Adaptive Biotechnologies Corporation is a commercial-stage company that develops an immune medicine platform for diagnosing and treating various diseases. Its immunosequencing platform combines proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data for decoding the adaptive immune system. The company offers clonoSEQ, a diagnostic test that detects and monitors remaining cancer cells during and after treatment, known as Minimal Residual Disease (MRD). It provides products and services for life sciences research, clinical diagnostics, and drug discovery. Formerly known as Adaptive TCR Corporation, it changed its name to Adaptive Biotechnologies Corporation in December 2011, was incorporated in 2009, and is headquartered in Seattle, Washington.
Adaptive Biotechnologies Rises 6.02% After NCCN Guideline Update Cites clonoSEQ
Adaptive Biotechnologies is back in focus after the National Comprehensive Cancer Network updated its multiple myeloma guidelines to more fully embed minimal residual disease testing and explicitly reference the company's clonoSEQ assay. Investors reacted quickly to the guideline update, with Adaptive Biotechnologies' share price up 6.02% over the past day and posting a 12.65% 30-day share price return. The 1-year total shareholder return of 125.21% and 3-year total shareholder return above 4x suggest strong momentum that has only recently started to recover from a 5-year total shareholder return decline of 13%. The most followed narrative pegs Adaptive Biotechnologies' fair value at $26.36 against a last close of $29.57, implying the stock is 12% overvalued. The story could break if reimbursement shifts under the proposed 2027 CMS fee schedule, or if key partnerships underperform and dilute the company's MRD thesis.
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Adaptive Biotechnologies Q2 net loss widens to $39.94 million despite 22% revenue growth
Adaptive Biotechnologies reported a wider second-quarter net loss even as revenue grew 22%. Net loss expanded to $39.94 million, or $0.25 per share, from $25.59 million, or $0.17 per share, a year earlier. Revenue rose to $71.6 million from $58.88 million, driven by a 33% increase in its Minimal Residual Disease segment to $66.16 million, while Immune Medicine revenue fell 40% to $5.38 million. The company raised its full-year 2026 MRD revenue guidance to between $268 million and $278 million, up from the prior range of $260 million to $270 million. Shares fell over 5% in overnight trading following the announcement.
Adaptive Biotechnologies CSO Sells $8.5 Million in Stock After 85% Run
Adaptive Biotechnologies Chief Scientific Officer Harlan S. Robins sold 386,240 shares at $22.01 per share on July 2, 2026, for a total of $8.5 million. The sale was executed under a Rule 10b5-1 trading plan adopted on March 13, 2026, and Robins still directly holds 1,019,658 shares worth approximately $21.61 million. The stock had returned 85% over the prior year as of the transaction date, and the company recently reported first-quarter revenue up 35% to $70.9 million, driven by its clonoSEQ MRD test, while narrowing its net loss to $20 million.
ADPT · Capital · Neutral CSO sold $8.5M in stock under a 10b5-1 plan, but the sale is pre-planned and not necessarily a negative signal; stock had 85% run and company reported strong revenue growth.
Imviva Biotech Receives FDA IDE Authorization for clonoSEQ Assay in TENACITY-01 Trial
Imviva Biotech has received FDA Investigational Device Exemption authorization for Adaptive Biotechnologies' clonoSEQ assay in the TENACITY-01 clinical trial. The assay will identify patients with T-cell malignancies who have minimal residual disease levels of 0.1% or higher for enrollment and will detect and quantify MRD in post-treatment bone marrow samples to support exploratory analyses. The trial evaluates CTD402, Imviva's investigational allogeneic anti-CD7 CAR-T cell therapy, in relapsed/refractory T-cell acute lymphoblastic leukemia/lymphoblastic lymphoma and MRD-positive patients in first or second complete remission. The global, single-arm, open-label study plans to enroll up to 120 patients divided between relapsed/refractory and MRD-positive cohorts, with all participants receiving a standard lymphodepletion regimen and a flat dose of 400×10⁶ CTD402 CAR-T cells. IDE authorization confirms the assay can be used in a highly regulated clinical development program where test results may guide patient management.
Imviva Biotech · Regulation · Positive FDA IDE authorization allows Imviva to use clonoSEQ assay in its TENACITY-01 trial, a key regulatory step for its CAR-T therapy CTD402.
ADPT · Technology · Positive FDA IDE authorization for Adaptive's clonoSEQ assay in Imviva's TENACITY-01 trial validates its use in a regulated clinical program, potentially expanding its application.
BTIG Maintains Buy Rating on Adaptive Biotechnologies with $22 Target
BTIG maintained a Buy rating on Adaptive Biotechnologies with a $22 price target following two company announcements. Adaptive upsized its convertible notes offering to $300 million from the originally planned $250 million and revealed plans to separate its MRD and immune medicine businesses. BTIG views both moves positively, considering the immune medicine unit non-core and believing the spin-off will unlock greater value in the core MRD business. The firm noted that while shares dipped slightly due to technical nuances around the offering, discussions with management reassured them that the announcements reflect a position of strength with strong momentum across all MRD applications.
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Capital
ADPT · Capital · Positive BTIG maintained Buy rating and $22 target, citing positive view on upsized convertible notes and planned spin-off of immune medicine business.
Adaptive Biotechnologies Prices Upsized $300 Million Convertible Senior Notes Offering
Adaptive Biotechnologies Corporation has priced an upsized private offering of $300 million in 0% convertible senior notes due 2031, increasing the deal from the previously announced $250 million. The notes, which carry no regular interest and do not accrete, have an initial conversion price of approximately $24.11 per share, a 40% premium over the last reported sale price of $17.22 on June 16, 2026. Net proceeds are estimated at $290.8 million, with roughly $22.3 million allocated to capped call transactions, $25 million to repurchase 1,451,800 shares of common stock, and the remainder directed toward repaying the OrbiMed Purchase Agreement, general corporate purposes, and opportunistic initiatives in the MRD business. The company also granted initial purchasers a 13-day option to buy up to an additional $45 million in notes, which would bring total net proceeds to approximately $334.5 million if fully exercised. The capped call transactions have an initial cap price of $34.44 per share, representing a 100% premium, and are designed to reduce potential dilution upon conversion.
ADPT · Capital · Neutral Company prices $300M convertible notes offering, uses proceeds for share repurchase and debt repayment; dilutive but also reduces debt and funds growth.
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