapses. clonoSEQ offers a minimally invasive, blood-based MRD testing option to assess treatment response and monitor disease progression. This expansion adds to existing Medicare coverage for multiple myeloma, chronic lymphocytic leukemia, B-cell acute lymphoblastic leukemia, and diffuse large B-cell lymphoma.

Adaptive Biotechnologies (Nasdaq: ADPT), a commercial stage biotechnology company focused on translating adaptive immune system genetics into clinical products for disease diagnosis and treatment, has announced its third quarter 2024 financial results release date. The company will report its financial results on Thursday, November 7, 2024, after the market closes.

Following the release, Adaptive Biotechnologies will host a conference call and webcast at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time on the same day. Investors can access the live audio webcast through the 'Investors' section of the company's website at www.adaptivebiotech.com. For those unable to attend live, an archived version of the webcast will be made available within 24 hours after the event.

Adaptive Biotechnologies (Nasdaq: ADPT) has announced that its clonoSEQ® test has received In Vitro Diagnostic Regulation (IVDR) 2017/746 Class C certification in the European Union. This makes clonoSEQ the first IVDR-certified test for detecting minimal residual disease (MRD) in patients with lymphoid malignancies. The certification allows for broad use in assessing MRD status and changes in disease burden for B-cell malignancies.

clonoSEQ is widely adopted in patient care and clinical trials, with over 3,700 clinicians using it clinically in the past year and its inclusion in more than 160 active biopharma-sponsored trials. The test is available in several European countries through technology transfer partnerships with major academic laboratories, with additional partnerships expected later in 2024.