Close Menu

Adaptive Biotechnologies

The Seattle-based immune cell sequencing firm saw sequencing revenues grow 38 percent while development revenues rose 65 percent.

Of the 29 companies in the index, 18 companies' share prices declined while the share values of 11 increased month over month.

Of the 29 companies in the index, 16 firms' share prices retreated while the other 13 saw their stock prices rise month over month.

Industry experts say a receptive market and investor interest in new technologies have spurred the increase in genomics tools and molecular diagnostics IPOs. 

Seattle-based Adaptive will develop in vitro diagnostic test kits for distribution, which will run on Illumina's NextSeq 550 Dx system.

The immune sequencing firm is working on kit-ifying its two existing tests, as well as developing a second clinical test and expanding the label for clonoSeq.

In its first quarter operating as a public company, the Seattle-based immune sequencing firm more than tripled development revenues and grew sequencing revenues.

The regulatory approval means that the assay for minimal residual disease is available to monitor B cell blood cancers in patients in all 50 states.

Cowen and William Blair initiated coverage of Adaptive with Outperform ratings, while JP Morgan assigned an Overweight rating and a $45 price target to the firm's stock.

Pages