secwatch.observer — SEC 8-K summary
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Issuer:     Adaptive Biotechnologies Corp (ADPT)
CIK:        0001478320
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0000950170-23-062077
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Adaptive Biotechnologies Q3 revenue down 21% to $37.9M; launches strategic review with Goldman Sachs
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- Q3 2023 revenue $37.9M, down 21% YoY; net loss $50.3M vs $45.3M; Adjusted EBITDA loss $29.8M vs $25.9M.
- MRD revenue $24.7M (+24% YoY); Immune Medicine revenue $13.3M (-52% YoY); clonoSEQ test volume +56% to 15,072.
- Strategic review of MRD and Immune Medicine businesses underway with Goldman Sachs to maximize shareholder value.
- Full-year 2023 guidance: MRD revenue $100-105M; total operating expenses ~$375M; Immune Medicine revenue guidance removed.
- Discovered novel multiple sclerosis target, validating autoimmune target discovery approach.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1478320/000095017023062077/0000950170-23-062077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1478320/000095017023062077/adpt-20231109.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-062077

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer