Company: ADPT
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-103752
Chunk: 10

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 10
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 as required by law. Forward-looking statements should be evaluated together with the many uncertainties that affect our business, particularly those mentioned in the risk factors in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, and our periodic reports on Form 10-Q as well as our current reports on Form 8-K.**

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2024 COMPANY HIGHLIGHTS Selected 2024 Corporate Performance Highlights Summary of Performance In 2024, we reorganized our company around two main businesses: the “MRD business,” consisting of clinical assessment of minimal residual disease (“MRD”) in lymphoid malignancies, and “Immune Medicine” or the “IM business,” focused on the discovery and development of transformative immune-based therapies in the treatment of patients with cancer and autoimmune diseases. In 2024, our revenue was $179.0 million, compared to $170.3 million in 2023. The increase was primarily driven by the MRD business, partially offset by a reduction in revenue recognized by the IM business mainly attributed to a decline in the amortization of the upfront payment from Genentech, Inc. (“Genentech”). Our operating expenses were significantly reduced as a result of continued streamlining of our operations during the year. Operating expenses were $341.5 million in 2024, including $7.2 million of non-cashasset impairment charges and $2.0 million in other restructuring charges, as compared to $397.3 million in 2023, of which $25.4 million represented non-cashasset impairment charges. As of December 31, 2024, cash, cash equivalents and marketable securities was $256.0 million. Selected 2024 Results MRD Business Highlights

| • |     | Total MRD revenue in 2024 was $145.5 million, representing 42% growth from 2023, which included $12.5 million in revenue from milestones. We grew clonoSEQ test volume by 35% year over year. |

| • |     | Payor coverage has extended to over 300 million lives in B cell acute lymphoblastic leukemia (ALL) and multiple myeloma (MM), over 200 million lives in chronic lymphocytic leukemia (CLL) and over 70 million lives in diffuse large B cell lymphoma (DLBCL). In addition, we obtained Medicare coverage for mantle cell lymphoma (MCL) and initiated