SEATTLE, July 01, 2025 (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, and Flatiron Health, a leading healthtech company dedicated to expanding the possibilities of point-of-care solutions in oncology, today announced the integration of Adaptive’s clonoSEQ® test for measurable residual disease (MRD) assessment in lymphoid ma ...

Adaptive Biotechnologies (ADPT) shares soared 12.5% in the last trading session to close at $11.98. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.5% gain over the past four weeks.The sudden rise in price can be attributed to investor optimism related to growing demand and volume growth of Adaptive Biotechnologies’ clonoSEQ, an FDA-cleared diagnostic test used to detect and monitor minimal residual disease (MRD) in patients w ...

Adaptive Biotechnologies (ADPT) FY Conference June 11, 2025 08:40 AM ET Speaker0 Matt Sykes, Life Science Tools and Diagnostics Analyst at Goldman Sachs. This morning, I have the pleasure of welcoming Chad Robbins, Co Founder and CEO of Adaptive Biotechnologies. Chad, thanks very much for being here. Really appreciate Thanks, Speaker1 Matt, for having us. Appreciate it. Speaker0 Let's just maybe start with a quick recap of some of progress you've made to start this year. You had a really strong Q1 with volu ...

NeoGenomics (NEO) 2025 Conference June 04, 2025 02:00 PM ET Speaker0 Afternoon. I'm Tycho Peterson from the Life Science Tools Group. It's my pleasure to introduce our next company this afternoon, NeoGenomics. Tony, I'm going to maybe open it up with you. You've had a little bit of time in the CEO role here. Just talk about early learnings, how you're kind of thinking about stepping in, any big changes that need to happen? Speaker1 No. I think it's been a really good introductory period for me. I had the op ...

Core Insights - Adaptive Biotechnologies reported a revenue of $52.44 million for the quarter ended March 2025, marking a year-over-year increase of 25.3% [1] - The earnings per share (EPS) for the same period was -$0.20, an improvement from -$0.33 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $43.15 million by 21.53%, and the EPS also surpassed the consensus estimate of -$0.28 by 28.57% [1] Performance Metrics - The ClonoSEQ test volume was reported at 23,117, slightly below the three-analyst average estimate of 23,468 [4] - Total Minimal Residual Disease (MRD) revenues reached $43.72 million, significantly above the three-analyst average estimate of $34.61 million, reflecting a year-over-year increase of 34% [4] - Total Immune Medicine revenues were $8.72 million, slightly above the estimated $8.50 million, but showed a year-over-year decline of 5.7% [4] Stock Performance - Shares of Adaptive Biotechnologies have decreased by 7.3% over the past month, compared to a decline of 0.7% in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Total revenue for the first quarter was $52.4 million, representing a 25% growth from the same period last year [22] - MRD revenue grew 34% year-over-year to $43.7 million, with clinical and pharma contributions of 65% and 35% respectively [22] - Sequencing gross margin improved by 17 percentage points year-over-year to 62% [8][22] - Operating expenses decreased by 9% to $82 million, driven by lower R&D spending [23] - Cash burn for the quarter was $23 million, a 38% improvement compared to the same period last year [8] Business Line Data and Key Metrics Changes - ClonoSEQ clinical revenue grew 55% year-over-year, with test deliveries reaching over 23,000, a 36% increase [10] - Average selling price (ASP) for ClonoSEQ tests in the US increased by 14% to over $1,220 per test [13] - MRD Pharma revenue grew 11% year-over-year, with $4.5 million recognized in regulatory milestones [14] Market Data and Key Metrics Changes - The number of ordering healthcare providers grew 31% year-over-year, now exceeding 3,400 [12] - Blood-based testing contributed 44% of MRD tests in the US, up from 39% a year ago [11] Company Strategy and Development Direction - The company is focused on increasing the lifetime value of each clonoSEQ Medicare patient and expanding its market presence through EMR integrations [9][12] - Strategic goals include achieving over 45% of clonoSEQ testing done in blood and launching new initiatives in the second half of the year [16] - The company aims to be adjusted EBITDA positive in the second half of the year [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving raised full-year guidance due to strong first-quarter performance and sustained momentum [29] - The company has minimal exposure to tariffs and NIH funding pressures, providing a solid cash position of $233 million [9] Other Important Information - The company is on track to lower its full-year total operating expense guidance to a range of $335 million to $345 million [26] - Full-year cash burn guidance has been lowered to a range of $50 million to $60 million [27] Q&A Session Summary Question: Specific indications seeing growth and contribution trends - Management noted strong sequential growth across all indications, particularly in lymphoma indications like DLBCL and MCL [32] Question: Updates on EMR integration and larger accounts - Management reported significant growth in accounts integrated for over a year, with some larger accounts showing an average quarter-over-quarter growth of 27% [37] Question: Drivers of clonoSEQ volume growth - Management indicated that growth was driven by non-Hodgkin's lymphoma indications and the acceleration of EMR integrations [42] Question: Milestone payments and funnel growth - Management confirmed that more milestones are becoming available, providing clarity and confidence in the 2025 outlook [48] Question: Pricing and contracting discussions - Management emphasized a disciplined approach to pricing, ensuring contracted rates are close to Medicare rates [51] Question: Frequency of testing in clinical trials - Management acknowledged increased interest in more frequent testing, particularly in multiple myeloma trials [58] Question: Operational efficiencies from EMR integrations - Management noted potential operational efficiencies from EMR integrations, with significant reductions in callbacks reported by integrated accounts [68] Question: NeoGenomics partnership progress - Management provided updates on the partnership, focusing on optimizing the broader national launch based on insights gained from phase one accounts [115]

Financial Data and Key Metrics Changes - Total revenue for the first quarter was $52.4 million, representing a 25% growth from the same period last year [19] - MRD revenue grew 34% year-over-year to $43.7 million, with clinical and pharma contributions of 65% and 35% respectively [19] - Sequencing gross margin improved by 17 percentage points year-over-year to 62% [6][21] - Operating expenses decreased by 9% to $82 million, driven by lower R&D spending [21] - Cash burn for the quarter was $23 million, a 38% improvement compared to the same period last year [6] Business Line Data and Key Metrics Changes - ClonoSEQ clinical revenue grew 55% year-over-year, with test volume reaching over 23,000, a 36% increase [8] - Blood-based testing contributed 44% of MRD tests in the US, up from 39% a year ago [9] - MRD Pharma revenue grew 11% year-over-year, with $4.5 million recognized in regulatory milestones [12] - Immune medicine revenue was $8.7 million, down 6% from a year ago, primarily due to a decrease in Genentech amortization [20] Market Data and Key Metrics Changes - The number of ordering healthcare providers grew 31% year-over-year, now exceeding 3,400 [10] - EMR integrations accelerated, with 27 live integrations including five of the top 10 accounts [10] - The contribution of DLBCL and MCL in MRD tests increased to 12% from 10% a year ago [9] Company Strategy and Development Direction - The company is focused on increasing the lifetime value of each clonoSEQ Medicare patient and expanding its market presence in blood-based testing [6][14] - Strategic goals include achieving over 45% of clonoSEQ testing done in blood, launching Onco EMR with Flatiron, and beginning phase one testing with NeoGenomics [14] - The company aims to be adjusted EBITDA positive in the second half of the year [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving raised full-year guidance due to strong first-quarter performance and sustained momentum [24] - The company anticipates approximately 30% growth in clonoSEQ test volumes for 2025 compared to 2024 [22] - Management noted minimal exposure to tariffs and NIH funding pressures, highlighting a solid cash position of $233 million [7] Other Important Information - The company is raising its full-year MRD revenue guidance to a range of $180 million to $190 million [22] - Operating expense guidance has been lowered to a range of $335 million to $345 million [23] - Cash burn guidance has also been reduced to a range of $50 million to $60 million [23] Q&A Session Summary Question: Specific indications seeing growth and contribution trends - Management noted strong sequential growth across all indications, particularly in lymphoma indications like DLBCL and MCL [26][27] Question: Updates on EMR integration and growth quantification - Management reported significant growth in accounts that have been live for at least a year, with six of seven accounts exceeding 75% year-over-year growth [30][31] Question: Drivers of clonoSEQ volume growth and weather impact - Management confirmed no notable weather impacts and attributed growth to DLBCL and MCL, along with EMR integrations [36][37] Question: Milestone payments and funnel growth - Management indicated that more milestones are becoming available, providing clarity and confidence in the 2025 outlook [41][43] Question: Pricing and contracting discussions - Management emphasized discipline in pricing, ensuring contracted rates are close to Medicare rates [45][46] Question: Multiple myeloma trials and testing intervals - Management acknowledged increased interest in more frequent testing, particularly in multiple myeloma and other indications [50][52] Question: Technology improvements and addressing market adjacencies - Management is actively looking for ways to enhance technology and improve sensitivity in assays [54][56] Question: EMR integration and operational efficiencies - Management noted potential operational efficiencies from EMR integrations, with significant reductions in callbacks reported [60][61] Question: NeoGenomics partnership progress - Management provided updates on the selection of phase one accounts and preparations for the pilot launch in the second half of the year [106][108]

Core Insights - Adaptive Biotechnologies reported a strong start to 2025 with a 34% growth in MRD revenue, driven by increased clonoSEQ test volume and effective execution [2][4] - The company raised its full-year MRD revenue guidance to a range of $180 million to $190 million, while reducing operating expenses and cash burn targets [2][7][8] Recent Highlights - Revenue for Q1 2025 was $52.4 million, a 25% increase from Q1 2024 [4] - MRD revenue was $43.7 million, reflecting a 34% increase year-over-year, while Immune Medicine revenue decreased by 6% to $8.7 million [4] - clonoSEQ test volume grew by 36% to 23,117 tests delivered compared to Q1 2024 [9] Financial Performance - Operating expenses for Q1 2025 were $82.0 million, down 9% from $90.6 million in Q1 2024 [5] - Net loss for Q1 2025 was $29.8 million, an improvement from a net loss of $47.5 million in the same period of 2024 [6] - Adjusted EBITDA for Q1 2025 was a loss of $12.7 million, compared to a loss of $28.2 million in Q1 2024 [6][27] Updated Financial Guidance - Full-year MRD revenue guidance was updated to $180 million to $190 million, implying annual growth of 24% to 31% [9] - Total company operating expenses are expected to be between $335 million and $345 million, down from the previous range of $340 million to $350 million [7] - Full-year cash burn is now projected to be between $50 million and $60 million, reduced from the earlier range of $60 million to $70 million [8]