Company: ADPT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001193125-25-267061
Chunk: 5

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 5
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CL. We also obtained a new Medicare Clinical Laboratory Fee Schedule 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. In April 2025, Palmetto GBA expanded coverage of clonoSEQ to include single time point testing to monitor for recurrence in patients with a history of MCL. This expanded coverage is in addition to the existing Medicare episode payment structure for clonoSEQ. With the use of clonoSEQ, we are transforming how lymphoid cancers are treated by working with providers, pharmaceutical partners and payors. In an effort to enable easier test ordering, we have integrated our clonoSEQ test into electronic medical record systems, including Epic System Corporation's Aura and Flatiron Health's OncoEMR, of numerous accounts.

Immune Medicine leverages our proprietary ability to sequence, map, pair and characterize T cell receptors (“TCRs”) and B cell receptors (“BCRs”) at scale to drive opportunities in cancer and autoimmune disorders. Our immunosequencing technology, which includes our Adaptive Immunosequencing research product, serves as the research and development engine driving our immune medicine platform and generates revenue from biopharmaceutical and academic customers. We are applying artificial intelligence and machine learning models to map at scale TCR sequences to the diseases they bind to enable our drug discovery efforts. Also in our drug discovery programs, we use our proprietary capabilities to discover new drug targets and leverage our validated TCR and BCR discovery approaches to discover and develop TCR or antibody therapeutic assets.

We recognized revenue of $94.0 million and $46.4 million for the three months ended September 30, 2025 and 2024, respectively, and $205.3 million and $131.5 million for the nine months ended September 30, 2025 and 2024, respectively. Net income attributable to Adaptive Biotechnologies Corporation was $9.5 million for the three months ended September 30, 2025. Net loss attributable to Adaptive Biotechnologies Corporation was $32.1 million for the three months ended September 30, 2024. Net loss attributable to Adaptive Biotechnologies Corporation for the nine months ended September 30, 2025 and 2024 was $45.9 million and $ 125.8 million, respectively. We have funded our operations to