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ADPT Adaptive Biotechnologies

Adaptive Biotechnologies is a commercial-stage biotechnology company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Adaptive Biotechnologies believes the adaptive immune system is nature's most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Its proprietary immune medicine platform reveals and translates the massive genetics of the adaptive immune system with scale, precision and speed to develop products in life sciences research, clinical diagnostics, and drug discovery. We have three commercial products, and a robust clinical pipeline to diagnose, monitor and enable the treatment of diseases such as cancer, autoimmune conditions and infectious diseases. Our goal is to develop and commercialize immune-driven clinical products tailored to each individual patient.

Company profile

Ticker
ADPT
Exchange
CEO
Chad Robins
Employees
Incorporated
Location
Fiscal year end
Former names
Adaptive TCR Corp
SEC CIK
Subsidiaries
Spin Technologies, Inc. ...
IRS number
270907024

ADPT stock data

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News

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 21
20 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 186.32M 186.32M 186.32M 186.32M 186.32M 186.32M
Cash burn (monthly) (positive/no burn) 15.1M 16.59M 14.36M 12.4M 15.2M
Cash used (since last report) n/a 55.81M 61.29M 53.06M 45.83M 56.18M
Cash remaining n/a 130.52M 125.03M 133.26M 140.49M 130.15M
Runway (months of cash) n/a 8.6 7.5 9.3 11.3 8.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Oct 21 R Mark Adams Common Stock Sell Dispose S No Yes 33.67 1,801 60.64K 51,854
8 Oct 21 Robins Harlan S Common Stock Sell Dispose S No Yes 32.96 3,895 128.38K 69,360
8 Oct 21 Robins Harlan S Common Stock Option exercise Acquire M No Yes 6.32 3,895 24.62K 73,255
8 Oct 21 Robins Harlan S Stock Option Common Stock Option exercise Dispose M No Yes 6.32 3,895 24.62K 70,110
7 Oct 21 R Mark Adams Common Stock Sell Dispose S No No 32.47 1,324 42.99K 53,655
7 Oct 21 Robins Harlan S Common Stock Sell Dispose S No Yes 33.68 3,695 124.45K 69,360
7 Oct 21 Robins Harlan S Common Stock Sell Dispose S No Yes 32.5 200 6.5K 73,055
7 Oct 21 Robins Harlan S Common Stock Option exercise Acquire M No Yes 6.32 3,895 24.62K 73,255
7 Oct 21 Robins Harlan S Stock Option Common Stock Option exercise Dispose M No Yes 6.32 3,895 24.62K 74,005
6 Oct 21 Robins Harlan S Common Stock Sell Dispose S No Yes 32.27 3,895 125.69K 69,360

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

81.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 222 240 -7.5%
Opened positions 37 45 -17.8%
Closed positions 55 51 +7.8%
Increased positions 95 95
Reduced positions 58 76 -23.7%
13F shares
Current Prev Q Change
Total value 4.91B 4.64B +5.8%
Total shares 115.19M 111.94M +2.9%
Total puts 179.5K 364.8K -50.8%
Total calls 458.2K 531.9K -13.9%
Total put/call ratio 0.4 0.7 -42.9%
Largest owners
Shares Value Change
Viking Global Investors 29.99M $1.23B 0.0%
Matrix Capital Management 11.8M $482.15M -4.1%
TROW T. Rowe Price 10.97M $448.11M +14.0%
Vanguard 10.18M $415.86M +1.6%
BLK Blackrock 5.32M $217.37M +8.5%
ARK Investment Management 4.37M $178.44M +25.7%
ATAC Neuberger Berman 2.2M $89.75M +4.7%
Massachusetts Financial Services 2.15M $87.78M -4.7%
Gilder Gagnon Howe & Co 2.05M $83.76M -14.0%
Capital International Investors 1.96M $80.27M +7.2%
Largest transactions
Shares Bought/sold Change
CMTDF Sumitomo Mitsui Trust 1.82M +1.39M +325.1%
Nikko Asset Management Americas 1.78M +1.38M +346.9%
TROW T. Rowe Price 10.97M +1.34M +14.0%
SB Management 1.24M +1.24M NEW
JPM JPMorgan Chase & Co. 197.34K -1.19M -85.8%
BLVGF Bellevue 962.35K +962.35K NEW
ARK Investment Management 4.37M +893.07K +25.7%
WFC Wells Fargo & Co. 35.34K -781.12K -95.7%
Rockefeller Capital Management 128.11K -551.45K -81.1%
Matrix Capital Management 11.8M -509K -4.1%

Financial report summary

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Risks
  • We have incurred significant losses since inception, we expect to incur losses in the future and we may not be able to generate sufficient revenue to achieve and maintain profitability.
  • We expect to make significant investments in our continued research and development of new products and services, which may not be successful.
  • If we are not successful in leveraging our immune medicine platform to discover, develop and commercialize additional products and services, our ability to expand our business and achieve our strategic objectives would be impaired.
  • We are exposed to risks associated with our agreement with Genentech, and we may not realize the advantages we expect from it.
  • We have limited experience with the development and commercialization of cellular therapeutics, and future TCR-based cellular therapies may never be successfully developed and commercialized as part of our Genentech collaboration.
  • We currently use, and in the future expect to increase our use of, collaborators for several aspects of our operations, and if we cannot maintain current and enter new relationships with collaborators, our business will suffer.
  • Significant additional research and development and, in certain instances, clinical trials or validation will be required before we can potentially seek regulatory clearance, authorization or approval for, or commercialize any of our products or services in development.
  • Errors or defects in our products or services could harm our reputation, decrease market acceptance of our products or services or expose us to product liability claims.
  • We rely on a limited number of suppliers or, in many cases, single suppliers, for laboratory equipment and materials and may not be able to find replacements or immediately transition to alternative suppliers.
  • We have limited experience in marketing and selling products and services, and if we are unable to expand our direct sales and marketing force or partner with collaborators in certain product areas and markets to adequately address our customers’ needs, our business may be adversely affected.
  • If we or our collaborators experience any of a number of possible unforeseen events in connection with clinical trials, our or their ability to conduct further clinical trials of, obtain regulatory clearance, authorization or approval of or commercialize future products and services or improvements to current products and services, could be delayed or prevented.
  • We will need to develop and expand our workforce, commercial infrastructure and laboratory operations to support anticipated growth in demand for our products and services. We may encounter difficulties in managing this and in meeting fluctuations in this demand.
  • The COVID-19 pandemic could adversely impact portions of our business that rely on research and development activities or clinical trials and delay or disrupt our pipeline, which may adversely impact revenue.
  • Our efforts to discover and develop products and services related to COVID-19 may not be successful from either a platform extension or commercialization perspective.
  • Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
  • If we do not compete effectively with scientific and commercial competitors, we may not be able to successfully commercialize our products and services.
  • The loss of any member of our senior management team or our inability to attract and retain highly skilled scientists, clinicians and salespeople could adversely affect our business.
  • If we lose the support of key thought leaders, it may be difficult to establish products and services enabled by our immune medicine platform as industry standards, which may limit our revenue growth and ability to achieve profitability.
  • We depend on our information technology systems and any failure of these systems could harm our business.
  • International expansion of our business exposes us to business, regulatory, political, operational, financial and economic risks associated with doing business outside of the United States.
  • We may never obtain approval in the EU or in any other foreign country for any of our products or services and, even if we do, we or our collaborators may never be able to commercialize them in any other jurisdiction, which would limit our ability to realize their full market potential.
  • If our laboratory facilities become damaged or inoperable or we are required to vacate our existing facilities, our ability to conduct our laboratory processes and analysis and pursue our research and development efforts may be jeopardized.
  • We could be adversely affected by violations of the FCPA and other worldwide anti-bribery laws.
  • Unfavorable U.S. or global economic conditions could adversely affect our business, financial condition or results of operations.
  • We use biological and hazardous materials that require considerable expertise and expense for handling, storage and disposal and may result in claims against us.
  • We or our collaborators may be adversely affected by natural or man-made disasters or other business interruptions, such as cybersecurity attacks, and our business continuity and disaster recovery plans, or those of our collaborators, may not adequately protect us from the effects of a serious disaster.
  • We conduct our business in a heavily regulated industry, and changes in regulations or violations of regulations may, directly or indirectly, reduce our revenue, adversely affect our results of operations and financial condition and harm our business.
  • The insurance coverage and reimbursement status of newly approved products and services, in a new category of diagnostics and therapeutics, is uncertain. Failure to obtain or maintain adequate coverage and reimbursement for current or future products and services could limit our ability, and that of our collaborators, to fully commercialize our products and services and decrease our ability to generate revenue.
  • Our business could be harmed by the loss, suspension or other restriction on a license, certification or accreditation, or by the imposition of a fine or penalties, under CLIA, its implementing regulations or other state, federal and foreign laws and regulations affecting licensure or certification, or by future changes in these laws or regulations.
  • Inadequate funding for the FDA and other government agencies could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.
  • We must maintain compliance with FDA requirements for our products and services and failure to maintain compliance with FDA requirements may prevent or delay the marketing of our products and services.
  • Future changes in FDA enforcement discretion for LDTs could subject our operations to much more significant regulatory requirements.
  • For each product and service we are developing that requires FDA premarket review, the FDA may not grant clearance, authorization or premarket approval and failure to obtain necessary approvals for our future products and services would adversely affect our ability to grow our business.
  • Our employees, principal investigators, consultants and collaborators may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
  • If third-party payors, including private payors and government healthcare programs, do not provide coverage of, or adequate reimbursement for, our clinical diagnostic products, our commercial success will be negatively affected.
  • Future Medicare payment rates are uncertain.
  • Any additional commercialized products and services or any future products and services that obtain regulatory clearance, authorization, approval, accreditation or licensure will remain subject to regulatory scrutiny and our failure to maintain our regulatory clearances, authorizations, approvals, accreditations or licensures could adversely affect our reputation, business and results of operations.
  • If any of our diagnostic products or services cause or contribute to a death or serious injury, or malfunction in certain ways, we will be required to report such death, serious injury or malfunction under applicable medical device reporting regulations, and such events can result in voluntary corrective actions or agency enforcement actions.
  • Our collection, use and disclosure of personal information, including health and employee information, is subject to state, federal and foreign privacy and security regulations, and our failure to comply with those regulations or to adequately secure the information we hold could result in significant liability or reputational harm.
  • No TCR-based cellular therapies have been approved in this new potential category of medicines and may never be approved as a result of efforts by others or us. TCR-based cellular therapy drug discovery has substantial clinical development and regulatory risks due to the novel and unprecedented nature of this new category of immune medicines.
  • We may not be successful in obtaining or maintaining sufficient intellectual property protection for our products, services and technologies and uses thereof, and the scope of the intellectual property protection obtained may not be sufficiently broad.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Issued patents covering our products and services could be found invalid or unenforceable if challenged.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties or that our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
  • We may not be able to protect and enforce our trademarks.
  • We may be subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • If we become involved in patent litigation or other proceedings related to a determination of rights, we could incur substantial costs and expenses, substantial liability for damages or be required to stop our development and commercialization efforts of our products and services.
  • Patent terms may be inadequate to protect our competitive position on our products and services for an adequate amount of time.
  • The market price of our common stock is volatile and is likely to continue to fluctuate substantially.
  • If securities analysts do not publish research or reports about our business, or we are the subject of negative publicity, the price of our stock could decline.
  • If our estimates or judgments relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our operating results could fall below our publicly announced guidance or the expectations of securities analysts and investors, resulting in a decline in the market price of our common stock.
  • Substantial future sales or perceived potential sales of our common stock or other equity securities in the public market could cause the price of our common stock to decline significantly.
  • We are subject to financial reporting and other requirements for which our accounting and other management systems and resources may not be adequately prepared.
  • Provisions in our charter documents and Washington law could make an acquisition of our company more difficult and limit attempts by our shareholders to replace or remove our current management.
  • Our Articles of Incorporation provide that the state courts located in King County, Washington and, to the extent enforceable, the federal district courts of the United States of America will be the exclusive forums for substantially all disputes between us and our shareholders, which could limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
  • Because we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, capital appreciation, if any, will be your sole source of gain.
Content analysis
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H.S. junior Avg
New words: culture, hiring, likelihood, October, retention, training
Removed: compared, largely, representing

Patents

APP
Utility
Methods of Monitoring Conditions by Sequence Analysis
7 Oct 21
There is a need for improved methods for determining the diagnosis and prognosis of patients with conditions, including autoimmune disease and cancer.
GRANT
Utility
Characterization of adaptive immune response to vaccination or infection using immune repertoire sequencing
20 Jul 21
Methods of monitoring and measuring dynamic adaptive immune cell responses are provided.
GRANT
Utility
Methods for diagnosing infectious disease and determining HLA status using immune repertoire sequencing
29 Jun 21
Methods are provided for predicting a subject's infection status using high-throughput T cell receptor sequencing to match the subject's TCR repertoire to a known set of disease-associated T cell receptor sequences.
GRANT
Utility
Method of identifying human compatible T cell receptors specific for an antigenic target
22 Jun 21
Methods are provided for identifying T cell receptors that specifically bind a particular antigenic target and can be used as therapeutics against disease.
GRANT
Utility
High affinity T cell receptors and uses thereof
8 Jun 21
The present disclosure provides TCRs with high or enhanced affinity against various tumor associated antigens (including human Wilms tumor protein 1 (WT 1) epitopes and mesothelin epitopes), T cells expressing such high affinity antigen specific TCRs, nucleic acids encoding the same, and compositions for use in treating diseases or disorders in which cells overexpress one or more of these antigens, such as in cancer.