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Adaptive Biotechnologies Corporation - ADPT STOCK NEWS

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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.

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Adaptive Biotechnologies has partnered with Epic to integrate the clonoSEQ Assay into Epic's electronic medical record system. This integration aims to enhance monitoring of minimal residual disease (MRD) in blood cancer patients, making access to this FDA-cleared test easier for oncologists. clonoSEQ allows for accurate monitoring of cancer cells during treatment, which is crucial for patient care. The integration is set to go live in 2023, and Adaptive plans to seek further partnerships with other oncology EMR vendors.

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Adaptive Biotechnologies (Nasdaq: ADPT) will announce its third-quarter 2022 financial results after market close on November 3, 2022. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, which will be available via live webcast on the company’s website. The company focuses on leveraging the adaptive immune system for clinical products aimed at diagnosing and treating diseases, including cancer and autoimmune disorders. Its proprietary platform is designed to decode the complexities of the immune system, enabling innovative diagnostics and therapeutics.

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Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced a non-dilutive royalty financing agreement with OrbiMed, totaling up to $250 million. This deal aims to bolster Adaptive's balance sheet, which reported over $450 million in cash and marketable securities as of Q2 2022. The initial tranche of $125 million will support corporate purposes, with additional potential tranches of $75 million and $50 million for M&A. OrbiMed will receive a percentage of GAAP revenues, increasing to 10% with full funding. The partnership is designed to extend Adaptive’s cash runway and fuel growth initiatives.

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Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced its participation in the Morgan Stanley Global Healthcare Conference in New York on September 12, 2022. The management team will take part in a fireside chat at 12:30 p.m. Eastern Time. Interested individuals can access a live and archived webcast via the company’s Investors section on their website. Adaptive Biotechnologies focuses on translating the genetics of the adaptive immune system into clinical products for diagnosing and treating various diseases, particularly cancer and autoimmune disorders.

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Adaptive Biotechnologies reported a 13% year-over-year revenue increase for Q2 2022, totaling $43.7 million. The clonoSEQ test volume surged 53% compared to Q2 2021. The company's MRD revenue rose 38% to $21.3 million, while Immune Medicine revenue fell 3% to $22.4 million. Operating expenses increased 9% to $96.2 million, causing a net loss of $52.1 million. The firm maintains its full-year revenue guidance of $185 million to $195 million but has lowered expected operating expenses to $410 million to $415 million.

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Adaptive Biotechnologies (Nasdaq: ADPT) has announced that clonoSEQ becomes the first assay to receive Medicare coverage for monitoring minimal residual disease (MRD) in patients with diffuse large B-cell lymphoma (DLBCL). This coverage expansion allows approximately 75% of treated DLBCL patients who are Medicare aged to access this test. The clonoSEQ assay utilizes circulating tumor DNA to provide insights on patient responses to treatment, potentially improving overall care. The coverage is effective immediately and complements existing Medicare coverage for other hematological malignancies.

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Adaptive Biotechnologies Corporation (Nasdaq: ADPT) is set to report its second quarter 2022 financial results after the market closes on August 3, 2022. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. The company focuses on leveraging the adaptive immune system to develop diagnostic and therapeutic products for various diseases, including cancer and autoimmune conditions. The call will be accessible to registered participants, and a replay will be available on the company’s website within 24 hours.

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Adaptive Biotechnologies (Nasdaq: ADPT) has launched T-Detect Lyme, a test designed to detect early Lyme disease with significantly higher sensitivity than existing antibody tests. This simple blood test identifies T cells activated by Borrelia burgdorferi, the Lyme disease-causing bacterium, thereby improving the accuracy of early Lyme diagnoses. With an approximate sensitivity of over 1.5 times that of standard testing, T-Detect Lyme could potentially identify cases that traditional tests miss, benefiting the estimated half a million newly infected individuals annually in the U.S.

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Adaptive Biotechnologies (Nasdaq: ADPT) will present data at the ASCO Annual Meeting (June 3-7, 2022) highlighting the effectiveness of its clonoSEQ assay for measuring minimal residual disease (MRD) in blood cancers. clonoSEQ is the first FDA-cleared test for MRD in chronic lymphocytic leukemia (CLL), multiple myeloma (MM), and B-cell acute lymphoblastic leukemia (B-ALL). The data support clonoSEQ's role in assessing treatment response and patient outcomes, marking a significant step towards standardizing MRD assessment in lymphoid cancers.

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Adaptive Biotechnologies Corporation (Nasdaq: ADPT) will participate in two upcoming investor conferences. The William Blair 42nd Annual Growth Stock Conference takes place on June 8 at 3:20 p.m. CT in Chicago, IL, while the Goldman Sachs 43rd Annual Global Healthcare Conference is scheduled for June 15 at 10:00 a.m. PT in Rancho Palos Verdes, CA.

Live and archived webcasts will be accessible via their website.

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FAQ

What is the current stock price of Adaptive Biotechnologies Corporation (ADPT)?

The current stock price of Adaptive Biotechnologies Corporation (ADPT) is $5.315 as of November 1, 2024.

What is the market cap of Adaptive Biotechnologies Corporation (ADPT)?

The market cap of Adaptive Biotechnologies Corporation (ADPT) is approximately 761.0M.

What is Adaptive Biotechnologies Corporation known for?

Adaptive Biotechnologies is known for its proprietary immune medicine platform that analyzes T- and B-cell repertoires to innovate in disease diagnosis and treatment, particularly through its clonoSEQ test for minimal residual disease (MRD).

What is clonoSEQ?

clonoSEQ is an FDA-authorized test for detecting minimal residual disease (MRD) in patients with multiple myeloma (MM), B-cell acute lymphoblastic leukemia (B-ALL), and chronic lymphocytic leukemia (CLL). It is also available as a laboratory-developed test (LDT) for other lymphoid cancers.

Who are some of Adaptive Biotechnologies' key partners?

Adaptive collaborates with leading biopharmaceutical companies like Genentech and BeiGene to develop innovative therapies, particularly focusing on T-cell receptor (TCR) based therapeutic products and MRD assessment.

What were Adaptive Biotechnologies' financial highlights for 2023?

Adaptive reported a total revenue of $170.3 million for the year ended December 31, 2023, with significant contributions from its MRD business. The company also achieved substantial progress in clonoSEQ test volume.

How does Adaptive Biotechnologies contribute to personalized medicine?

Adaptive's immune medicine platform and products like clonoSEQ enable personalized diagnosis, monitoring, and treatment of diseases by leveraging detailed immune system analyses to tailor clinical products to individual patient needs.

What recent strategic decisions has Adaptive Biotechnologies made?

Adaptive has focused on driving operational efficiencies, integrating clonoSEQ into Epic’s diagnostics suite for easier MRD monitoring, and enhancing the independence of its MRD and Immune Medicine businesses to maximize shareholder value.

Where are Adaptive Biotechnologies' main operations located?

Adaptive Biotechnologies operates from biotech hubs in Seattle, Washington, and South San Francisco, California.

What is the company culture at Adaptive Biotechnologies?

Adaptive's culture emphasizes hard work, collaboration, open communication, and innovation, driven by a passionate team committed to making a difference in the world.

What are some key clinical applications of clonoSEQ?

clonoSEQ is used for MRD assessment to predict patient outcomes, evaluate treatment response, and inform clinical decisions in diseases like multiple myeloma, B-ALL, CLL, and other lymphoid cancers.

What are Adaptive Biotechnologies' future goals?

Adaptive aims to continue developing and commercializing immune-driven clinical products tailored to individual patient needs while achieving profitability in its MRD business and advancing key programs in Immune Medicine through targeted investments.

Adaptive Biotechnologies Corporation

Nasdaq:ADPT

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760.96M
147.47M
1.93%
98.62%
6.43%
Biotechnology
Biological Products, (no Disgnostic Substances)
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United States of America
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