$25.190
-1.191 (-4.73%)At close
ADPT News
ADPT Events
Adaptive Biotechnologies Reports Q2 Revenue of $71.6M, Beating Consensus
Reports Q2 revenue $71.6M, consensus $65.45M. Cash, cash equivalents and marketable securities was $371.7M as of June 30, inclusive of $15.1M of cash and cash equivalents held by Digital Biotechnologies. "We delivered an exceptional second quarter, driven by expanding growth and profitability in MRD, including both our clinical and biopharma businesses," said Chad Robins, CEO of Adaptive Biotechnologies. "The combination of our operating performance, fortified balance sheet and plan to separate the Immune Medicine business enhances our ability to create long-term value for our shareholders."
No Revenue Guidance Provided for Immune Medicine Business
No revenue guidance was provided for the Immune Medicine business. The company expects FY26 total company operating expenses, including cost of revenue, to be between $350M-$355M, updated from the previous range between $350M-$360M.
Adaptive Biotechnologies Prices $300 Million Convertible Notes Offering
Adaptive Biotechnologies "announced the pricing of its offering of $300 million aggregate principal amount of 0% convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering size was increased from the previously announced offering size of $250 million aggregate principal amount of notes. The initial conversion rate is 41.48 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $24.11 per share of common stock. The initial conversion price represents a premium of approximately 40.0% over the last reported sale price of $17.22 per share of Adaptive Biotechnologies's common stock on June 16, 2026."
Adaptive Biotechnologies Plans to Offer $250 Million Convertible Senior Notes
Last night, the company stated: "Adaptive Biotechnologies announced its intention to offer, subject to market and other conditions, $250 million aggregate principal amount of convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Adaptive Biotechnologies also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $37.5 million aggregate principal amount of notes."
Adaptive Biotechnologies Plans to Separate Businesses
Adaptive Biotechnologies announced its intention to pursue a separation of its minimal residual disease and immune medicine businesses. The company is evaluating strategic and structural alternatives for Immune Medicine and expects to identify its preferred path to separation by year-end 2026. "When we completed our strategic review in 2024, we decided to continue developing both MRD and Immune Medicine within Adaptive while increasing their operational independence," said Chad Robins, CEO and co-founder of Adaptive Biotechnologies. "The progress achieved by both businesses has reinforced that decision. As we look ahead, Adaptive will focus on expanding its leadership in MRD diagnostics, while pursuing the optimal path for Immune Medicine outside of Adaptive. We believe this separation is the best way to unlock the full potential of both businesses, increasing their impact on patients and creating long-term value for shareholders."
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.