ADAPTIVE BIOTECHNOLOGIES CORP (ADPT)
Health Care · NASDAQ
Adaptive Biotechnologies leverages proprietary immune medicine and sequencing technologies to transform disease diagnosis and drug development, with commercial focus on minimal residual disease testing and TCR-antigen discovery.
What ADAPTIVE BIOTECHNOLOGIES CORP does
Adaptive Biotechnologies operates two main businesses: the MRD business, which delivers clonoSEQ, an FDA-authorized next-generation sequencing assay for detecting and monitoring minimal residual disease in lymphoid malignancies including multiple myeloma, B cell acute lymphoblastic leukemia, and chronic lymphocytic leukemia; and the Immune Medicine business, which leverages proprietary T cell receptor (TCR) and B cell receptor (BCR) sequencing, mapping, and antigen-binding data to enable therapeutic discovery in immunology, autoimmunity, and cancer. The company operates a dynamic clinical immunomics database with over 100,000 disease signatures and more than 5 million TCR-antigen matches, offering immune receptor sequencing, data licensing, TCR-antigen prediction models, and target discovery capabilities to biopharmaceutical partners.
Themes: ["Minimal residual disease (MRD) testing","Immune medicine / immunology","TCR-antigen mapping and discovery","Liquid biopsy / precision oncology","Autoimmune disease diagnostics","Cell and gene therapy enabling","Clinical next-generation sequencing"]
Fundamentals
- Price$21.80 as of 2026-07-09 close
- Market cap$3.5B as of 2026-07-10
- 1-year return+82.7% as of 2026-07-09 close
- Net margin-16.8% as of 2026-07-10
- Gross margin+75.3% as of 2026-07-10
- ROE-24.3% as of 2026-07-10
- Debt / equity0.60 as of 2026-07-10
- Revenue growth (YoY)+55.9% as of 2026-07-10
- Revenue CAGR (3y)+14.3% SEC XBRL
- Beta2.10 as of 2026-07-10
Key risks (from latest filing)
["Dependence on FDA and payor coverage decisions for clonoSEQ reimbursement and market acceptance; coverage changes or lack thereof could materially impact MRD revenue.","Reliance on biopharmaceutical collaborators for drug development validation and milestone/royalty payments; clinical trial failures or program terminations could reduce future revenue streams.","Novelty of immune medicine platform and TCR-antigen applications carries execution risk; company may fail to commercialize or achieve market adoption for products beyond current clonoSEQ portfolio."]
Competitors & peers
- Guardant Health (GH)
- GRAIL (Illumina subsidiary, ILMN)
- Foundation Medicine / FoundationOne (CancerSeek, Roche subsidiary, RHHBY)
- Bio-Rad Laboratories (BIO)
- Invitae (NVTA)
- Exact Sciences (EXAS)
- Juno Therapeutics (TCR-based therapies, JUNO subsidiary of Celgene/BMS)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.