Adaptive Biotechnologies Corp (NASDAQ: ADPT)

Adaptive Biotechnologies Corp (ADPT) is a biotechnology company that operates in the development of immune medicine products and services. The company's headquarters is located in San Diego, California, and it has a global reach with operations in the United States, Europe, and Asia. Adaptive Biotech specializes in the development of immune medicine products and services that leverage its proprietary immunosequencing technology to read the genetic code of a patient's immune system and understand how it detects and treats disease.

Adaptive Biotech's main business activities revolve around its immune medicine platform. The company's platform is designed to decode the adaptive immune system, which is responsible for recognizing and responding to pathogens and other foreign substances. The company's immune medicine platform has positioned it as a significant player in the biotechnology industry, competing with other companies such as Celgene and Novartis.

The company generates revenue through its clinical assessment of minimal residual disease (MRD) in lymphoid malignancies and its immune medicine-driven drug discovery and development efforts. Adaptive Biotech's primary products and services include its clonoSEQ clinical diagnostic test, which is used to detect and monitor MRD in patients with hematologic malignancies. The test has been granted marketing authorization by the FDA and is used by 43 biopharmaceutical companies in 143 active clinical trials. Adaptive Biotech's MRD business has grown significantly, with the company reporting a 53% increase in clonoSEQ test volume and a 53% increase in clinical test revenue in 2023 compared to 2022.

Adaptive Biotech's immune medicine business is focused on the discovery and development of novel therapeutic targets and candidates using its immunosequencing platform. The company's immune medicine platform is designed to identify and characterize disease-specific T cells and B cells, and to develop therapeutic candidates that can be used to treat a range of diseases, including cancer and autoimmune disorders. Adaptive Biotech has made significant progress in its immune medicine business, with the company reporting the completion of an assessment of efficacy and safety data for a TCR candidate under its collaboration with Genentech.

Adaptive Biotech's customers include biopharmaceutical companies, such as Genentech, and healthcare providers. The company's clonoSEQ test is used by 43 biopharmaceutical companies in 143 active clinical trials, and the company has also secured payor coverage for its test with Medicare, national private payors, and large regional plans.