ADPT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• In June 2026, we announced our intention to pursue a separation of our Immune Medicine and MRD businesses, with the intent to identify our preferred path of separation by year-end 2026. Additionally, in July 2026, we decided to wind down our research-use-only pharma services offering for T-cell rece…

• Also in June 2026, we issued $345.0 million in aggregate principal amount of Notes and used $25.6 million of the proceeds to enter into privately negotiated capped call transactions. The capped call transactions are generally expected to reduce the potential dilution to our common stock upon any con…

• We derive revenue by providing diagnostic and research services in our MRD and Immune Medicine business areas. Our MRD revenue consists of revenue generated from (1) providing our clonoSEQ report to clinical customers; (2) providing MRD sample testing services to biopharmaceutical customers and cert…

• We expect our Immune Medicine revenue to decrease in the short term as we wind down Adaptive Immunosequencing services over the second half of 2026 and focus on target discovery business development efforts. Following the wind down of Adaptive Immunosequencing services, our Immune Medicine revenue m…

• Interest expense includes costs associated with our now settled revenue interest liability and the noncash interest costs associated with the full amortization of deferred issuance costs related to the Purchase Agreement, as well as the amortization of deferred costs related to issuance of the Notes…

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• We derive revenue by providing diagnostic and research services in our MRD and Immune Medicine business areas. Our MRD revenue consists of revenue generated from (1) providing our clonoSEQ report to clinical customers; (2) providing MRD sample testing services to biopharmaceutical customers and cert…

• We expect our Immune Medicine revenue to increase in the short term. Our Immune Medicine revenue may fluctuate from period to period due to the timing of receipt of customer samples from our biopharmaceutical customers and the potential recognition of milestones under our target discovery agreement.

• Interest expense includes costs associated with our revenue interest liability related to the Purchase Agreement and noncash interest costs associated with the amortization of the related deferred issuance costs. We impute interest expense using the effective interest rate method. We calculate an ef…

• Comparison of the Three Months Ended March 31, 2026 and 2025

• The $23.4 million increase in MRD revenue was primarily due to a $15.8 million increase in revenue generated from providing clonoSEQ to clinical customers, a $4.5 million increase in revenue recognized upon the achievement of regulatory milestones by certain of our biopharmaceutical customers and a …

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our obligations under the Notes.

• In June 2026, we completed our offering of an aggregate principal amount of $345.0 million of Notes. We may also incur additional indebtedness to meet future financing needs. Our indebtedness could have significant negative consequences for our security holders and our business, results of operation…

• increasing our vulnerability to adverse economic and industry conditions;

• requiring the dedication of a substantial portion of our cash flow from operations to service our indebtedness, which will reduce the amount of cash available for other purposes;

• limiting our flexibility to plan for, or react to, changes in our business;

Text added vs the prior filing · source: 10-Q · 2026-08-04

• On July 30, 2026, we entered into a Data and Model Partnership and Platform Hosting Trial and Agreement (the “Platform Agreement”) with Harell Data Corp. (“Harell”), a data-sharing, cloud-computing company. With the approval of our board of directors, our Chief Scientific Officer and Co-founder, Dr.…

• On July 30, 2026, we entered into a consulting agreement with our former Chief Scientific Officer, Dr. Harlan Robins, effective August 1, 2026 pursuant to our standard form (the “Consulting Agreement”), under which Dr. Robins transitioned to a consultant in a scientific advisory role with us. Throug…

• These descriptions are summaries of the Platform Agreement and the Consulting Agreement, which we intend to file as exhibits to our Form 10-Q for the quarterly period ending September 30, 2026.

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• On March 13, 2026, Harlan Robins, Chief Scientific Officer, adopted a Rule 10b5-1 trading plan. Dr. Robins’s plan provides for the sale of up to 984,800 shares of our common stock until December 31, 2026. This plan was entered into during an open insider trading window and is intended to satisfy the…

• On March 16, 2026, Kyle Piskel, Chief Financial Officer, terminated a Rule 10b5-1 trading plan that had been adopted on August 28, 2025 and provided for the sale of up to 173,901 shares of common stock and 100% of the net vested shares of our common stock received in connection with the vesting of c…