Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 240

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 240
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 efforts for the collaboration. To test the estimate of total expected research and development costs, we performed audit procedures that included, among others, observing the quarterly meetings with accounting and the Company collaboration managers discussing the status of the collaboration and the likely path of future development. We also reviewed supporting documentation to corroborate progress and status of the collaboration, including meeting minutes or summaries from the joint committees.  

/s/ Ernst & Young LLP

We have served as the Company’s auditor since 2015.

Seattle, Washington

March 3, 2025

90

Adaptive Biotechnologies Corporation

Consolidated Balance Sheets

(in thousands, except share and per share amounts)

    December 31,

    2024

    2023

    Assets

    Current assets

    Cash and cash equivalents
     
    $
    47,920

    $
    65,064

    Short-term marketable securities (amortized cost of $174,186 and $281,122, respectively)

    174,374

    281,337

    Accounts receivable, net

    41,731

    37,969

    Inventory

    8,440

    14,448

    Prepaid expenses and other current assets

    11,287

    11,370

    Total current assets

    283,752

    410,188

    Long-term assets

    Property and equipment, net

    48,616

    68,227

    Operating lease right-of-use assets

    45,767

    52,096

    Long-term marketable securities (amortized cost of $33,682)

    33,660

    —

    Restricted cash

    2,897

    2,932

    Intangible assets, net

    3,425

    5,128

    Goodwill

    118,972

    118,972

    Other assets

    2,287

    3,591

    Total assets
     
    $
    539,376

    $
    661,134

    Liabilities and shareholders’ equity

    Current liabilities

    Accounts payable
     
    $
    7,265

    $
    7,719

    Accrued liabilities

    8,157

    8,597

    Accrued compensation and benefits

    15,