ADPT Adaptive Biotechnologies Corporation

53.11
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  1. SEATTLE, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT) a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced it will be participating in the upcoming Cowen 41st Annual Healthcare Conference.

    Adaptive Biotechnologies' management is scheduled to participate in a fireside chat on Tuesday, March 2nd at 7:30 a.m. Pacific Time / 10:30 a.m. Eastern Time. Interested parties may access a live and archived webcast of the presentation on the "Investors" section of the company website at: www.adaptivebiotech.com.

    About Adaptive Biotechnologies 
    Adaptive Biotechnologies is a commercial-stage…

    SEATTLE, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT) a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced it will be participating in the upcoming Cowen 41st Annual Healthcare Conference.

    Adaptive Biotechnologies' management is scheduled to participate in a fireside chat on Tuesday, March 2nd at 7:30 a.m. Pacific Time / 10:30 a.m. Eastern Time. Interested parties may access a live and archived webcast of the presentation on the "Investors" section of the company website at: www.adaptivebiotech.com.

    About 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. We believe 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. Our 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.

    ADAPTIVE INVESTORS

    Karina Calzadilla, Vice President, Investor Relations

    201-396-1687

    Carrie Mendivil, Gilmartin Group

    ADAPTIVE MEDIA

    Beth Keshishian

    917-912-7195



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  2. SEATTLE, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation ("Adaptive Biotechnologies") (NASDAQ:ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today reported financial results for the fourth quarter and full year ended December 31, 2020.

    "Adaptive's launch of T-Detect COVID marks a pivotal moment in the diagnostic testing paradigm. We have now proven that it is possible to read how T cells detect disease in the blood and we are on a fast path to develop this product for many other indications," said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. "As we move into 2021…

    SEATTLE, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation ("Adaptive Biotechnologies") (NASDAQ:ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today reported financial results for the fourth quarter and full year ended December 31, 2020.

    "Adaptive's launch of T-Detect COVID marks a pivotal moment in the diagnostic testing paradigm. We have now proven that it is possible to read how T cells detect disease in the blood and we are on a fast path to develop this product for many other indications," said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. "As we move into 2021, we are poised to execute on several key catalysts across all business areas that will accelerate our vision to power the age of immune medicine."

    Recent Highlights

    • Revenues of $30.2 million for the fourth quarter and $98.4 million for the full year of 2020, representing a 25% increase and 16% increase, respectively, over the corresponding periods in 2019.
    • Clinical sequencing volume increased 41% to 4,539 clinical tests delivered in the fourth quarter of 2020, compared to the fourth quarter 2019 and ended the year with 15,216 clinical tests delivered, up 50% versus 2019.
    • Launched T-Detect™ COVID, first clinical T-cell based test for patients to confirm recent or prior COVID-19 infection. In final review by the U.S. Food and Drug Administration (FDA) for Emergency Use Authorization (EUA).
    • Extended collaboration agreement with Labcorp to enable broader access to our growing portfolio of immune-driven clinical diagnostic and research products.
    • Submitted a 510(k) application to the FDA for the use of clonoSEQ in blood for B-cell acute lymphoblastic leukemia (ALL) patients.

    Fourth Quarter 2020 Financial Results

    Revenue was $30.2 million for the quarter ended December 31, 2020, representing a 25% increase from the fourth quarter in the prior year. Sequencing revenue was $12.7 million for the quarter, representing an 8% decrease from the fourth quarter in the prior year. Development revenue was $17.5 million for the quarter, representing a 69% increase from the fourth quarter in the prior year.

    Operating expenses were $74.4 million for the fourth quarter of 2020, compared to $48.4 million in the fourth quarter of the prior year, representing an increase of 54%.

    Net loss was $44.6 million for the fourth quarter of 2020, compared to $20.6 million for the same period in 2019.

    Adjusted EBITDA (non-GAAP) was a loss of $34.6 million for the fourth quarter of 2020, compared to a loss of $18.7 million for the fourth quarter of the prior year.

    Full Year 2020 Financial Results

    Revenue was $98.4 million for the year ended December 31, 2020, representing a 16% increase from the prior year. Sequencing revenue was $41.4 million in 2020, representing a 5% decrease from 2019. Development revenue was $56.9 million in 2020, representing a 37% increase from the prior year.

    Operating expenses for 2020 were $251.2 million, compared to $163.5 million for 2019, representing an increase of 54%.

    Net loss was $146.2 million in 2020, compared to $68.6 million in 2019.

    Adjusted EBITDA (non-GAAP) was a loss of $119.6 million for 2020, compared to a loss of $57.5 million in the prior year.

    Cash, cash equivalents and marketable securities was $806.8 million as of December 31, 2020.

    2021 Financial Guidance

    Management will provide the 2021 outlook during the conference call scheduled to discuss the 2020 financial results.

    Webcast and Conference Call Information

    Adaptive Biotechnologies will host a conference call to discuss its fourth quarter and full year 2020 financial results after market close on Wednesday, February 24, 2021 at 4:30 PM Eastern Time. The conference call can be accessed at http://investors.adaptivebiotech.com. The webcast will be archived and available for replay at least 90 days after the event.

    About Adaptive Biotechnologies

    Adaptive Biotechnologies ("we" or "our") 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. We believe 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. Our 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.

    Forward-Looking Statements

    This press release contains forward-looking statements that are based on management's beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts and other matters regarding our business strategies, use of capital, results of operations and financial position and plans and objectives for future operations.

    In some cases, you can identify forward-looking statements by the words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.

    Use of Non-GAAP Financial Measure

    To supplement our balance sheets and statements of operations, which are prepared in conformity with generally accepted accounting principles in the United States of America ("GAAP"), this press release also includes references to Adjusted EBITDA, which is a non-GAAP financial measure that we define as net loss adjusted for interest and other income, net, income tax (expense) benefit, depreciation and amortization and share-based compensation expenses. We have provided a reconciliation of net loss, the most directly comparable GAAP financial measure, to Adjusted EBITDA at the end of this press release.

    Management uses Adjusted EBITDA to evaluate the financial performance of our business and the effectiveness of our business strategies. We present Adjusted EBITDA because we believe it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry and it facilitates comparisons on a consistent basis across reporting periods. Further, we believe it is helpful in highlighting trends in our operating results because it excludes items that are not indicative of our core operating performance.

    Adjusted EBITDA has limitations as an analytical tool and you should not consider it in isolation, or as a substitute for analysis of our results as reported under GAAP. We may in the future incur expenses similar to the adjustments in the presentation of Adjusted EBITDA. In particular, we expect to incur meaningful share-based compensation expense in the future. Other limitations include that Adjusted EBITDA does not reflect:

    • all expenditures or future requirements for capital expenditures or contractual commitments;
    • changes in our working capital needs;
    • income tax (expense) benefit, which may be a necessary element of our costs and ability to operate;
    • the costs of replacing the assets being depreciated and amortized, which will often have to be replaced in the future;
    • the non-cash component of employee compensation expense; and
    • the impact of earnings or charges resulting from matters we consider not to be reflective, on a recurring basis, of our ongoing operations.

    In addition, Adjusted EBITDA may not be comparable to similarly titled measures used by other companies in our industry or across different industries.

    ADAPTIVE MEDIA

    Beth Keshishian

    917-912-7195

    ADAPTIVE INVESTORS

    Karina Calzadilla, Vice President, Investor Relations

    201-396-1687

    Carrie Mendivil, Gilmartin Group







    Adaptive Biotechnologies

    Statements of Operations

    (in thousands, except share and per share amounts)

    (unaudited)

      Three Months Ended December 31,  Year Ended December 31, 
      2020  2019  2020  2019 
    Revenue                
    Sequencing revenue $12,709  $13,888  $41,439  $43,519 
    Development revenue  17,476   10,321   56,943   41,552 
    Total revenue  30,185   24,209   98,382   85,071 
    Operating expenses                
    Cost of revenue  6,222   5,951   22,530   22,274 
    Research and development  35,831   21,189   116,072   70,705 
    Sales and marketing  18,545   12,640   61,358   38,453 
    General and administrative  13,398   8,189   49,536   30,332 
    Amortization of intangible assets  428   428   1,703   1,698 
    Total operating expenses  74,424   48,397   251,199   163,462 
    Loss from operations  (44,239)  (24,188)  (152,817)  (78,391)
    Interest and other income, net  785   3,577   6,590   9,785 
    Income tax expense  (1,116)         
    Net loss  (44,570)  (20,611)  (146,227)  (68,606)
    Fair value adjustment to Series E-1 convertible preferred stock

     options
               (964)
    Net loss attributable to common shareholders $(44,570) $(20,611) $(146,227) $(69,570)
    Net loss per share attributable to common shareholders, basic

     and diluted
     $(0.33) $(0.17) $(1.11) $(1.01)
    Weighted-average shares used in computing net loss per share

     attributable to common shareholders, basic and diluted
      136,954,148   124,397,150   131,216,468   69,165,315 
                     





    Adaptive Biotechnologies


    Balance Sheets

    (in thousands, except share and per share amounts)

    (unaudited)

      December 31, 
      2020  2019 
    Assets        
    Current assets        
    Cash and cash equivalents $123,436  $96,576 
    Short-term marketable securities (amortized cost of $564,036 and $479,791, respectively)  564,833   480,290 
    Accounts receivable, net  10,047   12,676 
    Inventory  14,063   9,069 
    Prepaid expenses and other current assets  14,535   14,079 
    Total current assets  726,914   612,690 
    Long-term assets        
    Property and equipment, net  39,692   60,355 
    Operating lease right-of-use assets  99,350    
    Long-term marketable securities (amortized cost of $118,429 and $105,263, respectively)  118,525   105,435 
    Restricted cash  2,138   2,138 
    Intangible assets, net  10,225   11,928 
    Goodwill  118,972   118,972 
    Other assets  598   784 
    Total assets $1,116,414  $912,302 
    Liabilities and shareholders' equity        
    Current liabilities        
    Accounts payable $3,237  $4,453 
    Accrued liabilities  13,162   4,371 
    Accrued compensation and benefits  11,950   8,124 
    Current portion of deferred rent     371 
    Current portion of operating lease liabilities  3,529    
    Current portion of deferred revenue  73,319   60,994 
    Total current liabilities  105,197   78,313 
    Long-term liabilities        
    Deferred rent liability, less current portion     6,918 
    Operating lease liabilities, less current portion  104,333    
    Financing obligation     36,607 
    Deferred revenue, less current portion  163,618   219,332 
    Other long-term liabilities     93 
    Total liabilities  373,148   341,263 
    Commitments and contingencies        
    Shareholders' equity        
    Preferred stock: $0.0001 par value, 10,000,000 shares authorized at December 31, 2020

     and 2019; no shares issued and outstanding at December 31, 2020 and 2019
          
    Common stock: $0.0001 par value, 340,000,000 shares authorized at December 31, 2020

     and 2019; 137,646,896 and 125,238,142 shares issued and outstanding at

     December 31, 2020 and 2019, respectively
      14   12 
    Additional paid-in capital  1,253,971   935,834 
    Accumulated other comprehensive gain  893   671 
    Accumulated deficit  (511,612)  (365,478)
    Total shareholders' equity  743,266   571,039 
    Total liabilities and shareholders' equity $1,116,414  $912,302 
             





    Adjusted EBITDA



    The following table sets forth a reconciliation between our Adjusted EBITDA and our net loss, the most directly comparable GAAP financial measure, for each of the periods presented (in thousands, unaudited):

      Three Months Ended December 31,  Year Ended December 31, 
      2020  2019  2020  2019 
    Net loss $(44,570) $(20,611) $(146,227) $(68,606)
    Interest and other income, net  (785)  (3,577)  (6,590)  (9,785)
    Income tax expense  1,116          
    Depreciation and amortization expense  2,352   2,075   8,472   7,791 
    Share-based compensation expense  7,243   3,411   24,761   13,124 
    Adjusted EBITDA $(34,644) $(18,702) $(119,584) $(57,476)
                     


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  3. SEATTLE, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced an expansion of its collaboration with Labcorp (NYSE:LH), a leading global life sciences company, to enable broader access to Adaptive's growing portfolio of immune-driven clinical diagnostic and research products. The expanded collaboration includes a commercial agreement for Adaptive's clonoSEQ® and immunoSEQ® assays and a lab services agreement for Adaptive's recently launched T-Detect COVID™ test, the first clinical T-cell based test for patients to confirm recent or prior…

    SEATTLE, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced an expansion of its collaboration with Labcorp (NYSE:LH), a leading global life sciences company, to enable broader access to Adaptive's growing portfolio of immune-driven clinical diagnostic and research products. The expanded collaboration includes a commercial agreement for Adaptive's clonoSEQ® and immunoSEQ® assays and a lab services agreement for Adaptive's recently launched T-Detect COVID™ test, the first clinical T-cell based test for patients to confirm recent or prior COVID-19 infection.

    The collaboration builds on the parties' initial agreement signed in May 2020 to provide safe blood collection services at nearly 2,000 Labcorp patient service centers (PSCs) for patients using clonoSEQ, the first and only FDA-cleared assay for minimal residual disease (MRD) in select blood cancers. As part of the companies' deeper collaboration, patients can now have convenient blood collection for both the clonoSEQ and T-Detect™ COVID tests at any Labcorp PSC.

    "We are proud to partner with Labcorp to expand patient access to blood draws necessary for novel tests like clonoSEQ and T-Detect," said Chad Robins, co-founder and chief executive officer of Adaptive. "By providing patients with easy and safe ways to access critical health services, especially during this difficult time, we can expand the impact we can have on patients impacted by blood cancers, COVID-19, and eventually many other immune-mediated diseases."

    The two companies will work closely together to expand the commercial reach of clonoSEQ and operational capacity for T-Detect COVID. Labcorp's oncology sales force will promote clonoSEQ at hematology-oncology clinics in the U.S. In addition, Labcorp is preparing to perform T-Detect COVID as a secondary site laboratory once the test has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA).

    In addition, Labcorp will expand its immunosequencing portfolio by offering its biopharmaceutical customers the immunoSEQ and immunoSEQ® T-MAP™ COVID assays using Research Use Only (RUO) test kits.

    "By expanding access to Adaptive's growing portfolio of clinical and research products, Labcorp is helping to guide patient care decisions during a time when access to healthcare is challenging," said Brian Caveney, M.D., chief medical officer and president of Labcorp Diagnostics. "We are thrilled to deepen our commercial collaborations in multiple therapeutic areas across both drug development and clinical diagnostics with innovative, science-driven companies like Adaptive."

    About T-Detect™

    T-Detect™ is a highly sensitive and specific diagnostic test under development for multiple diseases, translating the natural diagnostic capability of T cells into clinical practice. In 2018, Adaptive and Microsoft partnered to build a map of the immune system called the TCR-Antigen Map. This approach uses immunosequencing, proprietary computational modeling, and machine learning to map T-cell receptor sequences to disease-associated antigens for infectious diseases, autoimmune disorders and cancer. From a simple blood draw, T-Detect will leverage the map to provide an immunostatus for an individual, enabling early disease diagnosis, disease monitoring, and critical insights into immunity. T-Detect COVID is the first clinical test launched from this collaboration and the first commercially available T-cell test designed to detect recent or prior SARS-CoV-2 infections. T-Detect COVID is an in vitro diagnostic that is available for prescription use only. This test has not been cleared or approved by the FDA and is available for use as a CLIA-validated laboratory developed test. T-Detect COVID is not indicated for use in patients under age 18.

    About the clonoSEQ(R) Assay

    The clonoSEQ Assay is the first and only FDA-cleared assay for MRD in chronic lymphocytic leukemia (CLL), multiple myeloma (MM) and B-cell acute lymphoblastic leukemia (ALL). Minimal residual disease (MRD) refers to the small number of cancer cells that can stay in the body during and after treatment. clonoSEQ was initially granted De Novo designation and marketing authorization by the FDA for the detection and monitoring of MRD in patients with MM and B-ALL using DNA from bone marrow samples. In August 2020, clonoSEQ received additional clearance from the FDA to detect and monitor MRD in blood or bone marrow from patients with CLL. 

    The clonoSEQ Assay leverages Adaptive's proprietary immune medicine platform to identify and quantify specific DNA sequences found in malignant cells, allowing clinicians to assess and monitor MRD during and after treatment. The assay provides standardized, accurate and sensitive measurement of MRD that allows physicians to predict patient outcomes, assess response to therapy over time, monitor patients during remission and predict potential relapse. Clinical practice guidelines in hematological malignancies recognize that MRD status is a reliable indicator of clinical outcomes and response to therapy, and clinical outcomes have been shown to be strongly associated with MRD levels measured by the clonoSEQ Assay in patients diagnosed with CLL, MM and ALL. 

    The clonoSEQ Assay is a single-site test performed at Adaptive Biotechnologies. In addition to its FDA-cleared uses, clonoSEQ is also available as a CLIA-validated laboratory developed test (LDT) service for use in other lymphoid cancers and sample types.  For important information about the FDA-cleared uses of clonoSEQ, including the full intended use, limitations, and detailed performance characteristics, please visit www.clonoSEQ.com/technical-summary.

    About the immunoSEQ® Assay

    The immunoSEQ Assay is the industry gold standard in immunosequencing and helps researchers make discoveries in areas such as oncology, autoimmune disorders, infectious diseases, neurobiology, transplant, and basic immunology. The immunoSEQ® Technology is a quantitative and sensitive immunosequencing solution for academic researchers and pharmaceutical companies to understand the immune response to diseases and therapeutics by sequencing the DNA of immune receptors at high throughput scale. The immunoSEQ® T-MAP COVID offering is the first and only service of its kind to accurately and reproducibly assess the T-cell immune response to COVID-19 vaccines in development and longitudinally track the persistence of that response over time.

    The immunoSEQ Assay can identify millions of T- and B-cell receptors from a single sample in exquisite detail. Offered as a Service or Kit, the immunoSEQ Assay is used to ask and answer translational research questions and discover new prognostic and relevant signals in clinical research. The immunoSEQ Assay provides quantitative, scalable, and reproducible sequencing results along with access to a powerful, easy-to-use analysis tools via the immunoSEQ® Analyzer software. The immunoSEQ Assay is for research use only and is not for use in diagnostic procedures. For more information visit us at www.immunoseq.com

    About Labcorp

    Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With more than 75,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE:LH) reported revenue of $14 billion in FY2020. Learn more about us at www.Labcorp.com or follow us on LinkedIn and Twitter @Labcorp.

    About Adaptive

    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. We believe 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. Our 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. For more information, please visit adaptivebiotech.com and follow us on www.twitter.com/adaptivebiotech.

    Adaptive Biotechnologies Forward Looking Statements

    This press release contains forward-looking statements that are based on Adaptive Biotechnologies' management's beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.

    ADAPTIVE MEDIA

    Beth Keshishian

    917-912-7195

    ADAPTIVE INVESTORS

    Karina Calzadilla, Vice President, Investor Relations

    201-396-1687

    Carrie Mendivil, Gilmartin Group

    LABCORP CONTACTS:

    Media: Christopher Allman-Bradshaw

    336-436-8263

    Investors: Chas Cook

    336-436-5076



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  4. T-Detect is currently under review by the U.S. Food and Drug Administration (FDA) for Emergency Use Authorization (EUA)

    Patients can conveniently opt to visit one of nearly 2,000 Labcorp sites or arrange for a mobile phlebotomy service at their home 

    SEATTLE, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced the launch of T-Detect COVID, the first clinical T-cell based test to confirm recent or prior COVID-19 infection. In real-world studies, this first-in-class test outperformed leading antibody tests.

    Knowledge of prior COVID-19…

    T-Detect is currently under review by the U.S. Food and Drug Administration (FDA) for Emergency Use Authorization (EUA)

    Patients can conveniently opt to visit one of nearly 2,000 Labcorp sites or arrange for a mobile phlebotomy service at their home 

    SEATTLE, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced the launch of T-Detect COVID, the first clinical T-cell based test to confirm recent or prior COVID-19 infection. In real-world studies, this first-in-class test outperformed leading antibody tests.

    Knowledge of prior COVID-19 infection is critically important for those who believe they may have been infected with the virus but have not been able to confirm a diagnosis. T-Detect is currently under review by the U.S. Food and Drug Administration (FDA) for Emergency Use Authorization (EUA).

    "The impact of COVID-19 has become its own public health crisis, with millions of people, like me, who are dealing with serious, long-term effects of this virus," said Diana Berrent, founder, Survivor Corps, the largest grassroots movement in America dedicated to actively ending this pandemic. "A T-cell test is an important tool for people who want to know if they had COVID-19 and may help them to understand and address ongoing health issues. It is important for patients to participate in ongoing research so that in the future, the same test may help answer questions about immunity to and protection from the virus or to a vaccine."

    Patients can order T-Detect COVID online at www.t-detect.com by answering a few eligibility questions through a secure portal. A virtual provider will authorize a prescription and patients can have their blood drawn by a mobile phlebotomist at their home or they can visit one of nearly 2,000 Labcorp patient service centers. Patients will receive an email notification when their results are available, and they can view them via a secure portal.

    "T-Detect COVID is the first T-cell test for patients and the first product resulting from Adaptive's TCR-Antigen Map collaboration with Microsoft," said Adaptive Biotechnologies Chief Executive Officer, Chad Robins. "By mapping the human immune response to COVID-19, we have developed a simple blood-based clinical test to help detect recent or prior infections from our T cells. This approach will be scaled for more accurate and early diagnosis of many infectious diseases, autoimmune disorders and cancer." 

    Until now, antibody tests have been the primary way to determine recent or prior COVID-19 infection. T-cell tests take an entirely new approach to determine prior infection by looking at a different but equally important part of our immune system, the T cell. In the setting of COVID-19, T-cell responses arise earlier than antibodies and persist in the blood for longer. 

    Patients ordering T-Detect COVID have the opportunity to contribute to ongoing research to further the understanding of T cell-based immunity to COVID-19. This is particularly important as scientists work to define immunity and establish correlates of protection to SARS-CoV-2, the virus that causes COVID-19, resulting from natural infection or vaccination.  

    About the T cell

    T cells are the adaptive immune system's first responders to detect any virus. They quickly multiply and circulate in the blood to attack the virus, often before symptoms appear. Among many other jobs, T cells also recruit B cells to produce antibodies after about a week or two to potentially provide immunity against future infection. T cells contain a treasure trove of information that could provide one consistent and trackable measure of the immune response to COVID-19 from initial exposure through viral clearance. 

    T cells can "remember" prior infections and kill pathogens if they reappear. Research shows that antibodies to SARS-CoV-2 decline over time. T cells hold important clues to immunity and correlates of protection and need to be studied to assess how long patients remain resistant to reinfection. Given T cells circulate freely in the blood, they are an easy and thus a desirable target for assessing SARS-CoV-2 exposure and potentially immunity.

    About T-Detect 

    T-Detect is a highly sensitive and specific diagnostic test under development for multiple diseases, translating the natural diagnostic capability of T cells into clinical practice. In 2018, Adaptive and Microsoft partnered to build a map of the immune system called the TCR-Antigen Map. This approach uses immunosequencing, proprietary computational modeling, and machine learning to map T-cell receptor sequences to disease-associated antigens for infectious diseases, autoimmune disorders and cancer. From a simple blood draw, T-Detect will leverage the map to provide an immunostatus for an individual, enabling early disease diagnosis, disease monitoring, and critical insights into immunity. T-Detect COVID is the first clinical test launched from this collaboration and the first commercially available T-cell test designed to detect recent or prior SARS-CoV-2 infections. T-Detect COVID is an in vitro diagnostic that is available for prescription use only. This test has not been cleared or approved by the FDA and is available for use as a CLIA-validated laboratory developed test (LDT). T-Detect COVID is not indicated for use in patients under age 18.

     

    About 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. We believe 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. Our 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. For more information, please visit adaptivebiotech.com and follow us on www.twitter.com/adaptivebiotech. 

    Forward Looking Statements

    This press release contains forward-looking statements that are based on management's beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations, including forward-looking statements contained in this press release or elsewhere related to T-Detect COVID and its ability to detect recent or past COVID-19 infection, either in its current form or with respect to future mutations of the virus, as well as the potential application of T-Detect to additional disease states.

    In some cases, you can identify forward-looking statements by the words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.

    MEDIA CONTACT:

    Beth Keshishian

    917-912-7195

    ADAPTIVE INVESTORS:

    Karina Calzadilla

    201-396-1687

    Carrie Mendivil, Gilmartin Group



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  5. SEATTLE, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT)  a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced it will report financial results for the fourth quarter and full year of 2020 after market close on Wednesday, February 24, 2021. Company management will webcast a corresponding conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time.

    Live audio of the webcast will be available on the "Investors" section of the company website at: www.adaptivebiotech.com. The webcast will be archived and available for replay within 24 hours after the event.

    About Adaptive

    SEATTLE, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (NASDAQ:ADPT)  a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced it will report financial results for the fourth quarter and full year of 2020 after market close on Wednesday, February 24, 2021. Company management will webcast a corresponding conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time.

    Live audio of the webcast will be available on the "Investors" section of the company website at: www.adaptivebiotech.com. The webcast will be archived and available for replay within 24 hours after the event.

    About 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. We believe 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. Our 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.

    ADAPTIVE INVESTORS

    Karina Calzadilla, Vice President, Investor Relations

    201-396-1687

    Carrie Mendivil, Gilmartin Group

    ADAPTIVE MEDIA

    Beth Keshishian

    917-912-7195



    Primary Logo

    View Full Article Hide Full Article
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