Adaptive Biotechnologies Sets November 4 Date for Q3 2026 Results

Adaptive Biotechnologies (ADPT ) will report financial results for the third quarter of 2026 after market close on Wednesday, November 4, 2026, the company said in an October 14 announcement. Company management will webcast a corresponding conference call beginning at 1:30 p.m. Pacific Time and 4:30 p.m. Eastern Time. Live audio of the webcast will be available on the Investors section of the company’s website, and the webcast will be archived and available for replay within 24 hours after the event.

The Seattle-based company described itself in the announcement as a commercial-stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease.

Second-Quarter 2026 Results

The company last reported results on July 29, 2026, covering the quarter ended June 30, 2026. In that second-quarter report, Adaptive reported revenue of $71.6 million, a 22% increase from the second quarter of 2025. Excluding revenue recognized under the Genentech Agreement, which did not generate revenue in the quarter, revenue increased 30%.

Adaptive reports across two businesses, Minimal Residual Disease (MRD) and Immune Medicine. MRD revenue was $66.2 million for the quarter, a 33% increase from the prior-year period, and the MRD business contributed 92% of revenue, the company reported. Immune Medicine revenue was $5.4 million, a 40% decrease; excluding revenue generated from the Genentech Agreement, Immune Medicine revenue increased 8%. Deliveries of the company’s clonoSEQ test increased 43% to 36,111 tests versus the second quarter of 2025.

Operating expenses were $87.3 million, compared with $83.9 million in the prior-year quarter, an increase of 4%. Interest and other income, net, was $2.3 million, compared with $2.4 million a year earlier, and interest expense was $2.7 million, compared with $2.9 million. Net loss was $39.9 million, compared with $25.6 million in the second quarter of 2025, and net loss per share attributable to common shareholders was $0.25 on a basic and diluted basis, compared with $0.17. The company’s statements show a $23.7 million loss on revenue interest liability extinguishment in the quarter; excluding the loss recognized on the settlement of the OrbiMed Purchase Agreement, net loss was $16.2 million.

Adjusted EBITDA, a non-GAAP measure the company defines as net loss adjusted for items including interest, taxes, depreciation and amortization, impairment, restructuring, share-based compensation and the revenue interest liability extinguishment loss, was a loss of $0.7 million, compared with a loss of $7.2 million a year earlier. MRD segment Adjusted EBITDA was $9.1 million, compared with $1.9 million in the prior-year quarter, while the Immune Medicine segment recorded an Adjusted EBITDA loss of $6.3 million, compared with a loss of $5.7 million. Cash, cash equivalents and marketable securities totaled $371.7 million as of June 30, 2026, including $15.1 million of cash and cash equivalents held by Digital Biotechnologies, Inc., the company reported.

“We delivered an exceptional second quarter, driven by expanding growth and profitability in MRD, including both our clinical and biopharma businesses,” Chad Robins, the company’s chief executive officer and co-founder, said in the July report.

2026 Guidance and June Convertible Financing

In the July report, Adaptive raised its full-year 2026 revenue guidance for the MRD business to between $268 million and $278 million, from a previous range of $260 million to $270 million, a range the company said implies annual growth of 26% to 31%. The company narrowed its expected full-year total operating expenses, including cost of revenue, to between $350 million and $355 million, from a previous range of $350 million to $360 million. It provides no revenue guidance for the Immune Medicine business.

The company also reported in July that it had completed a $345 million zero-coupon convertible senior notes offering and repaid the OrbiMed Purchase Agreement.

The notes were priced on June 17, 2026 as $300 million in aggregate principal amount of 0% convertible senior notes due 2031, upsized from a previously announced offering of $250 million, in a private offering to persons reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act, according to the company’s pricing announcement. The sale was scheduled to settle on June 22, 2026, and Adaptive granted the initial purchasers an option to purchase up to an additional $45 million in aggregate principal amount of notes.

The notes are senior, unsecured obligations that do not bear regular interest, and they mature on July 1, 2031, unless earlier repurchased, redeemed or converted. The initial conversion rate is 41.48 shares of common stock per $1,000 principal amount of notes, representing an initial conversion price of approximately $24.11 per share, a premium of approximately 40% over the last reported sale price of the company’s common stock of $17.22 per share on June 16, 2026, the company said.

Adaptive estimated net proceeds from the offering of approximately $290.8 million, or approximately $334.5 million if the initial purchasers exercised their option in full. The company said it would use approximately $22.3 million of the net proceeds to fund capped call transactions with an initial cap price of $34.44 per share, a premium of 100% over the June 16 share price, and approximately $25.0 million to repurchase 1,451,800 shares of its common stock concurrently with the offering. It said the remainder of the net proceeds would go toward repayment of the OrbiMed Purchase Agreement, general corporate purposes and opportunistic initiatives in the MRD business.

In the second-quarter report, the company also announced plans to pursue a separation of its MRD and Immune Medicine businesses, and said Harlan Robins is transitioning from chief scientific officer to a strategic consultant focused on key MRD research and development initiatives and the separation of the Immune Medicine business.