Welcome to our dedicated page for Adaptive Biotechnologies Corporation news (Ticker: ADPT), a resource for investors and traders seeking the latest updates and insights on Adaptive Biotechnologies Corporation stock.
Adaptive Biotechnologies Corporation (Nasdaq: ADPT) is a commercial-stage biotechnology company dedicated to leveraging the intricate biology of the adaptive immune system to innovate in the diagnosis and treatment of diseases. The company's proprietary immune medicine platform combines high-throughput sequencing with cutting-edge computational infrastructure to offer detailed analyses of T- and B-cell repertoires, critical elements in the body's immune response. Adaptive focuses on two primary business areas: Minimal Residual Disease (MRD) and Immune Medicine.
One of Adaptive's flagship products is clonoSEQ®, a highly sensitive and standardized test authorized by the FDA for detecting minimal residual disease (MRD) in patients with multiple myeloma (MM), B-cell acute lymphoblastic leukemia (B-ALL), and chronic lymphocytic leukemia (CLL). The clonoSEQ test is also available as a CLIA-validated laboratory developed test (LDT) for other lymphoid cancers, such as diffuse large B-cell lymphoma (DLBCL). The MRD status measured by clonoSEQ serves as a powerful predictor of patient outcomes, aiding in personalized treatment and monitoring strategies.
Adaptive Biotechnologies has formed strategic partnerships with leading biopharmaceutical companies. For instance, it collaborates with Genentech on T-cell receptor (TCR) based therapeutic products, providing a neoantigen-specific T-cell receptor identified using Adaptive's TCR discovery platform. The company also signed a multi-year collaboration with BeiGene to use clonoSEQ technology in developing novel therapies for lymphoid malignancies.
In terms of financial achievements, for the year ended December 31, 2023, Adaptive reported a total revenue of $170.3 million, with the MRD revenue contributing significantly to this growth. The company achieved substantial progress in clonoSEQ test volume and introduced strategic updates to maximize the value of its MRD and Immune Medicine businesses.
Adaptive Biotechnologies operates from biotech hubs in Seattle, Washington, and South San Francisco, California. Their team of world-class scientists and open, collaborative culture drive continuous innovation. The company's clinical diagnostics and pipeline developments aim to transform the clinical landscape, offering new hope for treating cancers, autoimmune disorders, and infectious diseases.
Recently, Adaptive Biotechnologies announced significant progress and strategic decisions to enhance its business operations. They integrated clonoSEQ into Epic’s specialty diagnostics suite, easing MRD monitoring accessibility for healthcare providers. The company continues to focus on driving operational efficiencies, as reflected by a decrease in operating expenses while maintaining sustainable growth.
Adaptive Biotechnologies remains committed to leveraging the adaptive immune system's potent capabilities to develop and commercialize immune-driven clinical products tailored to individual patient needs. With a robust cash position, Adaptive aims for profitability in its MRD business while making targeted investments in Immune Medicine.
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.
Adaptive Biotechnologies (Nasdaq: ADPT), a commercial stage biotechnology company, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference in New York, NY. The company's management will take part in a fireside chat on Friday, September 6th at 9:20 a.m. Pacific Time / 12:20 p.m. Eastern Time.
Adaptive Biotechnologies focuses on translating the genetics of the adaptive immune system into clinical products for disease diagnosis and treatment. Interested parties can access a live and archived webcast of the presentation through the 'Investors' section of the company's website at www.adaptivebiotech.com.
Adaptive Biotechnologies (Nasdaq: ADPT) reported Q2 2024 financial results, showing a 12% decrease in total revenue to $43.2 million. However, the MRD business grew 36% to $35.3 million, contributing 82% of total revenue. clonoSEQ test volume increased 36% to 18,520 tests. Operating expenses decreased 6% to $90.5 million, including $7.2 million in long-lived assets impairment charges. Net loss was $46.2 million, slightly improved from $47.8 million in Q2 2023. The company updated its 2024 guidance, raising the MRD revenue range to $140-$145 million and reducing expected operating expenses to $340-$350 million. Cash, cash equivalents, and marketable securities stood at $291.9 million as of June 30, 2024.
Adaptive Biotechnologies (Nasdaq: ADPT), a biotechnology firm focused on harnessing the genetics of the adaptive immune system for clinical applications, will announce its Q2 2024 financial results on August 1, 2024, post-market close.
The company will host a webcast conference call at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on the same day to discuss the results. The live audio will be accessible via the 'Investors' section on their website, with an archived replay available within 24 hours after the event.
Adaptive Biotechnologies (Nasdaq: ADPT) announced significant data supporting the clinical benefits of their clonoSEQ® test for measurable residual disease (MRD) assessment across multiple blood cancers. The data will be presented at the 2024 ASCO Annual Meeting and EHA2024 Hybrid Congress.
More than 20 abstracts will highlight clonoSEQ's efficacy in monitoring treatment response, predicting patient outcomes, and aiding in drug development. Key findings include strong correlations between MRD assessments in bone marrow and peripheral blood in pediatric acute lymphoblastic leukemia, and the clinical significance of sustained MRD negativity in multiple myeloma. Evidence from the PERSEUS study shows that patients with MRD negativity experienced improved progression-free survival.
These data underscore clonoSEQ's role as a standard in MRD assessment, providing critical insights for clinicians and researchers in the treatment of blood cancers.
Adaptive Biotechnologies, a commercial-stage biotechnology company focused on the adaptive immune system, announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference. The event will take place in Miami, FL, with a fireside chat scheduled for June 11, 2024, at 10:20 a.m. PT / 1:20 p.m. ET. The webcast of the presentation can be accessed live and archived on the company's website.
Adaptive Biotechnologies reported a revenue of $41.9 million for the first quarter of 2024, with the MRD business contributing 78% of the revenue, showing a 52% growth compared to the same period in 2023. The clonoSEQ test volume also grew by 41% to 17,040 tests delivered. The company achieved regulatory milestones and received positive feedback from the FDA's ODAC. Despite an 11% increase in revenue year-over-year, Immune Medicine revenue saw a 43% decrease. Operating expenses decreased by 4% to $90.6 million. The net loss for the quarter was $47.5 million, showing improvement from the same period in 2023. Cash, cash equivalents, and marketable securities stood at $308.9 million as of March 31, 2024. Updated financial guidance for 2024 includes an increased revenue projection for the MRD business and a range for total company operating expenses.
FAQ
What is the current stock price of Adaptive Biotechnologies Corporation (ADPT)?
What is the market cap of Adaptive Biotechnologies Corporation (ADPT)?
What is Adaptive Biotechnologies Corporation known for?
What is clonoSEQ?
Who are some of Adaptive Biotechnologies' key partners?
What were Adaptive Biotechnologies' financial highlights for 2023?
How does Adaptive Biotechnologies contribute to personalized medicine?
What recent strategic decisions has Adaptive Biotechnologies made?
Where are Adaptive Biotechnologies' main operations located?
What is the company culture at Adaptive Biotechnologies?
What are some key clinical applications of clonoSEQ?
What are Adaptive Biotechnologies' future goals?
