Adaptive Biotechnologies Corporation - ADPT STOCK NEWS

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced its participation in the 40th Annual J.P. Morgan Healthcare Conference on January 10th, 2022, at 12:45 p.m. PT / 3:45 p.m. ET. The company aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat diseases. Interested parties can access a live and archived webcast on the company’s website. Adaptive Biotechnologies focuses on developing immune-driven clinical products, with three commercial offerings and a robust pipeline addressing cancer, autoimmune conditions, and infectious diseases.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced promising data at the ASH 63rd Annual Meeting regarding its clonoSEQ Assay's ability to assess minimal residual disease (MRD) in multiple myeloma and chronic lymphocytic leukemia patients. Key findings from the MASTER trial showed that 71% of patients achieved two consecutive MRD-negative results, allowing for successful treatment discontinuation. The data supports clonoSEQ as a standard care tool, demonstrating its significance in monitoring blood cancers and potentially improving patient quality of life.

Adaptive Biotechnologies (Nasdaq: ADPT) will present over 30 abstracts at the 63rd Annual Meeting of the American Society of Hematology (ASH) from December 11-14, showcasing the effectiveness of its clonoSEQ® Assay for assessing minimal residual disease (MRD) in blood cancer patients. This FDA-approved assay is significant for conditions like multiple myeloma and chronic lymphocytic leukemia. The data highlights clonoSEQ's role in guiding treatment decisions, aiding in precise disease monitoring, and improving patient outcomes. The event will feature several oral and poster presentations emphasizing these findings.

Adaptive Biotechnologies (Nasdaq: ADPT) announced that Palmetto GBA's Molecular Diagnostics Program has finalized a local coverage determination (LCD) for the clonoSEQ® assay, which detects and monitors minimal residual disease (MRD) in blood cancers. This LCD includes coverage for B-cell acute lymphoblastic leukemia, multiple myeloma, and chronic lymphocytic leukemia, thereby expanding access for approximately 700,000 patients in the U.S. The clonoSEQ assay is the only FDA-cleared test for MRD assessment in these conditions and is currently available to over 240 million covered lives.

Adaptive Biotechnologies (ADPT) reported strong financial results for Q3 2021, with revenue of $39.5 million, a 50% increase year-over-year. Sequencing revenue saw a remarkable 96% growth, reaching $22.1 million. However, the company faced rising operating expenses of $95.8 million, leading to a net loss of $56.0 million, up from $36.7 million in Q3 2020. They reaffirmed their full-year revenue guidance of $148 million to $155 million, indicating a projected 54% growth compared to 2020. Cash reserves stood at $632.4 million as of September 30, 2021.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) will release its third quarter 2021 financial results on November 3, 2021, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. The event will be accessible via a live webcast on the company's website, with an archived replay available within 24 hours.

Adaptive focuses on leveraging the adaptive immune system for clinical products aimed at diagnosing and treating various diseases, including cancer and autoimmune conditions.

Adaptive Biotechnologies presented significant findings at IDWeek 2021 regarding its T-Detect™ COVID test, which can identify previous SARS-CoV-2 infections up to 12 months post-diagnosis. The test also distinguishes between natural infections and vaccine responses, outperforming traditional antibody tests. Additionally, results highlight that TCR repertoire characterization is nearly twice as sensitive as standard tests for identifying Lyme disease. These advancements illustrate the potential for T-cell testing to enhance clinical diagnostics and disease monitoring.

Adaptive Biotechnologies (Nasdaq: ADPT) has launched an enhanced clonoSEQ® B-cell Clonality (ID) report, which now includes immunoglobulin heavy chain (IgH) – V mutation status for chronic lymphocytic leukemia (CLL) patients. This report, the only FDA-cleared in vitro diagnostic for detecting and monitoring minimal residual disease (MRD) in CLL, offers dual insights from a single test. Including IGHV mutation status, which correlates with better outcomes, simplifies diagnosis and treatment planning for physicians. The update aims to enhance patient management by providing critical prognostic information at diagnosis.

Adaptive Biotechnologies has opened its new corporate headquarters and lab in Seattle, designed to foster growth and innovation in biotechnology. The 100,086 square foot facility features over 20,000 square feet of lab space to enhance its diagnostic pipeline and drug discovery efforts. With nearly double the workforce since the pandemic, Adaptive is committed to scaling operations. The company also launched a partnership with STEM Paths Innovation Network to support female students in STEM fields, demonstrating a commitment to diversifying the workforce.