Adaptive Biotechnologies

Adaptive Biotechnologies

ADPT
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ADPT · Stock Price

USD 14.69+5.66 (+62.68%)
Market Cap: $2.2B

Historical price data

Overview

Adaptive Biotechnologies is a commercial-stage company on a mission to harness the adaptive immune system as a natural diagnostic and therapeutic tool. Its core achievement is the development of the Immune Medicine Platform, which sequences and maps immune receptors at scale, enabling both its growing clonoSEQ MRD diagnostics business and a deep drug discovery pipeline. The company's strategy is to leverage its unique, data-generating platform to create a sustainable competitive moat across both diagnostics and therapeutics, aiming to transform the detection, monitoring, and treatment of disease.

OncologyAutoimmune DiseasesInfectious DiseasesNeurodegenerative Disorders

Technology Platform

Adaptive's Immune Medicine Platform is an integrated system that sequences, maps, pairs, and characterizes T-cell and B-cell receptors at scale, translating immune system genetics into diagnostic signatures and therapeutic candidates.

Pipeline

4
4 drugs in pipeline
DrugIndicationStageWatch
Venetoclax monotherapy + Venetoclax with anti CD20 monoclona...Chronic Lymphocytic Leukemia (CLL)Phase 2
MosunetuzumabDiffuse Large B-Cell Lymphoma (DLBCL)Phase 2
Bendamustine + RituximabLymphomaPhase 2
Immunomodulatory Agent + Proteasome InhibitorMultiple MyelomaPre-clinical

Funding History

4
Total raised:$620M
IPO$300M
Series C$195M
Series B$105M
Series A$20M

Opportunities

The expansion of clonoSEQ into solid tumors represents a 10x+ market opportunity, while the translation of its massive TCR/antibody library into clinical-stage partnerships and proprietary programs could unlock significant value in targeted immunotherapy.

Risk Factors

The company faces significant execution risk in advancing its early-stage therapeutic pipeline, alongside competitive and reimbursement pressures in its core MRD diagnostics business.
Its capital-intensive, platform-dependent model requires careful balance to achieve profitability.

Competitive Landscape

In MRD diagnostics, Adaptive competes with NGS players like Guardant Health and PCR-based methods. In therapeutics, it faces TCR specialists like Immunocore and antibody discovery platforms like AbCellera. Its integrated data-generating platform and first-mover FDA clearances are key differentiators.