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Adaptive Biotechnologies Reports Third Quarter 2026 Financial Results

Adaptive lowered expected full-year operating expenses to approximately $350 million from a previous range of $350 million–$355 million.

(Very High)

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Adaptive Biotechnologies (Nasdaq: ADPT) reported third-quarter 2026 revenue of $83.9 million, down from the same quarter a year earlier. Revenue fell 11%, but increased 39% excluding the Genentech agreement, which generated no revenue this quarter. Minimal residual disease (MRD) revenue rose 28% to $72.6 million, or 44% excluding milestones; clonoSEQ test volume increased 46% to 39,587. Immune Medicine revenue declined 70% to $11.3 million.

Net income was $2.8 million versus $9.5 million a year earlier. Adjusted EBITDA, a non-GAAP earnings measure, fell to $14.3 million from $28.0 million; free cash flow was $7.7 million. Adaptive raised its expected full-year MRD revenue range to $276 million–$286 million from $268 million–$278 million. Cash, cash equivalents and marketable securities totaled $400.2 million at September 30. Revenue was recognized from successful target-discovery data delivery, while the Immune Medicine separation process continued.

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19 points · 1 major

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0 major · 22 points

Hollow bars mark forward-looking points. How the balance works

Positive

  • Major point. Forward-looking: it has not happened yet and may not happen.Full-year MRD revenue guidance raised to $276 million–$286 million, representing expected annual growth of 30%–35%.
  • Moderate pointThird-quarter MRD revenue increased 28% to $72.6 million; growth excluding milestones was 44% year over year.
  • Moderate pointThird-quarter clonoSEQ volume increased 46% year over year to 39,587 tests.
  • Moderate pointThird-quarter MRD net income reached $6.483 million, versus a $2.042 million loss a year earlier.
  • Moderate pointThird-quarter MRD adjusted EBITDA increased to $15.119 million from $6.965 million a year earlier.
14 minor points
  • Minor point. Forward-looking: it has not happened yet and may not happen.Expected full-year operating expenses lowered to approximately $350 million from $350 million–$355 million.
  • Minor pointThird-quarter free cash flow was $7.7 million.
  • Minor pointTarget-discovery agreement generated revenue from successful data delivery.
  • Minor pointThird-quarter research and development expense declined to $18.638 million from $23.669 million a year earlier.
  • Minor pointThird-quarter interest expense declined to $0.5 million from $3.0 million a year earlier.
  • Minor pointThird-quarter interest and other income increased to $3.8 million from $2.2 million a year earlier.
  • Minor pointNine-month revenue increased to $226.329 million from $205.295 million a year earlier.
  • Minor pointNine-month operating loss narrowed to $35.433 million from $44.350 million a year earlier.
  • Minor pointNine-month adjusted EBITDA increased to $11.153 million from $8.009 million a year earlier.
  • Minor pointNine-month MRD revenue increased to $205.826 million from $150.447 million a year earlier.
  • Minor pointNine-month MRD net income reached $10.227 million, versus a $21.460 million loss a year earlier.
  • Minor pointNine-month MRD adjusted EBITDA increased to $36.373 million from $4.766 million a year earlier.
  • Minor pointCash, cash equivalents and marketable securities totaled $400.2 million at September 30, including $13.8 million held by Digital Biotechnologies.
  • Minor pointRevenue interest liabilities were zero at September 30, versus current and long-term balances at December 31, 2025.

Negative

  • Moderate pointThird-quarter revenue declined 11% to $83.9 million, despite 39% growth excluding the Genentech agreement.
  • Moderate pointThird-quarter Immune Medicine revenue declined 70% to $11.3 million, despite 229% growth excluding the Genentech agreement.
  • Moderate pointThird-quarter net income declined to $2.8 million from $9.5 million a year earlier.
  • Moderate pointThird-quarter adjusted EBITDA declined to $14.3 million from $28.0 million a year earlier.
  • Moderate pointThird-quarter Immune Medicine net loss was $434,000, versus $18.182 million income a year earlier.
  • Moderate pointThird-quarter Immune Medicine adjusted EBITDA declined to $3.238 million from $24.111 million a year earlier.
  • Moderate pointNine-month net loss attributable to Adaptive widened to $56.945 million from $45.920 million a year earlier.
  • Moderate pointNine-month revenue interest liability extinguishment produced a $23.733 million loss.
  • Moderate pointConvertible senior notes, net, totaled $335.379 million at September 30, versus none at December 31, 2025.
  • Moderate pointCommon shares outstanding increased to 161,566,952 at September 30 from 153,779,418 at December 31, 2025.
12 minor points
  • Minor pointThird-quarter earnings per share declined to $0.02 from $0.06 a year earlier.
  • Minor pointThird-quarter operations produced a $457,000 loss, versus $10.290 million income a year earlier.
  • Minor pointThird-quarter cost of revenue increased to $19.933 million from $18.157 million a year earlier.
  • Minor pointThird-quarter sales and marketing expense increased to $26.896 million from $23.470 million a year earlier.
  • Minor pointThird-quarter general and administrative expense increased to $18.464 million from $17.959 million a year earlier.
  • Minor pointThird-quarter restructuring expense was $743,000, versus none a year earlier.
  • Minor pointNine-month loss per share widened to $0.36 from $0.30 a year earlier.
  • Minor pointNine-month Immune Medicine revenue declined to $20.503 million from $54.848 million a year earlier.
  • Minor pointNine-month Immune Medicine net loss widened to $26.418 million from $4.507 million a year earlier.
  • Minor pointNine-month Immune Medicine adjusted EBITDA fell to a $13.391 million loss from $13.284 million income.
  • Minor pointTotal shareholders’ equity declined to $183.891 million at September 30 from $225.001 million at December 31, 2025.
  • Minor point. Forward-looking: it has not happened yet and may not happen.An additional Medicare bundle for multiple myeloma maintenance testing remains sought through a submitted MolDX technical assessment.

News Explained

Common shares issued and outstanding were 161,566,952 on September 30, 2026, versus 153,779,418 on December 31, 2025, meaning a holder who kept the same number of shares held a smaller proportion of the company at quarter-end.

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Key Figures

Q3 revenue: $83.9 million; 11% decrease Q3 MRD revenue: $72.6 million; 28% increase Adjusted EBITDA: $14.3 million; down from $28.0 million +4 more
Q3 revenue
$83.9 million; 11% decrease
Third quarter 2026 versus prior-year quarter
Q3 MRD revenue
$72.6 million; 28% increase
Third quarter 2026 versus prior-year quarter
Adjusted EBITDA
$14.3 million; down from $28.0 million
Third quarter 2026 versus third quarter 2025
Free cash flow
$7.7 million
Third quarter 2026
2026 MRD revenue guidance
$276 million to $286 million
Raised from the previous range of $268 million to $278 million
clonoSEQ tests delivered
39,587; increase of 46%
Third quarter 2026 versus third quarter 2025
Cash, cash equivalents and marketable securities
$400.2 million
As of September 30, 2026

Previous Earnings Reports

1 past event · Latest: Jul 29
Same Type 1 event
  1. Jul 29

    earnings report

    24h Move
    +7.2%

    Raised 2026 MRD revenue guidance to $268–$278 million

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

adjusted ebitda, free cash flow, minimal residual disease, convertible senior notes
4 terms
adjusted ebitda financial
"adjusted EBITDA of $14.3 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
free cash flow financial
"free cash flow of $7.7 million"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
View in glossary
minimal residual disease medical
"Minimal Residual Disease (MRD) and Immune Medicine"
Minimal residual disease (MRD) is the tiny number of cancer cells that remain in the body after treatment, often too few to show up on standard scans but detectable with very sensitive tests. For investors, MRD is important because it predicts the risk of relapse and can determine whether a therapy is seen as effective, influences regulatory and reimbursement decisions, and affects the size and timing of a drug’s market opportunity—like spotting the last weeds that can make a garden regrow if not removed.
convertible senior notes financial
"Convertible senior notes, net"
Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEATTLE, Nov. 04, 2026 (GLOBE NEWSWIRE) --  Adaptive Biotechnologies Corporation (“Adaptive Biotechnologies”) (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 reported financial results for the quarter ended September 30, 2026.

“Adaptive achieved total company profitability ahead of expectations in Q3 and delivered 44% growth in core MRD revenue,” said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. “This momentum supports another increase in our full year outlook. Updated guidelines and a new definition of cure for multiple myeloma amplify the need for MRD testing and bolster clonoSEQ’s long-term potential.”

Recent Highlights

  • Achieved total company profitability in the third quarter of 2026 with adjusted EBITDA of $14.3 million and free cash flow of $7.7 million.
  • Generated revenue of $83.9 million in the third quarter of 2026. MRD revenue increased 28%, or 44% excluding milestones, versus the third quarter of 2025.
  • Delivered 39,587 clonoSEQ® tests in the third quarter of 2026, an increase of 46% versus the third quarter of 2025.
  • Submitted a technical assessment to MolDX seeking an additional Medicare bundle for maintenance testing in multiple myeloma.
  • NCCN Guidelines® established a dedicated framework for MRD assessment in multiple myeloma, including annual testing during maintenance.
  • The International Myeloma Working Group introduced the first definition of cure for multiple myeloma, requiring a five-year treatment-free period with sustained MRD negativity assessed at a sensitivity of one myeloma cell among one million cells.
  • Recognized revenue from successful data delivery under our target discovery agreement and are progressing with the Immune Medicine separation process.
  • Adaptive raised full year 2026 MRD revenue guidance to a range of $276 million to $286 million, representing annual growth of 30% to 35%.

Third Quarter 2026 Financial Results

Revenue was $83.9 million for the quarter ended September 30, 2026, representing an 11% decrease from the third quarter in the prior year. Excluding revenue recognized under the Genentech Agreement, which did not generate revenue in the quarter ended September 30, 2026, revenue for the current quarter increased 39% from the third quarter in the prior year. MRD revenue was $72.6 million for the quarter, representing a 28% increase from the third quarter in the prior year. Immune Medicine revenue was $11.3 million for the quarter, representing a 70% decrease from the third quarter in the prior year. Excluding revenue generated from the Genentech Agreement, Immune Medicine revenue for the quarter ended September 30, 2026 increased 229% from the third quarter in the prior year.

Operating expenses for the third quarter of 2026 were $84.4 million, compared to $83.7 million in the third quarter of the prior year, representing an increase of 1%.

Interest and other income, net was $3.8 million for the third quarter of 2026, compared to $2.2 million in the third quarter of the prior year. Interest expense was $0.5 million for the third quarter of 2026, compared to $3.0 million in the third quarter of the prior year.

Net income was $2.8 million for the third quarter of 2026, compared to $9.5 million for the same period in 2025. Excluding revenue generated from the Genentech Agreement, net loss was $24.2 million for the third quarter of 2025.

Adjusted EBITDA (non-GAAP) was $14.3 million for the third quarter of 2026, compared to $28.0 million for the third quarter of the prior year. Excluding revenue generated from the Genentech Agreement, Adjusted EBITDA was a loss of $5.8 million for the third quarter of 2025.

Cash, cash equivalents and marketable securities was $400.2 million as of September 30, 2026, inclusive of $13.8 million of cash and cash equivalents held by Digital Biotechnologies, Inc.

2026 Updated Financial Guidance

Adaptive Biotechnologies expects full year revenue for the MRD business to be between $276 million and $286 million, updated from the previous range between $268 million and $278 million. No revenue guidance is provided for the Immune Medicine business.

We expect full year total company operating expenses, including cost of revenue, to be approximately $350 million, updated from the previous range between $350 million and $355 million.

Management will provide further details on the outlook during the conference call.

Webcast and Conference Call Information

Adaptive Biotechnologies will host a conference call to discuss its third quarter 2026 financial results after market close on Wednesday, November 4, 2026 at 4:30 PM Eastern Time. The conference call can be accessed at http://investors.adaptivebiotech.com. The webcast will be archived and available for replay at least 90 days after the event.

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.

Forward-Looking Statements

This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts and other matters regarding our business strategies, use of capital, results of operations and financial position and plans and objectives for future operations. 

In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms 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. 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.

Use of Non-GAAP Financial Measure

To supplement our unaudited condensed consolidated statements of operations and unaudited condensed consolidated balance sheets, which are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), this press release also includes references to Adjusted EBITDA, which is a non-GAAP financial measure that we define as net income (loss) attributable to Adaptive Biotechnologies Corporation adjusted for interest and other income, net, interest expense, income tax (expense) benefit, depreciation and amortization expense, impairment costs for long-lived assets, restructuring expense, share-based compensation expense and revenue interest liability extinguishment loss. We define our segment Adjusted EBITDA in the same way to the extent the net income (loss) attributable to Adaptive Biotechnologies Corporation and adjustments are allocable to each segment. We have provided reconciliations of net income (loss) attributable to Adaptive Biotechnologies Corporation, the most directly comparable GAAP financial measure, to Adjusted EBITDA at the end of this press release.

Management uses Adjusted EBITDA, including segment Adjusted EBITDA, to evaluate the financial performance of our business and segments and to evaluate the effectiveness of our strategies. We present these figures because we believe they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry and they facilitate comparisons on a consistent basis across reporting periods. Further, we believe it is helpful in highlighting trends in our operating results because it excludes items that are not indicative of our core operating performance.

Adjusted EBITDA, including segment Adjusted EBITDA, has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. We may in the future incur expenses similar to the adjustments we make. In particular, we expect to incur meaningful share-based compensation expense in the future. Other limitations include that Adjusted EBITDA, including segment Adjusted EBITDA, does not reflect:

  • all expenditures or future requirements for capital expenditures or contractual commitments;
  • changes in our working capital needs;
  • interest income and interest expense, which is an ongoing element of our costs to operate;
  • income tax (expense) benefit, which may be a necessary element of our costs and ability to operate;
  • the costs of replacing the assets being depreciated and amortized, which will often have to be replaced in the future;
  • the noncash component of employee compensation expense;
  • long-lived assets impairment costs; and
  • the impact of earnings or charges resulting from matters we consider not to be reflective, on a recurring basis, of our ongoing operations, such as our restructuring activities, reductions in workforce and our revenue interest liability extinguishment loss.

In addition, Adjusted EBITDA, including segment Adjusted EBITDA, may not be comparable to similarly titled measures used by other companies in our industry or across different industries.

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



Adaptive Biotechnologies
Condensed Consolidated Statements of Operations
(in thousands, except share and per share amounts)
(unaudited)

 
       
  Three Months Ended September 30,  Nine Months Ended September 30, 
  2026  2025  2026  2025 
Revenue $83,902  $93,973  $226,329  $205,295 
Operating expenses            
Cost of revenue  19,933   18,157   58,806   53,135 
Research and development  18,638   23,669   61,414   72,006 
Sales and marketing  26,896   23,470   79,656   70,090 
General and administrative  18,464   17,959   60,616   53,144 
Amortization of intangible assets  428   428   1,270   1,270 
Total operating expenses  84,359   83,683   261,762   249,645 
(Loss) income from operations  (457)  10,290   (35,433)  (44,350)
Interest and other income, net  3,766   2,226   8,102   7,296 
Interest expense  (503)  (2,971)  (6,086)  (8,824)
Loss on revenue interest liability extinguishment  —   —   (23,733)  — 
Net income (loss)  2,806   9,545   (57,150)  (45,878)
Add: Net loss (income) attributable to noncontrolling interests  70   1   205   (42)
Net income (loss) attributable to Adaptive Biotechnologies Corporation $2,876  $9,546  $(56,945) $(45,920)
Net income (loss) per share attributable to Adaptive Biotechnologies Corporation common shareholders, basic and diluted $0.02  $0.06  $(0.36) $(0.30)
Weighted-average shares used in computing net income (loss) per share attributable to Adaptive Biotechnologies Corporation common shareholders            
Basic  160,400,525   152,432,307   158,610,150   151,248,398 
Diluted  186,879,656   163,162,107   158,610,150   151,248,398 



Adaptive Biotechnologies

Condensed Consolidated Balance Sheets
(in thousands, except share and per share amounts)
 
       
  September 30, 2026  December 31, 2025 
  (unaudited)    
Assets      
Current assets      
Cash and cash equivalents $75,615  $70,495 
Short-term marketable securities (amortized cost of $223,807 and $156,246, respectively)  223,339   156,485 
Accounts receivable, net  66,671   50,365 
Inventory  10,055   9,820 
Prepaid expenses and other current assets  17,008   13,020 
Total current assets  392,688   300,185 
Long-term assets      
Property and equipment, net  27,971   34,107 
Operating lease right-of-use assets  37,990   40,616 
Long-term marketable securities (amortized cost of $102,044 and $13,220, respectively)  101,227   13,234 
Restricted cash  2,705   2,689 
Intangible assets, net  456   1,726 
Goodwill  118,972   118,972 
Other assets  1,111   1,207 
Total assets $683,120  $512,736 
Liabilities and shareholders’ equity      
Current liabilities      
Accounts payable $6,527  $6,467 
Accrued liabilities  8,201   7,700 
Accrued compensation and benefits  15,107   16,992 
Current portion of operating lease liabilities  9,137   8,920 
Current portion of deferred revenue  59,995   45,194 
Current portion of revenue interest liability, net  —   4,642 
Total current liabilities  98,967   89,915 
Long-term liabilities      
Operating lease liabilities, less current portion  64,455   70,228 
Deferred revenue, less current portion  408   1,006 
Revenue interest liability, net, less current portion  —   126,566 
Convertible senior notes, net  335,379   — 
Other long-term liabilities  20   20 
Total liabilities  499,229   287,735 
Commitments and contingencies      
Shareholders’ equity      
Preferred stock: $0.0001 par value, 10,000,000 shares authorized at September 30, 2026 and December 31, 2025; no shares issued and outstanding at September 30, 2026 and December 31, 2025  —   — 
Common stock: $0.0001 par value, 340,000,000 shares authorized at September 30, 2026 and December 31, 2025; 161,566,952 and 153,779,418 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively  16   15 
Additional paid-in capital  1,597,750   1,581,848 
Accumulated other comprehensive (loss) gain  (1,285)  253 
Accumulated deficit  (1,420,268)  (1,363,323)
Total Adaptive Biotechnologies Corporation shareholders’ equity  176,213   218,793 
Noncontrolling interests  7,678   6,208 
Total shareholders’ equity  183,891   225,001 
Total liabilities and shareholders’ equity $683,120  $512,736 
         


Adjusted EBITDA

The following is a reconciliation of net income (loss) attributable to Adaptive Biotechnologies Corporation, the most directly comparable GAAP financial measure, to Adjusted EBITDA for the periods presented (in thousands, unaudited):

  Three Months Ended
September 30,
  Nine Months Ended
September 30,
 
  2026  2025  2026  2025 
Net income (loss) attributable to Adaptive Biotechnologies Corporation $2,876  $9,546  $(56,945) $(45,920)
Interest and other income, net  (3,766)  (2,226)  (8,102)  (7,296)
Interest expense  503   2,971   6,086   8,824 
Depreciation and amortization expense  3,606   4,405   11,138   13,638 
Impairment of long-lived assets  —   —   347   — 
Restructuring expense  743   —   1,463   — 
Share-based compensation expense  10,386   13,257   33,433   38,763 
Loss on revenue interest liability extinguishment  —   —   23,733   — 
Adjusted EBITDA $14,348  $27,953  $11,153  $8,009 
                 

Segment Information (Including Segment Adjusted EBITDA)

The following sets forth segment information for the periods presented (in thousands, unaudited):

  Three Months Ended September 30,  Nine Months Ended September 30, 
  2026  2025  2026  2025 
MRD:            
Revenue $72,565  $56,788  $205,826  $150,447 
Adjusted EBITDA  15,119   6,965   36,373   4,766 
Reconciliation of Net Income (Loss) to Adjusted EBITDA:            
Net income (loss) $6,483  $(2,042) $10,227  $(21,460)
Depreciation and amortization expense  2,475   2,470   7,265   7,588 
Impairment of long-lived assets  —   —   —   — 
Restructuring expense  —   —   325   — 
Share-based compensation expense  6,161   6,537   18,556   18,638 
Adjusted EBITDA $15,119  $6,965  $36,373  $4,766 
             
Immune Medicine(1):            
Revenue $11,337  $37,185  $20,503  $54,848 
Adjusted EBITDA  3,238   24,111   (13,391)  13,284 
Reconciliation of Net (Loss) Income to Adjusted EBITDA:            
Net (loss) income $(434) $18,182  $(26,418) $(4,507)
Depreciation and amortization expense  665   1,470   2,496   4,678 
Impairment of long-lived assets  —   —   347   — 
Restructuring expense  712   —   1,107   — 
Share-based compensation expense  2,295   4,459   9,077   13,113 
Adjusted EBITDA $3,238  $24,111  $(13,391) $13,284 

(1) Expenses related to Digital Biotechnologies, Inc. are no longer included in the Immune Medicine segment.


FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Adaptive Biotechnologies’ third-quarter 2026 revenue and earnings?

Adaptive reported $83.9 million in revenue and $2.8 million in net income for the quarter ended September 30, 2026. Revenue decreased 11% year over year, while net income fell from $9.5 million. Basic and diluted earnings per share were $0.02, versus $0.06 a year earlier.

What is Adaptive Biotechnologies’ updated 2026 MRD revenue guidance?

Adaptive expects full-year 2026 MRD revenue of $276 million to $286 million, up from its previous range of $268 million to $278 million. The updated outlook represents annual growth of 30% to 35%.

What additional Medicare coverage is Adaptive seeking for multiple myeloma testing?

Adaptive submitted a technical assessment to MolDX seeking an additional Medicare bundle for maintenance testing in multiple myeloma. The submission seeks additional coverage; it is not a disclosed approval.

What multiple myeloma MRD testing guideline changes did Adaptive highlight?

NCCN Guidelines established a dedicated framework for MRD assessment in multiple myeloma, including annual testing during maintenance. Separately, the International Myeloma Working Group introduced a definition of cure requiring a five-year treatment-free period with sustained MRD negativity assessed at a sensitivity of one myeloma cell among one million cells.

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