Nucor earnings beat by $0.08, revenue fell short of estimates
SEATTLE - Adaptive Biotechnologies Corporation (NASDAQ:ADPT), a biotechnology company focused on understanding the adaptive immune system, announced that its clonoSEQ test for measurable residual disease (MRD) will be highlighted in 30 scientific presentations at upcoming medical meetings. The company, currently valued at $1.41 billion, has seen its stock surge over 157% in the past year, according to InvestingPro data, reflecting growing investor confidence in its innovative medical technologies. The clonoSEQ test, which uses next-generation sequencing (NGS) for MRD assessment, will be included in studies presented both at the American Society of Clinical Oncology (ASCO) Annual Meeting from May 30 to June 3 in Chicago and the European Hematology Association (EHA) Congress from June 12 to June 15 in Milan.
These presentations will cover a range of blood cancers, including multiple myeloma (MM) and chronic lymphocytic leukemia (CLL), with new data supporting the clinical utility of clonoSEQ in these diseases. For instance, results from the MIDAS and ADVANCE studies will demonstrate the use of MRD status to guide therapy post-induction in newly diagnosed MM patients. Additionally, interim results from the VENETOSTOP study will report on the use of MRD status to shorten the duration of venetoclax-based therapy in CLL patients.
Susan Bobulsky, Chief Commercial Officer, MRD, at Adaptive Biotechnologies, remarked on the significance of MRD in clinical care and drug development, emphasizing the central role of clonoSEQ MRD testing in lymphoid cancers management.
The clonoSEQ test is the first and only FDA-cleared in vitro diagnostic (IVD) test for detecting and tracking MRD in patients with multiple myeloma (MM), B-cell acute lymphoblastic leukemia (B-ALL), and chronic lymphocytic leukemia (CLL), and it is available as a laboratory developed test (LDT) for other lymphoid cancers. It is also covered by Medicare for several indications and has received CE marking under the EU In Vitro Diagnostic Regulation (IVDR).
Adaptive Biotechnologies aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat diseases. The company’s platform is designed to reveal and translate the genetics of the adaptive immune system with precision and speed, informing treatment decisions and potentially improving patient outcomes. Financial data from InvestingPro shows the company maintains a healthy financial position with a current ratio of 2.92 and revenue growth of 8.61% over the last twelve months. While analysts have recently revised earnings expectations upward, detailed analysis and additional insights are available through InvestingPro’s comprehensive research reports, which cover over 1,400 US stocks including ADPT.
This article is based on a press release statement from Adaptive Biotechnologies. The company’s stock currently trades with moderate volatility and a beta of 1.76, making it an interesting prospect for investors seeking exposure to the biotechnology sector. Get access to more detailed financial metrics and analysis through InvestingPro, including real-time Fair Value calculations and expert insights.
In other recent news, Adaptive Biotechnologies reported a strong performance for the first quarter of 2025, surpassing earnings expectations with a narrower-than-expected loss per share of $0.20, compared to the forecasted $0.29. The company’s revenue also exceeded projections, reaching $52.4 million against the anticipated $42.81 million, marking a 25% increase from the previous year. This growth was largely driven by a 34% increase in Minimal Residual Disease (MRD) business revenue, with clonoSEQ test volumes rising by 36% to over 23,000 tests delivered. Adaptive Biotechnologies has raised its full-year MRD revenue guidance to between $180 million and $190 million, reflecting strong demand and operational efficiency. Additionally, the company reported a 9% decrease in operating expenses, which contributed to a lowered forecast for annual cash burn, now expected to be between $50 million and $60 million. BTIG analysts responded positively to these developments, raising the price target for Adaptive Biotechnologies to $11.00 from $10.00 and maintaining a Buy rating. They noted the company’s robust trends in the MRD business and expressed confidence in its trajectory toward achieving positive adjusted EBITDA in the second half of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.