Adaptive Biotechnologies Stock Price, News & Analysis

Adaptive Biotechnologies (Nasdaq: ADPT) announced a collaboration with GlaxoSmithKline (GSK) to utilize its clonoSEQ® Assay for assessing minimal residual disease (MRD) in GSK's hematology portfolio. The partnership aims to enhance treatment response monitoring and patient outcomes. The clonoSEQ Assay is the only FDA-authorized MRD test for multiple myeloma, chronic lymphocytic leukemia, and B-cell acute lymphoblastic leukemia. Adaptive will receive upfront and potential future milestone payments, though specific financial terms remain undisclosed.

Adaptive Biotechnologies reported $26.3 million in revenue for Q3 2020, reflecting a 25% increase from Q2 2020 and a 1% year-over-year rise. Clinical sequencing volume surged 58%, totaling 4,023 tests. While development revenue grew by 5% to $15 million, sequencing revenue fell by 3% to $11.3 million. Operating expenses rose 44% to $63.3 million, contributing to a net loss of $36.7 million, up from $14 million in Q3 2019. The company refrained from providing financial guidance for 2020 due to ongoing COVID-19 uncertainties.

Adaptive Biotechnologies (Nasdaq: ADPT) will release its third-quarter financial results on November 10, 2020, after market close. The company will host a conference call at 1:30 p.m. PT, with a webcast available via the Investors section of its website. Adaptive focuses on leveraging the adaptive immune system's genetics to develop clinical diagnostics and therapeutics, aiming to address diseases like cancer and autoimmune conditions. The firm currently has two commercial products and an expansive clinical pipeline.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) will participate in the Morgan Stanley Virtual Healthcare Conference on September 15, 2020, at 10:15 a.m. PT / 1:15 p.m. ET. The company aims to decode the adaptive immune system for disease diagnosis and treatment, boasting two commercial products and a strong clinical pipeline. Interested parties can access a live and archived webcast of the presentation via the company's website. Adaptive Biotechnologies is focused on developing immune-driven clinical products tailored to individual patients.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced participation in the UBS Genomics 2.0 and Medtech Innovations Virtual Summit on August 11, 2020. The management team will engage in a fireside chat at 11:00 a.m. Pacific Time, which will also be available via webcast on the company's website. Adaptive Biotechnologies focuses on leveraging the adaptive immune system to create diagnostics and treatments for diseases, including cancer and autoimmune conditions. The company aims to develop tailored immune-driven clinical products, backed by a robust clinical pipeline and two commercial offerings.

Adaptive Biotechnologies has received FDA clearance for its clonoSEQ® Assay, the first assay approved for monitoring minimal residual disease (MRD) in chronic lymphocytic leukemia (CLL) patients using blood samples. This significant advancement expands previous FDA approvals for MRD detection in bone marrow for multiple myeloma and B-cell acute lymphoblastic leukemia (ALL). The assay's sensitivity allows for early detection of cancer recurrence, enhancing patient management. Medicare coverage supports access to this innovative testing method, crucial for the mostly elderly CLL patient population.

Adaptive Biotechnologies (Nasdaq: ADPT) has launched immunoSEQ T-MAP COVID, a proprietary product to measure and track COVID-19 specific T-cell responses in clinical trials. Utilizing data from over 1,000 COVID-19 patients, the platform highlights that T-cell responses can persist for over 90 days post-infection, providing critical insight into immunity. The product leverages the ImmuneCODE database, developed in partnership with Microsoft, to support vaccine trials and therapeutic development, and aims to enhance next-generation vaccine design.

Adaptive Biotechnologies Corp. (Nasdaq: ADPT) announced the launch of ImmuneSense Lyme™, a research study aimed at improving early detection of Lyme disease, which often goes misdiagnosed. The study targets approximately 1,000 participants in areas with high Lyme incidence. Early detection is crucial as current tests have a high false negative rate of 60-70%. The initiative employs AI to analyze immune responses, especially T cells, to enhance diagnostic accuracy. Participants can enroll via local sites or tele-health, fostering broader accessibility.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced the pricing of an underwritten public offering of 8,000,000 shares at $40.00 each, raising gross proceeds of $240 million. The offering includes 6,000,000 shares from Adaptive and 2,000,000 from a selling shareholder, with an option for underwriters to purchase an additional 1,200,000 shares. Proceeds will primarily fund TCR-Antigen Map activities, scale marketing for immunoSEQ Dx products, and support R&D efforts. The transaction is expected to close on July 20, 2020.