Adaptive Biotechnologies (ADPT) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.30. This compares to loss of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.67%. A quarter ago, it was expected that this life-sciences research company would post a loss of $0.32 per share when it actually produced a loss of $0.26, delivering a surprise of 18.75%.Over the last four qu ...

Revenue Performance - Revenue for the three months ended September 30, 2024, was $46,435,000, representing a 22.5% increase from $37,919,000 for the same period in 2023[7]. - Total revenue for the three months ended September 30, 2024, was $46.4 million, a 22.5% increase from $37.9 million in the same period of 2023[24]. - MRD revenue for the three months ended September 30, 2024, was $37.5 million, up 51.6% from $24.7 million in the same period of 2023[24]. - Immune Medicine revenue for the three months ended September 30, 2024, was $9.0 million, a decrease of 32.5% from $13.3 million in the same period of 2023[24]. - For the nine months ended September 30, 2024, total revenue was $131,498,000, with MRD revenue at $105,380,000 and Immune Medicine revenue at $26,118,000[59]. - Total MRD revenue for the nine months ended September 30, 2024, was $105.4 million, representing a 46% increase compared to $71.9 million in 2023[85]. Expenses and Losses - Total operating expenses for the three months ended September 30, 2024, were $79,067,000, down from $88,875,000 in the same period of 2023, a decrease of 10.2%[7]. - Net loss attributable to Adaptive Biotechnologies Corporation for the three months ended September 30, 2024, was $(32,071,000), an improvement from $(50,300,000) in the same period of 2023, reflecting a 36.2% reduction in losses[7]. - The company reported a comprehensive loss of $(31,392,000) for the three months ended September 30, 2024, compared to $(49,657,000) for the same period in 2023, indicating a 36.8% improvement[8]. - The net loss for the nine months ended September 30, 2024, was $125,878,000, compared to a net loss of $155,837,000 for the same period in 2023, indicating a reduction in losses[12]. - The company recognized $9.1 million in restructuring costs during the nine months ended September 30, 2024, primarily related to one-time termination benefits and impairment charges[50]. Cash and Assets - Cash and cash equivalents decreased to $38,084,000 as of September 30, 2024, down from $65,064,000 at December 31, 2023, a decline of 41.5%[6]. - Total assets decreased to $558,506,000 as of September 30, 2024, compared to $661,134,000 at December 31, 2023, a reduction of 15.6%[6]. - Cash, cash equivalents, and marketable securities as of September 30, 2024, were $267.2 million, down from $346.4 million as of December 31, 2023[62]. - Cash used in operating activities for the nine months ended September 30, 2024, was $82.7 million, down from $129.4 million in the same period in 2023, representing a 36% decrease[102][103]. Shareholder Equity and Stock Options - The company’s additional paid-in capital increased to $1,493,394,000 as of September 30, 2024, compared to $1,452,502,000 at December 31, 2023, an increase of 2.8%[6]. - As of September 30, 2023, total shareholders' equity was $361,637,000, a decrease from $395,967,000 as of June 30, 2023, reflecting a net loss of $50,326,000 during the quarter[10]. - The balance of common shares increased from 144,772,751 as of September 30, 2023, to 147,561,586 as of September 30, 2024, indicating an increase in share issuance[11]. - The stock options outstanding decreased from 12,875,045 shares at December 31, 2023, to 12,411,036 shares at September 30, 2024, with a weighted average exercise price of $15.06[44]. Research and Development - Research and development expenses for the three months ended September 30, 2024, were $24,163,000, down from $28,533,000 in the same period of 2023, a decrease of 15.5%[7]. - Research and development expenses decreased by $4,370,000 to $24,163,000, primarily due to a $3.7 million reduction in personnel costs[78]. - Research and development expenses are expected to decrease in the short term and as a percentage of revenue in the long term[68]. Collaboration and Revenue Recognition - The company entered into a collaboration agreement with Genentech in December 2018, receiving an upfront payment of $300 million and a milestone payment of $10 million in 2023, with potential total payments of up to $1.8 billion[25]. - As of September 30, 2024, the company recognized $3.5 million in collaboration revenue for the quarter and $10 million for the nine months, compared to $8 million and $34.7 million for the same periods in 2023, respectively[26]. - Revenue recognition for the Genentech Agreement is expected to occur over a period of approximately nine years from the effective date[26]. Market and Future Outlook - The company expects long-term growth in MRD revenue through increased clinical testing volume and expanded patient populations[65]. - The Immune Medicine revenue is anticipated to grow as therapies advance toward commercialization, although it may fluctuate due to various factors[66]. - The company expects revenue from current and future products and services to grow over the long term, despite anticipated near-term revenue variability[99].

Revenue Performance - Revenue for Q3 2024 was $46.4 million, a 22% increase from Q3 2023[4] - The MRD business contributed $37.5 million, representing a 52% increase year-over-year[4] - Revenue for the nine months ended September 30, 2024, was $124,492 thousand, compared to $131,498 thousand for the same period in 2023, reflecting a decrease of about 5.3%[20] Test Volume and Pricing - clonoSEQ test volume grew 30% to 19,600 tests delivered compared to Q3 2023[3] - The updated Medicare CLFS Gapfill Determination for clonoSEQ is $2,007 per test, a 17% increase[3] Operating Expenses - Operating expenses decreased by 11% to $79.1 million from $88.9 million in Q3 2023[4] - Operating expenses for the nine months ended September 30, 2024, totaled $280,459 thousand, compared to $260,210 thousand for the same period in 2023, an increase of approximately 7.8%[20] Net Loss and Adjusted EBITDA - Net loss for Q3 2024 was $32.1 million, down from $50.3 million in the same period last year[5] - Adjusted EBITDA loss was $14.3 million, an improvement from a loss of $29.8 million in Q3 2023[6] - Net loss attributable to Adaptive Biotechnologies Corporation for the three months ended September 30, 2024, was $32,071 thousand, compared to a net loss of $50,300 thousand for the same period in 2023, showing an improvement of about 36.2%[16] - Adjusted EBITDA for the nine months ended September 30, 2024, was $(63,926) thousand, compared to $(91,748) thousand for the same period in 2023, indicating an improvement of approximately 30.3%[16] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $267.2 million as of September 30, 2024[6] - Cash and cash equivalents decreased from $65,064 thousand to $38,084 thousand, a reduction of about 41.4%[15] - Total current assets decreased from $410,188 thousand to $308,345 thousand, a decline of approximately 25%[15] - Total assets decreased from $661,134 thousand as of December 31, 2023, to $558,506 thousand as of September 30, 2024, representing a decline of approximately 15.6%[15] Deferred Revenue and Share-based Compensation - The current portion of deferred revenue increased from $48,630 thousand to $51,856 thousand, an increase of approximately 4.6%[15] - Share-based compensation expense for the nine months ended September 30, 2024, was $40,778 thousand, compared to $47,352 thousand for the same period in 2023, a decrease of about 13.9%[20] Immune Medicine Revenue - Immune Medicine revenue was $9.0 million, reflecting a 32% decrease from the prior year[4]

clonoSEQ is the first and only assay to receive Medicare coverage for MRD assessment in MCL Coverage leverages new Medicare episode pricing established based on updated clonoSEQ gapfill rate SEATTLE, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced that Palmetto GBA, a Medicare Administrative Con ...

SEATTLE, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today 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 E ...

Adaptive Second Quarter 2024 Earnings Conference Call This presentation has been prepared by Adaptive Biotechnologies Corporation ("we," "us," "our," "Adaptive" or the "Company") and is made for informational purposes only. The information set forth herein does not purport to be complete or to contain all relevant information. Statements contained herein are made as of the date of this presentation unless stated otherwise. This presentation shall not constitute an offer to sell or the solicitation of an off ...

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Q2 2024 Earnings Conference Call August 1, 2024 4:30 PM ET Company Participants Karina Calzadilla – Head-Investor Relations Chad Robins – Chief Executive Officer and Co-Founder Kyle Piskel – Chief Financial Officer Susan Bobulsky – Chief Commercial Officer-MRD Conference Call Participants Mark Massaro – BTIG David Westenberg – Piper Sandler Tejas Savant – Morgan Stanley Dan Brennan – TD Cowen Andrew Brackmann – William Blair Rachel Vatnsdal – JPMorgan Sung ...

For the quarter ended June 2024, Adaptive Biotechnologies (ADPT) reported revenue of $43.19 million, down 11.7% over the same period last year. EPS came in at -$0.26, compared to -$0.33 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $38.52 million, representing a surprise of +12.13%. The company delivered an EPS surprise of +18.75%, with the consensus EPS estimate being -$0.32. While investors closely watch year-over-year changes in headline numbers -- revenue and ...

Adaptive Biotechnologies (ADPT) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of a loss of $0.32. This compares to loss of $0.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 18.75%. A quarter ago, it was expected that this lifesciences research company would post a loss of $0.35 per share when it actually produced a loss of $0.33, delivering a surprise of 5.71%. Over the last four qu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to _____ Commission File Number: 001-38957 ADAPTIVE BIOTECHNOLOGIES CORPORATION (Exact Name of Registrant as Specified in its Charter) Washington 27-0907024 ...