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This Day That Year: Adaptive Biotechnologies (ADPT)

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Shares of Adaptive Biotechnologies Corp. (ADPT) have gained over 200 percent from their 52-week low of $15.19, recorded in March of this year, and trade around $46.

The Company made its debut on the Nasdaq Global Select Market on June 27, 2019, by setting a public offering at $20 per share.

Adaptive Biotechnologies is a commercial-stage biotechnology company developing diagnostic products and therapeutic products based on its immune medicine platform.

What is immune medicine platform?

Adaptive Biotechnologies' immune medicine platform combines a suite of proprietary technologies, bioinformatics, software, and machine learning to read the diverse genetic code of a patient's adaptive immune system and understand precisely how it detects and treats disease in that patient.

The adaptive immune system, which is a subsystem of the immune system, is comprised of specialized cells, called T cells and B cells. The insights gained from the adaptive immune system enable the design of clinical products tailored to the specific genetics of each patient's immune system.

Portfolio & Pipeline:

The Company's first diagnostic product that was authorized by the FDA is clonoSEQ, a test for the detection and monitoring of minimal residual disease ("MRD"), in patients with multiple myeloma and B cell acute lymphoblastic leukemia. It is also being validated for patients with other blood cancers.

Another test is being developed under the category of diagnostic product and it goes by the name immunoSEQ Dx that may enable early detection of many diseases, say Lyme disease and Celiac disease, from a single blood test. The immunoSEQ Dx, which is a commercial research product, is being developed under a collaboration with Microsoft Corp. (MSFT).

Also in the pipeline are a couple of TCR-based cellular therapies that are being developed under a collaboration agreement with Genentech in the field of oncology.

Adaptive Biotechnologies' products and services are offered to life sciences research, clinical diagnostics, and drug discovery customers.

In March of this year, the Company expanded its partnership with Microsoft to decode COVID-19 immune response and provide open data access. The approach of decoding the immune system's response to the novel coronavirus may advance solutions to diagnose, treat and prevent the disease, augmenting existing research efforts that primarily focus on the biology of the virus, according to Adaptive Biotechnologies.

Amgen and Adaptive Biotechnologies announced a strategic partnership in April, under which the two companies will combine expertise to discover and develop fully-human neutralizing antibodies targeting SARS-CoV-2 to potentially prevent or treat COVID-19.

The Company has been significantly growing its revenue over the years.





Metrics201720182019
Revenue$22.76Mln$32.98Mln$43.52Mln
Net Loss$42.69Mln$46.35Mln$69.57Mln
Loss per share$3.50$3.67$1.01
Operating expenses$82.92Mln$105Mln$163.5Mln
(*Net loss attributable to common shareholders)

In the first quarter ended March 31, 2020, revenue rose to $20.9 million from $12.7 million in the year-earlier quarter. The net loss attributable to shareholders was $31.4 million or $0.25 per share in the first quarter of 2020 compared to $18.6 million or $1.45 per share in the first quarter of 2019.

Operating expenses were $55.5 million for the first quarter of 2020, compared to $32.7 million in the first quarter of the prior year, representing an increase of 70%.

The Company ended March 31, 2020, with cash, cash equivalents, and marketable securities totaling $655.8 million.

In the last 1 year, ADPT has traded in a range of $15.19 to $55.12. The stock closed Friday's trading at $46.29, down 1.91%.

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