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The immune sequencing firm has engaged the FDA in discussions over how to get regulatory approval for one test for several seemingly different diseases.
The Seattle-based immune sequencing firm will not receive any proceeds from the sale of the shares.
The immune sequencing firm announced preliminary full-year 2019 revenues in the range of $84 million to $85 million, an increase of approximately 52 percent.
Abbott highlighted its next-generation Alinity platforms, and Caris discussed its plans to provide precision oncology services.
Amgen's latest deal with a pharma company will see its clonoSeq assay used for minimal residual disease testing in a clinical trial for venetoclax.
The Seattle-based immune cell sequencing firm saw sequencing revenues grow 38 percent while development revenues rose 65 percent.
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.
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.