Buy Or Sell Opportunity • Jun 05
Now 20% undervalued Over the last 90 days, the stock has risen 14% to US$16.90. The fair value is estimated to be US$21.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 45% per annum over the same time period. Live News • Jun 05
Adaptive Biotechnologies Showcases clonoSEQ MRD Growth as Revenue Rises 35% and Profitability Targets Near Adaptive Biotechnologies highlighted its clonoSEQ measurable residual disease (MRD) test in 33 presentations at the ASCO and EHA 2026 conferences, reinforcing its use across multiple blood cancers such as multiple myeloma and chronic lymphocytic leukemia.
The company reported that its MRD testing business is profitable and is targeting positive adjusted EBITDA in 2025 and positive free cash flow by the end of 2026.
Q1 2026 total revenue rose 35% year over year, with the MRD segment contributing 95% of revenue and rising 53% compared with Q1 2025, prompting an increase in full-year 2026 MRD revenue guidance.
The combination of strong clinical visibility for clonoSEQ and a business mix heavily skewed to MRD testing provides a clearer view of where most of the company’s current economic engine sits.
Investors may wish to monitor execution against the profitability and cash flow targets, as well as how dependence on a single segment affects risk if MRD growth or adoption patterns change. Announcement • May 30
Adaptive Biotechnologies Corporation Reports New Data Reinforcing Pivotal Role of clonoSEQ MRD Testing Across Hematology Clinical Practice and Research Adaptive Biotechnologies Corporation announced that its next-generation sequencing (NGS)-based clonoSEQ test for measurable residual disease (MRD) assessment will be included in 33 presentations, including one plenary session and 14 oral presentations, across the American Society of Clinical Oncology (ASCO) Annual Meeting, taking place May 29-June 3 in Chicago, and the European Hematology Association (EHA) Congress, taking place June 11-14 in Stockholm. Data at ASCO and EHA this year continue to reinforce clonoSEQ’s role in modern hematologic oncology care — as the gold standard for assessing depth of response, longitudinal disease monitoring, and MRD-guided treatment decision-making. Across hematologic malignancies, these studies highlight how MRD measured by clonoSEQ continues to be broadly incorporated into both research and clinical practice: Multiple myeloma: Highly sensitive MRD testing continues to demonstrate depth and durability of response across novel therapies, including follow-up data from the inMMyCAR trial of CAR T-cell therapy and bispecific antibody data from MONUMENTAL-3. In addition, a final analysis from the CEPHEUS trial, the basis for the first-ever FDA approval based on an MRD endpoint, showed higher rates of sustained MRD negativity in patients treated with quadruplet regimen daratumumab plus VRd (bortezomib, lenalidomide, and dexamethasone). Chronic lymphocytic leukemia (CLL): MRD is being incorporated into decisions around therapy duration and discontinuation in studies including BOVen-?MRD400 and venetoSTOP, the latter demonstrating that personalized venetoclax treatment duration based on uMRD5 status leads to durable treatment-free remissions. Acute lymphoblastic leukemia (ALL): In a Phase 2 study evaluating dose-adjusted EPOCH with rituximab and tafasitamab, MRD assessment with clonoSEQ continues to outperform flow cytometry in detecting residual disease and predicting patient outcomes and can be used to assess disease burden in cerebrospinal fluid. Lymphoma: clonoSEQ leverages sensitivity and specificity to support MRD testing in real-world and clinical trial settings across multiple major lymphoma subtypes, including diffuse large B-cell lymphoma (DLBCL), mantle cell lymphoma (MCL), and follicular lymphoma (FL). At EHA this year, new data further expand the evidence base for highly sensitive, next-generation sequencing–based MRD assessment and underscore the increasingly global nature of clonoSEQ’s reach and impact. Across Europe, growing momentum behind MRD-guided care is being driven, in part, by increasing biopharmaceutical industry investment in interventional studies that incorporate MRD into treatment decisions. clonoSEQ is the first and only FDA-cleared in vitro diagnostic (IVD) test for detecting and tracking minimal (or measurable) residual disease (MRD) in patients with multiple myeloma (MM) or B-cell acute lymphoblastic leukemia (B-ALL) using bone marrow, and in patients with chronic lymphocytic leukemia (CLL) using blood or bone marrow. clonoSEQ is also available in diffuse large B-cell lymphoma (DLBCL), mantle cell lymphoma (MCL) and other lymphoid cancers and specimen types as a CLIA-validated laboratory developed test (LDT). clonoSEQ is covered by Medicare for MM, CLL, ALL, DLBCL and MCL. clonoSEQ identifies and quantifies DNA sequences in malignant cells—detecting one cancer cell in one million healthy cells—to help clinicians and researchers assess and monitor MRD with precision over time. It delivers standardized, sensitive results that inform treatment decisions, predict outcomes, and detect relapses earlier. clonoSEQ is CE-marked under the EU In Vitro Diagnostic Regulation (IVDR). New Risk • May 11
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$50m Forecast net loss in 3 years: US$13m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$13m net loss in 3 years). Significant insider selling over the past 3 months (US$16m sold). Reported Earnings • May 06
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: US$0.13 loss per share (improved from US$0.20 loss in 1Q 2025). Revenue: US$70.9m (up 35% from 1Q 2025). Net loss: US$20.0m (loss narrowed 33% from 1Q 2025). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Breakeven Date Change • May 06
Forecast to breakeven in 2028 The 8 analysts covering Adaptive Biotechnologies expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 18% per year to 2027. The company is expected to make a profit of US$1.35m in 2028. Average annual earnings growth of 41% is required to achieve expected profit on schedule. Announcement • Apr 27
Adaptive Biotechnologies Corporation, Annual General Meeting, Jun 05, 2026 Adaptive Biotechnologies Corporation, Annual General Meeting, Jun 05, 2026. Announcement • Apr 16
Adaptive Biotechnologies Corporation to Report Q1, 2026 Results on May 05, 2026 Adaptive Biotechnologies Corporation announced that they will report Q1, 2026 results After-Market on May 05, 2026 Recent Insider Transactions Derivative • Feb 28
Co-Founder notifies of intention to sell stock Chad Robins intends to sell 183k shares in the next 90 days after lodging an Intent To Sell Form on the 27th of February. If the sale is conducted around the recent share price of US$16.02, it would amount to US$2.9m. For the year to December 2019, Chad's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Chad's direct individual holding has decreased from 2.96m shares to 1.60m. Company insiders have collectively sold US$11m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Feb 12
Consensus estimates of losses per share improve by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$267.4m to US$282.4m. EPS estimate increased from -US$0.572 per share to -US$0.485 per share. Life Sciences industry in the US expected to see average net income growth of 15% next year. Consensus price target up from US$20.14 to US$20.86. Share price fell 5.6% to US$15.54 over the past week. Reported Earnings • Feb 06
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: US$0.39 loss per share (improved from US$1.08 loss in FY 2024). Revenue: US$277.0m (up 55% from FY 2024). Net loss: US$59.5m (loss narrowed 63% from FY 2024). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Feb 06
Adaptive Biotechnologies Corporation Provides Earnings Guidance for 2026 Adaptive Biotechnologies Corporation provided earnings guidance for 2026. For the period, Adaptive Biotechnologies expects full year revenue for the MRD business to be between $255 millionand $265 million. No revenue guidance is provided for the Immune Medicine business. Recent Insider Transactions Derivative • Feb 03
Co-Founder notifies of intention to sell stock Chad Robins intends to sell 125k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of February. If the sale is conducted around the recent share price of US$18.39, it would amount to US$2.3m. For the year to December 2019, Chad's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Chad's direct individual holding has decreased from 2.96m shares to 1.72m. Company insiders have collectively sold US$13m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Jan 23
Adaptive Biotechnologies Corporation to Report Q4, 2025 Results on Feb 05, 2026 Adaptive Biotechnologies Corporation announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Feb 05, 2026 Recent Insider Transactions Derivative • Jan 15
Chief People Officer exercised options and sold US$797k worth of stock On the 12th of January, Francis Lo exercised 80k options at a strike price of around US$3.99 and sold these shares for an average price of US$14.01 per share. This trade did not impact their existing holding. Since March 2025, Francis' direct individual holding has decreased from 335.35k shares to 318.48k. Company insiders have collectively sold US$13m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jan 06
Co-Founder notifies of intention to sell stock Chad Robins intends to sell 125k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of January. If the sale is conducted around the recent share price of US$16.17, it would amount to US$2.0m. For the year to December 2019, Chad's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Chad's direct individual holding has decreased from 2.96m shares to 1.85m. Company insiders have collectively sold US$12m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Dec 19
Chief People Officer exercised options and sold US$893k worth of stock On the 15th of December, Francis Lo exercised 97k options at a strike price of around US$3.99 and sold these shares for an average price of US$13.19 per share. This trade did not impact their existing holding. Since March 2025, Francis has owned 335.35k shares directly. Company insiders have collectively sold US$12m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Dec 14
Independent Director recently sold US$367k worth of stock On the 10th of December, Robert Hershberg sold around 23k shares on-market at roughly US$16.00 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.5m more than they bought in the last 12 months. Announcement • Dec 06
Adaptive Biotechnologies Corporation Showcases Leadership in Hematology-Oncology MRD with New clonoSEQ Data Driving Treatment Interventions at 2025 ASH Annual Meeting Adaptive Biotechnologies Corporation announced growing interventional use of its clonoSEQ test among the 90 abstracts featuring clonoSEQ data at the 67th American Society of Hematology (ASH) Annual Meeting and Exposition, taking place Dec. 6-9, 2025, in Orlando. Notably, 17 abstracts utilizing Adaptive's clonoSEQ test exemplify how next-generation sequencing-based measurable residual disease (MRD) status is guiding clinical actions to improve blood cancer patient care. The presentations below show how investigators are applying clonoSEQ MRD results to tailor treatment intensity or duration with greater precision. Multiple Myeloma (MM). A total of 32 abstracts will be presented (31 MM, one smoldering MM), with a focus on MRD assessment of treatment response, real-world data demonstrating the link between MRD status and clinical outcomes, and several studies describing how clonoSEQ MRD Results are being used to guide treatment decisions. A presentation focused on MRD dynamics in the phase III AURIGA study of 200 newly diagnosed MM patients demonstrated that deep MRD responses and sustained MRD negativity correlated with improved progression free survival. The study shows that use of intensified maintenance in MRD-positive patients post-transplant doubled MRD negativity rates (oral presentation, abstract 97). Non-Hodgkin Lymphoma (NHL). Fifteen abstracts in NHL will be presented, focusing on use of MRD to better understand depth of response and to guide therapy. New Risk • Dec 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$33m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Recent Insider Transactions Derivative • Nov 20
Insider notifies of intention to sell stock Sharon Benzeno intends to sell 96k shares in the next 90 days after lodging an Intent To Sell Form on the 19th of November. If the sale is conducted around the recent share price of US$13.75, it would amount to US$1.3m. Since March 2025, Sharon's direct individual holding has decreased from 392.72k shares to 95.93k. Company insiders have collectively sold US$5.6m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Nov 12
Consensus estimates of losses per share improve by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$239.4m to US$256.0m. EPS estimate increased from -US$0.678 per share to -US$0.493 per share. Life Sciences industry in the US expected to see average net income growth of 16% next year. Consensus price target up from US$17.14 to US$18.57. Share price fell 18% to US$14.50 over the past week. Price Target Changed • Nov 11
Price target increased by 8.3% to US$18.57 Up from US$17.14, the current price target is an average from 7 analysts. New target price is 28% above last closing price of US$14.53. Stock is up 145% over the past year. The company is forecast to post a net loss per share of US$0.49 next year compared to a net loss per share of US$1.08 last year. Recent Insider Transactions Derivative • Nov 11
Co-Founder notifies of intention to sell stock Chad Robins intends to sell 86k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of November. If the sale is conducted around the recent share price of US$14.71, it would amount to US$1.3m. For the year to December 2018, Chad's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Chad's direct individual holding has decreased from 2.96m shares to 2.10m. Company insiders have collectively sold US$5.6m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$0.063 (up from US$0.22 loss in 3Q 2024). Revenue: US$94.0m (up 102% from 3Q 2024). Net income: US$9.55m (up US$41.6m from 3Q 2024). Profit margin: 10% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 45%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year and the company’s share price has also increased by 20% per year. Announcement • Nov 06
Adaptive Biotechnologies Corporation Updates Earnings Guidance for the Full Year 2025 Adaptive Biotechnologies Corporation updates earnings guidance for the full year 2025. The company expected full year revenue for the MRD business to be between $202 million and $207 million, updated from the previous range between $190 million and $200 million. No revenue guidance is provided for the Immune Medicine business. Announcement • Oct 16
Adaptive Biotechnologies Corporation to Report Q3, 2025 Results on Nov 05, 2025 Adaptive Biotechnologies Corporation announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Major Estimate Revision • Aug 12
Consensus estimates of losses per share improve by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$218.3m to US$227.7m. EPS estimate increased from -US$0.846 per share to -US$0.761 per share. Life Sciences industry in the US expected to see average net income growth of 15% next year. Consensus price target up from US$12.14 to US$14.00. Share price rose 15% to US$12.66 over the past week. Price Target Changed • Aug 06
Price target increased by 7.2% to US$12.71 Up from US$11.86, the current price target is an average from 7 analysts. New target price is 8.8% above last closing price of US$11.69. Stock is up 179% over the past year. The company is forecast to post a net loss per share of US$0.76 next year compared to a net loss per share of US$1.08 last year. Announcement • Aug 06
Adaptive Biotechnologies Corporation Updates Financial Guidance for the Full Year 2025 Adaptive Biotechnologies Corporation updated financial guidance for the full year 2025. For the year, the company expects full year revenue for the MRD business to be between $190 million and $200 million, updated from the previous range between $180 million and $190 million. No revenue guidance is provided for the Immune Medicine busine. Announcement • Jul 16
Adaptive Biotechnologies Corporation to Report Q2, 2025 Results on Aug 05, 2025 Adaptive Biotechnologies Corporation announced that they will report Q2, 2025 results After-Market on Aug 05, 2025 Announcement • May 30
Adaptive Biotechnologies Highlights New Data at 2025 ASCO Annual Meeting and EHA 2025 Congress Demonstrating How clonoSEQ® MRD Assessment is Optimizing Patient Care and Drug Development in Lymphoid Cancers Adaptive Biotechnologies Corporation announced that its next-generation sequencing (NGS)-based clonoSEQ®? test for measurable residual disease (MRD) assessment will be included in 30 presentations, including a total of 14 oral presentations, across the American Society of Clinical Oncology (ASCO) Annual Meeting taking place May 30-June 3 in Chicago and the European Hematology Association (EHA) Congress taking place June 12-15 in Milan. Data to be presented at ASCO: Presentation Type and Number Title Presentation Timing B-Cell Acute Lymphoblastic Leukemia. Initial results from a phase II study of dose-adjusted etoposide, prednisone, vincristine, Sunday, June 1, 6540 cyclophosphamide, and doxorubicin (DA-EPOCH) + rituximab (R) + tafasitamab (tafa) for adults 9 a.m.-12 p.m. CDT with newly-diagnosed (ND) Philadelphia chromosome negative (Ph-) B lymphoblastic leukemia (B-ALL). Brexucabtagene autoleucel (Brexu-cel) as consolidation treatment in adults with B-cell acute Sunday, June 1, 6543 lymphoblastic leukemia 9 a.m.-12p.m. CDT Multiple Myeloma: Multiple Myeloma: Primary endpoints of Tuesday, June 3, 7501 lenalidomide (DR) maintenance in transplant-eligible (TE) patients with newly diagnosed multiple. Price Target Changed • May 04
Price target increased by 8.8% to US$10.57 Up from US$9.71, the current price target is an average from 7 analysts. New target price is 7.4% above last closing price of US$9.84. Stock is up 227% over the past year. The company is forecast to post a net loss per share of US$0.83 next year compared to a net loss per share of US$1.08 last year. Reported Earnings • May 02
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$0.20 loss per share (improved from US$0.33 loss in 1Q 2024). Revenue: US$52.4m (up 25% from 1Q 2024). Net loss: US$29.9m (loss narrowed 37% from 1Q 2024). Revenue exceeded analyst estimates by 24%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Announcement • May 02
Adaptive Biotechnologies Corporation Revises Earnings Guidance for 2025 Adaptive Biotechnologies Corporation revised earnings guidance for 2025. For the period, the company expects full year revenue for the MRD business to be between $180 million and $190 million, updated from the previous range between $175 million and $185 million. No revenue guidance is provided for the Immune Medicine business. Announcement • Apr 30
Adaptive Biotechnologies Corporation, Annual General Meeting, Jun 10, 2025 Adaptive Biotechnologies Corporation, Annual General Meeting, Jun 10, 2025. Location: entirely via the internet, United States Announcement • Apr 11
Adaptive Biotechnologies Corporation to Report Q1, 2025 Results on May 01, 2025 Adaptive Biotechnologies Corporation announced that they will report Q1, 2025 results After-Market on May 01, 2025 Recent Insider Transactions Derivative • Mar 11
Independent Director notifies of intention to sell stock Michelle Griffin intends to sell 16k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of March. If the sale is conducted around the recent share price of US$7.94, it would amount to US$124k. Since June 2024, Michelle's direct individual holding has decreased from 51.96k shares to 51.69k. Company insiders have collectively sold US$5.0m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Mar 11
Adaptive Biotechnologies Corporation Launches Assay Enhancements to Increase clonoSEQ Sensitivity for Clinical MRD Detection in Diffuse Large B-Cell Lymphoma Adaptive Biotechnologies Corporation announced that it has launched an upgraded version of its clonoSEQ assay for measurable residual disease (MRD) detection in diffuse large B-cell lymphoma (DLBCL) using circulating tumor DNA (ctDNA). The enhanced clonoSEQ assay, which incorporates an optimized DNA extraction methodology and maximizes sample input, delivers a 7-fold increase in sensitivity. The assay leverages the same powerful technology as prior versions, detecting MRD by reading the full immune receptor sequence of the malignant B cells rather than relying on individual point mutations. Maintaining this proprietary approach enables improvements in sensitivity while preserving the exquisite specificity that minimizes risk of overtreatment due to false positives. The enhanced assay was previously made available for research use in November 2023 and is already being incorporated into both biopharma-sponsored and investigator-initiated prospective trials. Data generated using this assay and presented at ASH 2024 by Bond and colleagues demonstrated that in patients for which MRD was assessed by clonoSEQ, MRD negativity post-cycle six was highly prognostic of progression-free survival. clonoSEQ is the first and only DLBCL MRD test available for clinical use. Having secured Medicare coverage for clonoSEQ in DLBCL in July of 2022, Adaptive has since provided MRD testing for more than 2,800 DLBCL patients and was used to manage and inform patient care by over 640 providers in 2024 alone. The New York State Department of Health Clinical Laboratory Evaluation Program (CLEP) recently approved the enhanced version of the clonoSEQ ctDNA assay for the detection and monitoring of MRD in patients with DLBCL. This comes on the heels of the updated National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology for B-Cell Lymphomas, which included language recommending ctDNA testing for MRD assessment for patients with PET-positive DLBCL at end of first-line treatment. Because DLBCL outcomes can vary widely following frontline treatment, the ability of MRD results to accurately risk stratify patients in this setting is critical, as an MRD test can help clinicians differentiate a likely cure from an impending relapse. As the number of clinical trials in DLBCL exploring novel MRD-directed treatment consolidation strategies to reduce relapse rates grows, the role for clonoSEQ as a highly sensitive and specific ctDNA-based test will continue to expand. Recent Insider Transactions • Mar 07
Co-Founder recently sold US$1.6m worth of stock On the 6th of March, Chad Robins sold around 220k shares on-market at roughly US$7.29 per share. This transaction amounted to 6.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Chad's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Feb 14
Co-Founder notifies of intention to sell stock Chad Robins intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of February. If the sale is conducted around the recent share price of US$8.52, it would amount to US$854k. For the year to December 2018, Chad's total compensation was 7% salary and 93% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Chad's direct individual holding has decreased from 2.58m shares to 1.82m. Company insiders have collectively sold US$603k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: US$1.08 loss per share (improved from US$1.56 loss in FY 2023). Revenue: US$179.0m (up 5.1% from FY 2023). Net loss: US$159.5m (loss narrowed 29% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jan 23
Adaptive Biotechnologies Corporation to Report Q4, 2024 Results on Feb 11, 2025 Adaptive Biotechnologies Corporation announced that they will report Q4, 2024 results After-Market on Feb 11, 2025 Price Target Changed • Dec 18
Price target increased by 7.1% to US$7.58 Up from US$7.08, the current price target is an average from 6 analysts. New target price is 27% above last closing price of US$5.97. Stock is up 26% over the past year. The company is forecast to post a net loss per share of US$1.12 next year compared to a net loss per share of US$1.56 last year. Announcement • Dec 09
Adaptive Biotechnologies Announces New Data at the 66th ASH Annual Meeting Highlighting Advances in Mrd Testing with Clonoseq and Its Impact on Blood Cancer Treatment Decisions Adaptive Biotechnologies Corporation announced new data demonstrating the impact of measurable residual disease assessment using Adaptive’s next-generation sequencing-based clonoSEQ test in blood cancer clinical care and drug development. The data are featured in more than 65 abstracts being presented at the 66th Annual Meeting of the American Society of Hematology, taking place December 6-10 in San Diego. Phase 3 data from the ECOG-ACRIN EA4151 trial indicate that autologous hematopoietic cell transplantation (auto-HCT) may not provide additional benefit for mantle cell lymphoma patients in first complete remission who have undetectable minimal residual disease at a sensitivity of 10?6. The findings will be presented in a late-breaking abstract titled, Lack of Benefit of Autologous Hematopoietic Cell Transplantation (auto-HCT) in Mantle Cell Lymphoma Patients (pts) in First Complete Remission with Undetectable Minimal Residual Disease (uMRD): Initial Report from the ECOG-ACRIN EA4151 Phase 3 Randomized Trial (Abstract LBA6). Patients in CR with uMRD at 10?6 sensitivity from peripheral blood were randomized to receive either auto-HCT plus three years of maintenance rituximab or MR alone. Interim analysis, with a median follow-up of 2.7 years, showed no significant difference in overall survival between the two groups, suggesting that auto-HCT may be unnecessary for patients achieving deep remission as measured by highly sensitive MRD assessment. Data from the FELIX study indicate that achieving deep molecular remission, defined as MRD levels below 10?6, correlates with improved outcomes in adult patients with relapsed/refractory B-cell acute lymphoblastic leukemia (B-ALL) treated with obecabtagene autoleucel. These findings were presented in an oral session titled Obecabtagene autoleucel (obe-cel) for Adult Relapsed/Refractory B-Cell Acute Lymphoblastic Leukemia (R/R B-ALL): Deep Molecular Remission May Predict Better Outcomes (Abstract 963). The study found that 84% of treatment responders who had a clonoSEQ MRD test, achieved MRD <10?6. This result was associated with more durable responses, and higher event-free survival and OS rates than those observed in patients with MRD =10-4 and between 10-4 and 10-6. Additional Key clonoSEQ Data Presented at the Meeting: Blinatumomab Added to Chemotherapy Improves Disease-Free Survival in Newly Diagnosed NCI Standard Risk Pediatric B-Acute Lymphoblastic Leukemia: Results from the Randomized Children’s Oncology Group Study AALL1731 (Abstract1). This Phase 3 randomized trial evaluated the addition of blinatumomab to standard chemotherapy in pediatric patients with newly diagnosed standard-risk B-ALL with average or higher risk of relapse. In the SR average cohort, patients that were MRD positive by clonoSEQ were randomized to receive standard chemotherapy with or without blinatumomab. The study found that incorporating blinatumomab significantly improved disease-free survival compared to chemotherapy alone, establishing a new treatment standard for this patient population. Implications of MRD Progression in Newly Diagnosed Multiple Myeloma (NDMM) Treated with Quadruplet Therapy and Autologous Stem Cell Transplantation (Abstract 363). This study identified 49 newly diagnosed multiple myeloma patients treated with a quadruplet regimen followed by autologous stem cell transplantation who experienced MRD progression as assessed by clonoSEQ, or disease progression as defined by the International Myeloma Working Group. The median time from MRD progression to IMWG-defined disease progression was 10.1 months, supporting that rising MRD levels are an early indicator of impending clinical relapse in MM patients. Minimal Residual Disease-Adapted Duration of Front-Line Venetoclax and Obinutuzumab Treatment for Fit Patients with Chronic Lymphocytic Leukemia (Abstract 1010). This Phase 2 study evaluating the use of venetoclax and obinutuzumab in treatment-naïve CLL patients found that those achieving undetectable MRD (<10?6) after nine cycles could discontinue therapy early. These patients had progression-free survival comparable to those who completed the standard 12 cycles, demonstrating the feasibility of MRD-guided treatment duration to minimize therapy exposure without compromising efficacy. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: US$0.22 loss per share (improved from US$0.35 loss in 3Q 2023). Revenue: US$46.4m (up 23% from 3Q 2023). Net loss: US$32.1m (loss narrowed 36% from 3Q 2023). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Announcement • Oct 10
Adaptive Biotechnologies Corporation to Report Q3, 2024 Results on Nov 07, 2024 Adaptive Biotechnologies Corporation announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Announcement • Aug 29
Adaptive Announces IVDR Certification for clonoSEQ® in European Union Adaptive Biotechnologies Corporation announced that clonoSEQ® has received In Vitro Diagnostic Regulation (IVDR) 2017/746 Class C certification in the European Union (EU). The medical diagnostics field has experienced significant technological advancement in recent years, leading the EU to replace its previous regulatory framework, the In Vitro Diagnostics Directive (IVDD), with a more stringent set of standards for quality and safety, known as IVDR. Adaptive worked with EU notified body BSI to complete the certification process and transition the company’s IVDD CE-marked product, the clonoSEQ Assay B-Cell Reagent Set, to this new regulation. clonoSEQ is now the first and only test to receive IVDR certification for the detection of minimal residual disease (MRD) in lymphoid malignancies. clonoSEQ’s intended use under IVDR is broad in scope, allowing for assessment of MRD status and changes in disease burden during and after treatment in patients diagnosed with B-cell malignancies. As MRD testing becomes increasingly adopted in patient care, clonoSEQ provides a powerful and dynamic way to measure risk status for patients with lymphoid malignancies and yields real-time insights into disease progression that can help oncologists provide a more personalized treatment approach. In addition to clinical use, clonoSEQ is the test of choice for MRD assessment among drug developers performing clinical research in hematologic malignancies. The assay has been included in global, label-enabling studies for a multitude of therapies approved by the European Medicines Agency (EMA) and U.S. Food and Drug Administration (FDA) over the past several years. IVDR certification allows Adaptive to meet the clinical trial regulations for testing EU subjects’ samples, and sponsors can seamlessly send clinical trial subjects’ samples from the EU to Adaptive’s Seattle, Washington laboratory. clonoSEQ is well-established as a leading tool in blood cancer MRD assessment, supported by more than 150 peer-reviewed publications and used clinically by more than 3,700 clinicians over the past year. Furthermore, clonoSEQ MRD is currently being utilized in more than 160 active biopharma-sponsored trials. clonoSEQ is available locally in the EU to oncologists through technology transfer partnerships with major academic laboratories. clonoSEQ testing can currently be performed in France by Centre Hospitalier Universitaire (CHU) Toulouse, in Italy by Hospital of Bologna, in Spain by Hospital 12 du Octubre, and in Germany by HPH laboratory. Additional technology transfer partnerships are expected to launch in the EU and surrounding markets later in
2024. Recent Insider Transactions Derivative • Aug 25
Senior VP notifies of intention to sell stock Stacy Taylor intends to sell 27k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of August. If the sale is conducted around the recent share price of US$4.50, it would amount to US$121k. Since March 2024, Stacy has owned 166.29k shares directly. Company insiders have collectively sold US$529k more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Aug 05
Price target increased by 7.9% to US$6.83 Up from US$6.33, the current price target is an average from 6 analysts. New target price is 58% above last closing price of US$4.32. Stock is down 36% over the past year. The company is forecast to post a net loss per share of US$1.23 next year compared to a net loss per share of US$1.56 last year. Reported Earnings • Aug 02
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: US$0.31 loss per share (improved from US$0.33 loss in 2Q 2023). Revenue: US$43.2m (down 12% from 2Q 2023). Net loss: US$46.2m (loss narrowed 3.3% from 2Q 2023). Revenue exceeded analyst estimates by 9.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Announcement • Jul 12
Adaptive Biotechnologies Corporation to Report Q2, 2024 Results on Aug 01, 2024 Adaptive Biotechnologies Corporation announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Price Target Changed • May 09
Price target decreased by 7.3% to US$6.33 Down from US$6.83, the current price target is an average from 6 analysts. New target price is 78% above last closing price of US$3.56. Stock is down 48% over the past year. The company is forecast to post a net loss per share of US$1.29 next year compared to a net loss per share of US$1.56 last year. Reported Earnings • May 08
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: US$0.33 loss per share (improved from US$0.40 loss in 1Q 2023). Revenue: US$41.9m (up 11% from 1Q 2023). Net loss: US$47.5m (loss narrowed 18% from 1Q 2023). Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. New Risk • Apr 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$114m net loss in 3 years). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Significant insider selling over the past 3 months (US$624k sold). Announcement • Apr 28
Adaptive Biotechnologies Corporation, Annual General Meeting, Jun 07, 2024 Adaptive Biotechnologies Corporation, Annual General Meeting, Jun 07, 2024, at 09:00 Pacific Standard Time. Agenda: To elect two Class II director nominees to serve on the board of directors of Adaptive Biotechnologies Corporation for a three-year term expiring at the 2027 annual meeting of shareholders. The two nominees for election to the board of directors are Peter Neupert and Michelle Griffin; to approve, on a non-binding advisory basis, the compensation of our named executive officers as described in the proxy statement; to ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the year ending December 31, 2024; and to conduct any other business properly brought before the meeting or any adjournments thereof. Announcement • Apr 19
Adaptive Biotechnologies Corporation to Report Q1, 2024 Results on May 07, 2024 Adaptive Biotechnologies Corporation announced that they will report Q1, 2024 results After-Market on May 07, 2024 Announcement • Apr 04
Adaptive Biotechnologies Corporation Announces CFO Changes Adaptive Biotechnologies Corporation announced that Tycho Peterson will depart the company as CFO. Kyle Piskel, the company's Principal Accounting Officer, will succeed Peterson as full-time CFO. Piskel served as the company's interim CFO from February to June 2022. 
