Adaptive Biotechnologies Announces Preliminary Fourth Quarter and Full Year 2025 Results
Rhea-AI Summary
Adaptive Biotechnologies (Nasdaq: ADPT) reported preliminary, unaudited fourth quarter and full year 2025 results. Total revenue was approximately $72M in Q4 and $277M for FY2025, up 51% and 55% year‑over‑year. MRD revenue was about $62M in Q4 and $212M for the year, up 54% and 46% versus 2024; excluding an MRD regulatory milestone, MRD revenue grew 45% FY‑over‑FY. clonoSEQ tests delivered totaled ~30,000 in Q4 (+43%) and ~105,600 for the year (+39%). Cash and marketable securities were ~$227M at year end. Full audited results will be released during the February 2026 earnings call.
Positive
- Total revenue +55% year-over-year to $277M in FY2025
- MRD revenue +46% year-over-year to $212M in FY2025
- clonoSEQ volume +39% to ~105,600 tests for FY2025
- Q4 MRD revenue +54% to $62M, showing recent momentum
- Cash and marketable securities of ~$227M at 12/31/2025
Negative
- Results are preliminary and unaudited pending February 2026 release
- High revenue concentration: MRD comprised ~76% of FY2025 revenue
- MRD growth figure excludes a regulatory milestone for adjusted comparison
News Market Reaction
On the day this news was published, ADPT gained 15.86%, reflecting a significant positive market reaction. Argus tracked a peak move of +12.7% during that session. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $387M to the company's valuation, bringing the market cap to $2.82B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ADPT slipped 1.25% while momentum data show only one peer, BEAM, moving notably, up 6.57%. Broader biotech peers are mixed, suggesting today’s setup looks more stock-specific than a sector-wide rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 30 | Conference presentation | Neutral | -1.1% | J.P. Morgan Healthcare Conference presentation announcement in San Francisco. |
| Dec 15 | Partnership deal | Positive | +1.6% | Two immune receptor licensing agreements with Pfizer including RA collaboration. |
| Dec 09 | MRD fireside chat | Neutral | -0.6% | Jefferies fireside chat focused on MRD and clonoSEQ assay technology. |
| Nov 24 | ASH data update | Positive | +9.9% | Nearly 90 ASH abstracts showcasing clonoSEQ MRD testing across blood cancers. |
| Nov 06 | Investor conferences | Neutral | -5.0% | Participation in Jefferies and Piper Sandler healthcare investor conferences. |
Recent news, especially MRD and partnership updates, has often coincided with constructive price reactions, while routine conference notices have produced modest moves.
Over the last few months, ADPT highlighted growing visibility for its MRD and clonoSEQ franchise. On Nov 24, 2025, ASH abstracts featuring clonoSEQ coincided with a 9.94% gain, underscoring investor focus on MRD adoption. Earlier 2025 conferences and a J.P. Morgan appearance had smaller, mixed reactions. The Pfizer licensing agreements on Dec 15, 2025 drew a positive move, reinforcing interest in partnerships alongside MRD growth.
Market Pulse Summary
The stock surged +15.9% in the session following this news. A strong positive reaction aligns with the company’s history of outsized moves on earnings, where prior updates averaged 11.67% swings. The preliminary 2025 figures highlight rapid MRD and clonoSEQ expansion and a cash balance of $227 million. Investors would still need to watch how final February results, profitability metrics and any changes to longer-term guidance compare with these early figures.
Key Terms
MRD medical
AI-generated analysis. Not financial advice.
Full year MRD revenue growth of
SEATTLE, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced preliminary, unaudited results for the fourth quarter and full year ended December 31, 2025.
- Total revenue for the fourth quarter and full year 2025 was approximately
$72 million and$277 million , representing an increase of51% and55% , respectively, over the corresponding periods in 2024. - MRD revenue for the fourth quarter and full year 2025 was approximately
$62 million and$212 million , representing an increase of54% and46% , respectively, over the corresponding periods in 2024. Excluding MRD regulatory milestone revenue, MRD revenue for full year 2025 grew45% over the corresponding period in 2024. - clonoSEQ test volume increased
43% to approximately 30,000 tests in the fourth quarter 2025 compared to the fourth quarter 2024 and ended the year with approximately 105,600 tests delivered, up39% compared to full year 2024. - Cash, cash equivalents and marketable securities were approximately
$227 million as of December 31, 2025.1
“2025 was a pivotal year for Adaptive, marked by accelerating momentum across our MRD business driven by strong growth in clonoSEQ adoption,” said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. “As we look ahead to 2026, we are well-positioned to extend our leadership in MRD testing, sustain strong clonoSEQ volume and ASP growth, and further expand MRD profitability.”
Adaptive Biotechnologies plans to release its complete fourth quarter and full year 2025 financial results during its earnings call in February 2026.
1 Excludes Digital Biotechnologies, Inc. cash and cash equivalents.
Forward-Looking Statements
All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding Adaptive’s financial results for the fourth quarter and full year ended December 31, 2025 and its goals and strategies for 2026. In some cases, you can identify forward-looking statements by the words “may,” “expect,” “plan,” “believe,” “estimate,” “predict,” “project,” “continue,” or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate.
In particular, with respect to our preliminary financial results for the fourth quarter and full year ended December 31, 2025, we have not completed preparation of our financial statements for the fourth quarter or full year of 2025. The revenue, cash, test volumes and other results presented herein are preliminary and unaudited and are thus inherently uncertain and subject to change as Adaptive completes its customary year-end close, prepares its financial statements and completes the audit thereof. This press release does not disclose estimated expenses, although we expect fourth quarter and full year 2025 net loss to decrease compared to comparable periods in 2024. The final results for the fourth quarter and full year ended December 31, 2025 may differ materially from these estimates. Adaptive’s expectations with respect to its preliminary, unaudited results herein are based upon management estimates and are the responsibility of management. Adaptive’s independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to these preliminary results.
The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.
About Adaptive Biotechnologies
Adaptive Biotechnologies (“we” or “our”) is a commercial-stage biotechnology company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. We believe the adaptive immune system is nature’s most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Our proprietary immune medicine platform reveals and translates the massive genetics of the adaptive immune system with scale, precision and speed. We apply our platform to partner with biopharmaceutical companies, inform drug development, and develop clinical diagnostics across our two business segments: Minimal Residual Disease (MRD) and Immune Medicine. Our commercial products and clinical pipeline enable the diagnosis, monitoring, and treatment of diseases such as cancer and autoimmune disorders. Our goal is to develop and commercialize immune-driven clinical products tailored to each individual patient.
ADAPTIVE INVESTORS
Karina Calzadilla, Vice President, Investor Relations and FP&A
201-396-1687
investors@adaptivebiotech.com
ADAPTIVE MEDIA
Erica Jones, Associate Corporate Communications Director
206-279-2423
media@adaptivebiotech.com
FAQ
What did Adaptive Biotechnologies (ADPT) report for total revenue in FY2025?
How much did MRD revenue grow for Adaptive (ADPT) in 2025?
What were clonoSEQ test volumes for Adaptive (ADPT) in Q4 and FY2025?
How much cash did Adaptive Biotechnologies (ADPT) hold at year‑end 2025?
When will Adaptive Biotechnologies (ADPT) release audited 4Q and FY2025 results?
