{"schema_version":"secwatch.filing_event.v1","accession":"0001564590-22-031433","form_type":"8-K","ticker":"ADPT","cik":"0001478320","company_name":"Adaptive Biotechnologies Corp","filed_at":"2022-09-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:55.876636+00:00","generated_at":"2026-06-23T10:58:24.854626+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Adaptive Biotechnologies secures up to $250M non-dilutive royalty financing from OrbiMed","bullets":["Initial $125M tranche at closing; Adaptive may draw up to $75M more (by Sept 2025) and $50M for M&A (by Sept 2025).","OrbiMed receives 5% of GAAP revenue (8% if second tranche drawn; 10% if all three drawn).","Return cap: 165% of invested capital, increasing to 175% if full repayment not made by Sept 2032.","Adaptive can repurchase revenue interests via call option; OrbiMed has put option on change of control, etc.","Cash and marketable securities were >$450M at Q2 2022; financing extends runway for growth initiatives."],"urls":{"canonical":"https://secwatch.observer/filing/0001564590-22-031433","json":"https://secwatch.observer/filing/0001564590-22-031433.json","markdown":"https://secwatch.observer/filing/0001564590-22-031433.md","text":"https://secwatch.observer/filing/0001564590-22-031433.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1478320/000156459022031433/0001564590-22-031433-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1478320/000156459022031433/adpt-8k_20220912.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-23T10:58:24.854626+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}