Adaptive Biotechnologies Stock Price, News & Analysis

Adaptive Biotechnologies (Nasdaq: ADPT) has announced that its clonoSEQ® test has received In Vitro Diagnostic Regulation (IVDR) 2017/746 Class C certification in the European Union. This makes clonoSEQ the first IVDR-certified test for detecting minimal residual disease (MRD) in patients with lymphoid malignancies. The certification allows for broad use in assessing MRD status and changes in disease burden for B-cell malignancies.

clonoSEQ is widely adopted in patient care and clinical trials, with over 3,700 clinicians using it clinically in the past year and its inclusion in more than 160 active biopharma-sponsored trials. The test is available in several European countries through technology transfer partnerships with major academic laboratories, with additional partnerships expected later in 2024.

Adaptive Biotechnologies (Nasdaq: ADPT), a commercial stage biotechnology company, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference in New York, NY. The company's management will take part in a fireside chat on Friday, September 6th at 9:20 a.m. Pacific Time / 12:20 p.m. Eastern Time.

Adaptive Biotechnologies focuses on translating the genetics of the adaptive immune system into clinical products for disease diagnosis and treatment. Interested parties can access a live and archived webcast of the presentation through the 'Investors' section of the company's website at www.adaptivebiotech.com.

Adaptive Biotechnologies (Nasdaq: ADPT) reported Q2 2024 financial results, showing a 12% decrease in total revenue to $43.2 million. However, the MRD business grew 36% to $35.3 million, contributing 82% of total revenue. clonoSEQ test volume increased 36% to 18,520 tests. Operating expenses decreased 6% to $90.5 million, including $7.2 million in long-lived assets impairment charges. Net loss was $46.2 million, slightly improved from $47.8 million in Q2 2023. The company updated its 2024 guidance, raising the MRD revenue range to $140-$145 million and reducing expected operating expenses to $340-$350 million. Cash, cash equivalents, and marketable securities stood at $291.9 million as of June 30, 2024.

Adaptive Biotechnologies (Nasdaq: ADPT), a biotechnology firm focused on harnessing the genetics of the adaptive immune system for clinical applications, will announce its Q2 2024 financial results on August 1, 2024, post-market close.

The company will host a webcast conference call at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on the same day to discuss the results. The live audio will be accessible via the 'Investors' section on their website, with an archived replay available within 24 hours after the event.

Adaptive Biotechnologies (Nasdaq: ADPT) announced significant data supporting the clinical benefits of their clonoSEQ® test for measurable residual disease (MRD) assessment across multiple blood cancers. The data will be presented at the 2024 ASCO Annual Meeting and EHA2024 Hybrid Congress.

More than 20 abstracts will highlight clonoSEQ's efficacy in monitoring treatment response, predicting patient outcomes, and aiding in drug development. Key findings include strong correlations between MRD assessments in bone marrow and peripheral blood in pediatric acute lymphoblastic leukemia, and the clinical significance of sustained MRD negativity in multiple myeloma. Evidence from the PERSEUS study shows that patients with MRD negativity experienced improved progression-free survival.

These data underscore clonoSEQ's role as a standard in MRD assessment, providing critical insights for clinicians and researchers in the treatment of blood cancers.

Adaptive Biotechnologies, a commercial-stage biotechnology company focused on the adaptive immune system, announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference. The event will take place in Miami, FL, with a fireside chat scheduled for June 11, 2024, at 10:20 a.m. PT / 1:20 p.m. ET. The webcast of the presentation can be accessed live and archived on the company's website.

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.