Adaptive Biotechnologies Corporation (ADPT)

Adaptive Biotechnologies Corporation (ADPT) is a commercial-stage biotechnology company that reads and translates the human adaptive immune system, headquartered in Seattle, Washington. Led by CEO Chad Robins, Adaptive’s strategic mission is to "transform the treatment of disease by unlocking the immense data held within the immune system." The company holds a unique industry position as the leader in Minimal Residual Disease (MRD) testing through its clonoSEQ® platform. Adaptive’s vision is to make immune-driven medicine the standard of care for oncology and beyond. By late 2025, ADPT stock achieved a historic turning point as its MRD business reached cash flow positivity and reported a 52% year-over-year revenue increase.

The business operations of Adaptive are now primarily focused on its high-growth MRD segment, which accounts for 60% of total revenue. In fiscal 2025, the company reported 27,111 clonoSEQ tests delivered in a single quarter and successfully integrated new NCCN guidelines for Chronic Lymphocytic Leukemia (CLL) that incorporate MRD-guided treatment. The 2026 strategic roadmap focuses on "Immune Medicine Rebalancing," leveraging its massive T-cell receptor (TCR) database to secure new pharma partnerships following the wind-down of the Genentech agreement. Adaptive holds a "Data Moat" consisting of billions of immune receptors sequenced, providing a proprietary foundation for drug discovery. With a significantly reduced cash burn rate and rising MRD margins, the company is transitioning from a high-growth research entity into a profitable diagnostics powerhouse.