ADPT 8-K: TCR-Antigen Models Progress and $25–$30M Immune Medicine Burn Target

Rhea-AI Filing Summary

Adaptive Biotechnologies Corporation disclosed developments focused on its Immune Medicine initiatives. The filing notes work on TCR-antigen prediction models to enable new immunology applications and partnerships, and progress toward a pre-clinical data package for its lead T-cell depletion program in autoimmunity. The company also states a fiscal year 2025 Immune Medicine cash burn target of $25–$30 million. The filing references recognition of non-cash revenue from remaining amortization of cash consideration under an agreement. The document is dated August 18, 2025.

Insights

Financial Analyst

TL;DR: Strategic R&D progress with a defined FY2025 cash burn target; revenue recognition includes non-cash amortization.

The company is explicitly prioritizing Immune Medicine R&D, investing in TCR-antigen prediction models and advancing a pre-clinical package for a lead T-cell depletion program. The stated FY2025 cash burn target of $25–$30 million gives investors a quantifiable near-term cash outlook for this business unit. The filing also mentions non-cash revenue from amortization, which can affect reported revenue without adding cash. Overall, these items are operationally material for assessing near-term funding needs and R&D progress.

Industry Specialist

TL;DR: Technical progress in TCR modeling and pre-clinical work is notable but preclinical status implies longer time to commercialization.

Development of TCR-antigen prediction models and a pre-clinical data package for T-cell depletion indicate meaningful scientific progress that could support future partnerships or programs. However, the programs remain pre-clinical; therefore, timelines, regulatory risk, and additional funding requirements remain relevant considerations. The explicit cash burn target frames how much capital the company expects to deploy on these efforts in FY2025.

Adaptive Biotechnologies Corp false 0001478320 0001478320 2025-08-13 2025-08-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2025

ADAPTIVE BIOTECHNOLOGIES CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Washington		001-38957		27-0907024
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1165 Eastlake Avenue East
Seattle, Washington		98109
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (206) 659-0067

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, par value $0.0001 per share		ADPT		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.02 Termination of Material Definitive Agreement.

On August 13, 2025, the Strategic Collaboration and License Agreement between Adaptive Biotechnologies Corporation (“Adaptive”) and Genentech, Inc. (“Genentech”), dated as of December 19, 2018 (the “Agreement”), was terminated, with termination effective February 9, 2026. Adaptive and Genentech entered into the Agreement in 2018 to collaborate on research and development of certain cancer cell therapy products.

The parties will wind down activities under the Agreement. Upon termination, Adaptive will be released from exclusivity obligations with respect to cell therapies in oncology.

As a result of the termination, Adaptive expects to recognize $33.7 million during the second half of 2025 in non-cash revenue from the remaining amortization of the cash consideration received under the Agreement.

Adaptive’s ongoing Immune Medicine programs and financial goals continue to focus on: (i) developing and deploying digital TCR-antigen prediction models that enable novel immunology applications and partnering opportunities; (ii) developing a pre-clinical data package for the lead T-cell depletion program in autoimmunity; and (iii) achieving the fiscal year 2025 Immune Medicine cash burn target of $25–$30 million.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						Adaptive Biotechnologies Corporation
Date: August 18, 2025				By:		/s/ Kyle Piskel
						Kyle Piskel Chief Financial Officer