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Adaptive Biotechnologies Corporation - $ADPT STOCK NEWS

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Rhea-AI Summary

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.

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2.25%
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Rhea-AI Summary
Adaptive Biotechnologies (Nasdaq: ADPT) will report its first quarter 2024 financial results on May 7, 2024. The company aims to translate adaptive immune system genetics into clinical products for disease diagnosis and treatment. The webcast of the conference call will be available on the company's website.
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-4.3%
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Adaptive Biotechnologies (ADPT) announces CFO transition, strategic review update, and preliminary revenue results for Q1 2024. The company concluded to operate its MRD and Immune Medicine businesses internally while increasing their independence. Preliminary revenue for Q1 2024 shows a 12% increase, with MRD revenue up by 47%. CFO Tycho Peterson will be succeeded by Kyle Piskel, bringing over 15 years of financial expertise.
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-10.07%
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Adaptive Biotechnologies (ADPT) will host a business update conference call and webcast on April 2, 2024, aiming to translate genetics of the adaptive immune system into clinical products for disease diagnosis and treatment.
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0.35%
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Adaptive Biotechnologies Corporation (ADPT) will be participating in the TD Cowen 44th Annual Healthcare Conference in Boston, MA. The management will present on March 4th, providing a live and archived webcast for interested parties.
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4.12%
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Adaptive Biotechnologies reports financial results for Q4 and full year 2023, highlighting revenue of $170.3 million, MRD business growth, and key milestones achieved in cancer and autoimmune disorders. Despite a decrease in revenue, the company remains optimistic for 2024, with a strong start and strategic partnerships in place.
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Adaptive Biotechnologies Corporation (ADPT) will report Q4 and full year 2023 financial results on February 14, 2024. The webcast will be available on their website. The company focuses on translating adaptive immune system genetics into clinical products for disease diagnosis and treatment.
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-4.36%
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Adaptive Biotechnologies Corporation (Nasdaq: ADPT) to present at 42nd Annual J.P. Morgan Healthcare Conference
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4.31%
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Adaptive Biotechnologies Corporation (ADPT) presents new data on the expanding use of its clonoSEQ test in assessing minimal residual disease (MRD) in blood cancer patient care and clinical trials at the 65th Annual Meeting of the American Society of Hematology (ASH). The data shows that MRD assessed from blood in multiple myeloma may be an indicator of early response. The clonoSEQ test is the only FDA-cleared test for MRD assessment in lymphoid malignancies and is highly accurate, sensitive, and standardized compared to other technologies used for disease burden assessment.
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Adaptive Biotechnologies Corporation (ADPT) will present data from over 30 abstracts at the 65th Annual Meeting of the American Society of Hematology, showcasing the clinical and research utility of clonoSEQ in assessing minimal residual disease in blood cancer patients. The PR emphasizes clonoSEQ's FDA clearance and its role in guiding personalized care and shaping the future of blood cancer treatment.
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-7.14%
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Adaptive Biotechnologies Corporation

Nasdaq:ADPT

ADPT Rankings

ADPT Stock Data

509.89M
96.82M
2.83%
97.6%
6.27%
Biological Product (except Diagnostic) Manufacturing
Manufacturing
Link
United States of America
SEATTLE

About ADPT

we are a commercial-stage, biotechnology organization located in the hot biotech locations of seattle, washington and south san francisco, ca. our world class scientists have invented a patent-pending technology that combines advances in high-throughput sequencing with state-of-the-art computer infrastructure to provide an in-depth analysis of the t- and b-cell repertoire, a specific and important part of the immune system. this information is driving the r&d community to support the fights against cancer, auto-immune disease, and much, much more. we're often asked to describe our company culture. it is very easy ... we're a hard working group of top-notch individuals who are passionate about wanting to make a difference in the world. we know our employees are our most valuable asset, and every employee’s contribution is appreciated. open communication and collaboration are always encouraged in every interaction throughout the organization. we have high expectations of ourselves, and