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Adaptive Biotechnologies Corp (NASDAQ:ADPT) announced Monday that its Strategic Collaboration and License Agreement with Genentech, Inc., originally signed in December 2018, was terminated effective February 9, 2026. The agreement focused on joint research and development of certain cancer cell therapy products. The company, currently valued at $1.99 billion, has seen remarkable growth with its stock surging 117% year-to-date, according to InvestingPro data.
According to a statement based on a recent SEC filing, both companies will wind down their activities under the agreement. Upon termination, Adaptive Biotechnologies will be released from exclusivity obligations related to cell therapies in oncology.
As a result of the termination, Adaptive Biotechnologies expects to recognize $33.7 million in non-cash revenue during the second half of 2025 from the remaining amortization of cash consideration previously received under the agreement.
The company stated that its ongoing Immune Medicine programs and financial goals remain focused on developing digital TCR-antigen prediction models, advancing a pre-clinical data package for its lead T-cell depletion program in autoimmunity, and achieving its fiscal year 2025 Immune Medicine cash burn target of $25–$30 million.
This information is based on a press release statement and details disclosed in the company’s recent SEC filing.
In other recent news, Adeptus Biotechnologies has reported its second-quarter 2025 earnings, exceeding expectations with a revenue of $58.9 million, marking a 36% year-over-year increase. The company also reported an earnings per share (EPS) of -$0.17, outperforming the forecasted -$0.24. Piper Sandler raised its price target for Adeptus Biotechnologies to $15.00, maintaining an Overweight rating, citing significant growth in the company’s Minimal Residual Disease (MRD) business and the potential for sustained revenue growth. Morgan Stanley (NYSE:MS) also increased its price target to $11.00, following what it described as "another solid beat/raise" in the company’s performance, with continued momentum in clonoSEQ volume and average selling price. Meanwhile, BTIG raised its price target to $14.00, maintaining a Buy rating, after the company beat earnings expectations and raised its guidance for the year. Adeptus Biotechnologies achieved adjusted EBITDA positivity in its core MRD business during Q2 2025, ahead of its previous schedule. These developments highlight positive analyst sentiment and improved financial performance for Adeptus Biotechnologies.
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