Adaptive Biotechnologies Corp
ADPT evidence brief
What we can confirm
- BioSniper Score:
- 4.6 / 10
- Market Cap:
- $3.88B
- Lead Asset:
- clonoSEQ (Approved)
What it means
What to watch
Prepared research question
What matters most for ADPT—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ADPT
Adaptive Biotechnologies Corp (ADPT) is a commercial-stage biotechnology company that translates the genetics of the adaptive immune system into clinical products, with an approved MRD diagnostic (clonoSEQ) and a plan to separate its MRD and Immune Medicine businesses.
Key risk: Corporate unprofitability
BioSniper Score
Based on 4 of 6 signals
Market Cap
$3.88B
Cash Runway
—
Lead Asset
clonoSEQ (Approved)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate for Adaptive Biotechnologies Corp.
Adaptive Biotechnologies Corp (ADPT) is a commercial-stage biotechnology company that translates the genetics of the adaptive immune system into clinical products, with an approved MRD diagnostic (clonoSEQ) and a plan to separate its MRD and Immune Medicine businesses.
- Cash & equivalents of $169.9M as of 2026-06-30 [sec]
- Total revenue of $71.6M and net income of -$39.8M as of 2026-06-30 [sec]
- clonoSEQ is an approved NGS-based MRD assay for multiple myeloma, ALL, CLL, and as a CLIA-validated LDT for DLBCL and MCL [pipeline]
- Announced plan to separate MRD and Immune Medicine businesses, targeting preferred path by year-end 2026 [news · published 2026-06-15]
- Partners with Epic, Flatiron Health, and over 40 biopharmaceutical companies [pipeline]
What works
- clonoSEQ is a category-leading MRD diagnostics business that has scaled into profitability [news · published 2026-06-15]
- Strong cash position of $169.9M as of 2026-06-30 provides runway for operations and separation [sec]
- Broad partnership network including Epic, Flatiron Health, and over 40 biopharma partners supports commercial reach [pipeline]
What to weigh
- Net loss of -$39.8M as of 2026-06-30 indicates ongoing unprofitability at the corporate level [sec]
- Immune Medicine business has not yet demonstrated profitability and requires capital discipline [news · published 2026-01-13]
- Competitive landscape includes trials by Roche and Sandoz for MS treatments, which may affect market dynamics [competitor_trial]
From the filings
Quoted directly from source documents.
clonoSEQ is an approved NGS-based MRD assay for multiple lymphoid malignancies
“Detection and monitoring of minimal residual disease (MRD) in lymphoid malignancies including multiple myeloma (MM), B cell acute lymphoblastic leukemia (ALL), chronic lymphocytic leukemia (CLL), and as a CLIA-validated LDT for DLBCL and MCL”
Catalyst timeline
- 2026-07-29 · Earnings: Adaptive Biotechnologies to Report Second Quarter 2026 Financial Results — Company will report financial results for Q2 2026 after market close, providing updated revenue and profitability data.
Risks & what to watch (3)›
Key risks
- Corporate unprofitability — Net loss of -$39.8M as of 2026-06-30 indicates the company is not yet profitable overall [sec]
- Business separation execution risk — Separating MRD and Immune Medicine businesses by year-end 2026 involves operational and financial complexity [news · published 2026-06-15]
- Competitive pressure in MRD — Roche and Sandoz are conducting MS trials that may compete for clinical adoption and partnerships [competitor_trial]
What to watch
- Second quarter 2026 financial results to be reported on July 29, 2026 [catalyst]
- Progress on the separation of MRD and Immune Medicine businesses, with target preferred path by year-end 2026 [news · published 2026-06-15]
- clonoSEQ revenue growth trajectory and path to companywide profitability [news · published 2026-01-13]
- Immune Medicine unit's capital discipline and potential for future value creation [news · published 2026-01-13]
Sources: Catalysts · Competitor trials · News · Pipeline · Generated October 2, 2026 · How we verify sources →
Run Adaptive Biotechnologies Corp through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available Adaptive Biotechnologies Corp facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 3.43 · 0% dilution
Lead: Approved
1 candidate
No upcoming catalysts tracked
0 buys · 39 sells (180d)
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
296
Total value held
$2.01B
| Holder | Shares | Value |
|---|---|---|
| viking global investors lp | 29,993,708 | $416.3M |
| blackrock, inc. | 13,303,025 | $184.6M |
| vanguard capital management llc | 6,094,144 | $84.6M |
| westfield capital management co lp | 5,436,718 | $75.5M |
| vanguard portfolio management llc | 4,491,474 | $62.3M |
| invesco ltd. | 4,450,066 | $61.8M |
| wellington management group llp | 3,857,422 | $53.5M |
| geode capital management, llc | 3,636,054 | $50.5M |
| goldman sachs group inc | 3,242,077 | $45.0M |
| state street corp | 3,227,245 | $44.8M |
Showing top 10 of 296 institutional holders of Adaptive Biotechnologies Corp. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 7.1%
- Days to cover
- 4.2
- Shares short
- 8,551,420
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ADPT short interestGovernance
Frequently asked questions
What is the AI investment thesis for Adaptive Biotechnologies Corp?
Adaptive Biotechnologies Corp (ADPT) is a commercial-stage biotechnology company that translates the genetics of the adaptive immune system into clinical products, with an approved MRD diagnostic (clonoSEQ) and a plan to separate its MRD and Immune Medicine businesses.
What is Adaptive Biotechnologies Corp's lead drug candidate?
Adaptive Biotechnologies Corp's most advanced tracked candidate is clonoSEQ (Approved) for Detection and monitoring of minimal residual disease (MRD) in lymphoid malignancies including multiple myeloma (MM), B cell acute lymphoblastic leukemia (ALL), chronic lymphocytic leukemia (CLL), and as a CLIA-validated LDT for DLBCL and MCL (blood-based MRD using ctDNA).
Who is the CEO of Adaptive Biotechnologies Corp?
Mr. Chad M. Robins M.B.A. is the chief executive officer of Adaptive Biotechnologies Corp (ADPT).
Where is Adaptive Biotechnologies Corp headquartered?
Adaptive Biotechnologies Corp (ADPT) is headquartered in Seattle, WA, United States.
What therapeutic areas does Adaptive Biotechnologies Corp focus on?
Adaptive Biotechnologies Corp develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.