Adaptive Biotechnologies Stock Price, News & Analysis

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) will present over 30 abstracts on its clonoSEQ® Assay at the 64th Annual Meeting of the American Society of Hematology (ASH) from December 10-13, 2022. This FDA-cleared assay measures minimal residual disease (MRD) in various blood cancers, including multiple myeloma and chronic lymphocytic leukemia. The data highlights the assay's role in improving patient care through serial MRD testing, which aids in treatment assessment and relapse detection. Key findings will be shared in 12 oral presentations and 21 posters during the event.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) has launched its clonoSEQ Assay for detecting minimal residual disease (MRD) in patients with diffuse large B-cell lymphoma (DLBCL). This test is notable as it is the first MRD test with Medicare coverage for all therapy lines and timepoints. Now accepting blood samples in Streck® tubes, clonoSEQ offers clinicians a precise, less invasive disease monitoring tool. Robust evidence supports its effectiveness in predicting patient relapses, facilitating better and more timely treatment decisions.

Adaptive Biotechnologies (ADPT) reported third quarter 2022 revenue of $47.8 million, marking a 21% increase year-over-year. clonoSEQ test volume surged by 52% compared to Q3 2021. The Immune Medicine segment revenue rose 18% to $27.9 million. Operating expenses decreased to $93.3 million, down 3% from the prior year. The net loss narrowed to $45.3 million, an improvement from $56.0 million in 2021. Adaptive's 2022 guidance reflects revenue expectations of $185-$190 million and reduced operating expenses below $400 million.

Adaptive Biotechnologies has partnered with Epic to integrate the clonoSEQ Assay into Epic's electronic medical record system. This integration aims to enhance monitoring of minimal residual disease (MRD) in blood cancer patients, making access to this FDA-cleared test easier for oncologists. clonoSEQ allows for accurate monitoring of cancer cells during treatment, which is crucial for patient care. The integration is set to go live in 2023, and Adaptive plans to seek further partnerships with other oncology EMR vendors.

Adaptive Biotechnologies (Nasdaq: ADPT) will announce its third-quarter 2022 financial results after market close on November 3, 2022. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, which will be available via live webcast on the company’s website. The company focuses on leveraging the adaptive immune system for clinical products aimed at diagnosing and treating diseases, including cancer and autoimmune disorders. Its proprietary platform is designed to decode the complexities of the immune system, enabling innovative diagnostics and therapeutics.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced a non-dilutive royalty financing agreement with OrbiMed, totaling up to $250 million. This deal aims to bolster Adaptive's balance sheet, which reported over $450 million in cash and marketable securities as of Q2 2022. The initial tranche of $125 million will support corporate purposes, with additional potential tranches of $75 million and $50 million for M&A. OrbiMed will receive a percentage of GAAP revenues, increasing to 10% with full funding. The partnership is designed to extend Adaptive’s cash runway and fuel growth initiatives.

Adaptive Biotechnologies Corporation (Nasdaq: ADPT) announced its participation in the Morgan Stanley Global Healthcare Conference in New York on September 12, 2022. The management team will take part in a fireside chat at 12:30 p.m. Eastern Time. Interested individuals can access a live and archived webcast via the company’s Investors section on their website. Adaptive Biotechnologies focuses on translating the genetics of the adaptive immune system into clinical products for diagnosing and treating various diseases, particularly cancer and autoimmune disorders.

Adaptive Biotechnologies reported a 13% year-over-year revenue increase for Q2 2022, totaling $43.7 million. The clonoSEQ test volume surged 53% compared to Q2 2021. The company's MRD revenue rose 38% to $21.3 million, while Immune Medicine revenue fell 3% to $22.4 million. Operating expenses increased 9% to $96.2 million, causing a net loss of $52.1 million. The firm maintains its full-year revenue guidance of $185 million to $195 million but has lowered expected operating expenses to $410 million to $415 million.

Adaptive Biotechnologies (Nasdaq: ADPT) has announced that clonoSEQ becomes the first assay to receive Medicare coverage for monitoring minimal residual disease (MRD) in patients with diffuse large B-cell lymphoma (DLBCL). This coverage expansion allows approximately 75% of treated DLBCL patients who are Medicare aged to access this test. The clonoSEQ assay utilizes circulating tumor DNA to provide insights on patient responses to treatment, potentially improving overall care. The coverage is effective immediately and complements existing Medicare coverage for other hematological malignancies.