Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 8

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 8
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 including $7.2 million of non-cash asset 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-cash asset impairment charges. As of December 31, 2024, cash, cash equivalents and marketable securities was $256.0 million.

3

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 ALL and MM, over 200 million lives in CLL and over 70 million lives in DLBCL. In addition, we obtained Medicare coverage for MCL and initiated promotional efforts in MCL in the fourth quarter of 2024.

•We obtained a new Medicare Clinical Laboratory Fee Schedule (“CLFS”) rate of $2,007 per test for clonoSEQ and MolDX updated the clonoSEQ episode pricing to $8,029 for all covered indications. This represents a 17% increase from the previous episode price and the previous implied per test rate under the episode structure.

•We have integrated the clonoSEQ clinical diagnostic test via the Epic System Corporation's (“Epic”) comprehensive electronic medical record (“EMR”) system into the records systems of 18 accounts through 2024 to enable easier test ordering. 

•Our clonoSEQ assay was being used in more than 170 active trials being conducted by over 40 biopharmaceutical partners, including more than 85 trials where MRD is a clinical endpoint (14 of which use MRD as a primary endpoint).

IM Business Highlights

•In oncology, we are jointly pursuing with Genentech the development and delivery of the highest impact antigen-directed TCR based cell therapy for the treatment of patients with different solid tumor types. In 2024, we made significant progress to improve turnaround times and reduce costs, which we believe will enhance the profile of potential cell therapy product(s).

•In autoimmunity, we narrowed our focus to select T-cell medicated indications with high unmet clinical and commercial need, such as MS and T1D, among others. In these indications we successfully identified a subset of autoreactive or problem T cell receptors that are likely causing disease. Our therapeutic strategy is to