8-K
filed May 7, 2024, 7:59 PM ET
ticker ADPT
CIK 0001478320
earnings
confidence high
sentiment neutral
materiality 0.75
Adaptive Biotechnologies Q1 2024: MRD revenue up 52% to $32.6M; net loss narrows to $47.5M
Adaptive Biotechnologies Corp
2024-Q1 EPS reported
-$0.33
revenue$41,873,000
- Total revenue $41.9M (+11% YoY); MRD $32.6M (+52%), Immune Medicine $9.2M (-43%).
- clonoSEQ test volume rose 41% to 17,040; net loss improved to $47.5M from $57.7M.
- Cash $308.9M; FY2024 MRD revenue guidance raised to $135-140M, opex lowered to $350-360M.
- FDA ODAC unanimously supported MRD as primary endpoint for accelerated approval in multiple myeloma.
- Strategic move: MRD and Immune Medicine to report separately; antibody discovery launched for MS and type 1 diabetes.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Adaptive Biotechnologies Corp reported quarter ended March 31, 2024 results: revenue $41.9 million, net income $47.5 million loss.
- Period
- quarter ended March 31, 2024
- Revenue
- $41.9 million
- Net income
- $47.5 million loss
- Result
- reported results
Exact text from the filing
First Quarter 2024 Financial Results Revenue was $41.9 million for the quarter ended March 31, 2024, representing an 11% increase from the first quarter in the prior year. MRD revenue was $32.6 million for the quarter, representing a 52% increase from the first quarter in the prior year. Immune Medicine revenue was $9.2 million for the quarter, representing a 43% decrease from the first quarter in the prior year. Operating expenses were $90.6 million for the first quarter of 2024, compared to $94.8 million in the first quarter of the prior year, representing a decrease of 4%. MRD operating expenses were $59.9 million for the quarter, representing a 7% increase from the first quarter in the prior year. Immune Medicine operating expenses were $23.8 million for the quarter, representing a 25% decrease from the first quarter in the prior year. Interest and other income, net was $4.2 million for the first quarter of 2024, compared to $3.0 million in the first quarter of the prior year. Inte
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Adaptive Biotechnologies Corp updated its full year 2024 guidance (lowered).
- Period
- full year 2024
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
Adaptive Biotechnologies expects full year revenue for the MRD business to be between $135 million and $140 million, updated from the previous range between $130 million and $140 million.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Adaptive Biotechnologies Corp updated its full year 2024 guidance (lowered).
- Period
- full year 2024
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
We expect full year total company operating expenses, including cost of revenue, to be between $350 million and $360 million, updated from the previous range between $360 million and $370 million.
View on SEC.gov
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