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Adaptive Biotechnologies Corp (ADPT) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Adaptive Biotechnologies Corp

CIK: 1478320 Ticker: ADPT

EXHIBIT 99.1

Adaptive Biotechnologies Announces Preliminary, Unaudited 2021 Revenue Results and CFO Transition

 

 

SEATTLE, Jan. 10, 2022 (GLOBE NEWSWIRE) – Adaptive Biotechnologies Corporation (Nasdaq: ADPT) today reported preliminary, unaudited revenue for the year ended December 31, 2021. Total revenue for the year ended December 31, 2021 is estimated to be in the range of $153 million to $154 million, representing an approximate increase of 56% at the mid-point of the range compared to $98.4 million for the year ended December 31, 2020.

“The Adaptive team delivered strong results in 2021, setting the stage to accelerate our immune medicine and MRD business areas,” said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. “Our goal is to transform the genetics of the adaptive immune system into novel diagnostics and therapeutics. We are in a strong position and poised for sustainable future growth.”

These preliminary, unaudited results are based on management’s initial analysis of operations for the year ended December 31, 2021 and are subject to change. Adaptive Biotechnologies expects to issue full financial results for the year ended December 31, 2021 on or around February 15, 2022.

Adaptive further announced that Chad Cohen, chief financial officer, will be resigning from his role, effective on or about February 15, 2022, following the filing of Adaptive Biotechnologies’ Annual Report on Form 10-K for the year ended December 31, 2021.  Adaptive Biotechnologies’ principal accounting officer, Kyle Piskel, will serve as interim CFO after Mr. Cohen’s resignation. Adaptive Biotechnologies has initiated a search for a permanent CFO with the capabilities and qualifications to help accelerate the development and commercialization of products resulting from the insights provided by its proprietary immune medicine platform. Mr. Cohen will continue to work with Adaptive Biotechnologies and Mr. Piskel in a consulting capacity to ensure a smooth transition.

“I’d like to thank Chad Cohen for his excellent contributions to both the financial and operational success at Adaptive over the last seven years,” said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. “We wish him all the best and we look forward to working with him through the transition.”

About Adaptive Biotechnologies
Adaptive Biotechnologies is a commercial-stage biotechnology company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. We believe the adaptive immune system is nature’s most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Our proprietary immune medicine platform reveals and translates the massive genetics of the adaptive immune system with scale, precision and speed to develop products in life sciences research, clinical diagnostics and drug discovery. We have three commercial products and a robust clinical pipeline to diagnose, monitor and enable the treatment of diseases such as cancer, autoimmune conditions and infectious diseases. Our goal is to develop and commercialize immune-driven clinical products tailored to each individual patient. For more information, please visit adaptivebiotech.com and follow us on www.twitter.com/adaptivebiotech.

Forward Looking Statements
This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our

 


The following information was filed by Adaptive Biotechnologies Corp (ADPT) on Monday, January 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Adaptive Biotechnologies Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Convertible Preferred Stock And Shareholders' (Deficit) Equity
Consolidated Statements Of Operations
Accrued Liabilities
Accrued Liabilities (Tables)
Accrued Liabilities - Additional Information (Details)
Accrued Liabilities - Schedule Of Accrued Liabilities (Details)
Commitments And Contingencies
Deferred Revenue
Deferred Revenue (Tables)
Deferred Revenue - Additional Information (Details)
Deferred Revenue - Additional Information (Details1)
Deferred Revenue - Schedule Of Changes In Deferred Revenue (Details)
Deferred Revenue - Schedule Of Deferred Revenue By Revenue Classification (Details)
Equity Incentive Plans
Equity Incentive Plans (Tables)
Equity Incentive Plans - Additional Information (Details)
Equity Incentive Plans - Summary Of Changes In Shares Available For Grant (Details)
Equity Incentive Plans - Summary Of Compensation Costs Related To Stock Options And Rsus Included On Statements Of Operations (Details)
Equity Incentive Plans - Summary Of Estimated Grant Date Fair Values Of Options Granted (Details)
Equity Incentive Plans - Summary Of Restricted Stock Unit Activity (Details)
Equity Incentive Plans - Summary Of Stock Option Activity Under 2009 Plan And 2019 Plan (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Summary Of Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Schedule Of Future Amortization Expense For Intangible Assets (Details)
Goodwill And Intangible Assets - Summary Of Intangible Assets Subject To Amortization (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Change In Unrecognized Tax Benefits (Detail)
Income Taxes - Schedule Of Components Of Loss Before Provision For Income Taxes (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Reconciliation Of Effective Tax Rate Of Provision For Income Taxes Differs From Federal Statutory Rate (Detail)
Investments
Investments (Tables)
Investments - Additional Information (Details)
Investments - Schedule Of Available-For-Sale Investments (Details)
Investments - Schedule Of Gross Unrealized Holding Losses And Fair Value For Investments In Unrealized Loss Position (Details)
Leases
Leases (Tables)
Leases- Additional Information (Details)
Leases- Summary Of Other Information Related To Operating Lease (Details)
Leases- Summary Of Reconciles Undiscounted Operating Lease Cash Flows (Details)
Microsoft Collaboration Agreement
Microsoft Collaboration Agreement - Additional Information (Details)
Net Loss Per Share Attributable To Adaptive Biotechnologies Corporation Common Shareholders
Net Loss Per Share Attributable To Adaptive Biotechnologies Corporation Common Shareholders (Tables)
Net Loss Per Share Attributable To Adaptive Biotechnologies Corporation Common Shareholders - Computation Of The Basic And Diluted Net Loss Per Share Attributable To Common Shareholders (Details)
Net Loss Per Share Attributable To Adaptive Biotechnologies Corporation Common Shareholders - Weighted-Average Common Stock Equivalents Were Excluded From Calculation Of Diluted Net Loss Per Share (Details)
Organization And Description Of Business
Organization And Description Of Business - Additional Information (Details)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Details)
Property And Equipment, Net - Schedule Of Property And Equipment (Details)
Retirement Plan
Retirement Plan - Additional Information (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Schedule Of Revenue Disaggregated By Type Of Products And Services (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Additional Information (Details)
Shareholders' Equity - Summary Of Reserved Shares Of Common Stock (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Details)
Significant Accounting Policies - Schedule Of Concentrations Of Risk Percentage (Details)
Significant Accounting Policies - Summary Of Useful Lives Assigned To Property And Equipment (Details)
Ticker: ADPT
CIK: 1478320
Form Type: 10-K Annual Report
Accession Number: 0001564590-22-005228
Submitted to the SEC: Tue Feb 15 2022 4:31:38 PM EST
Accepted by the SEC: Tue Feb 15 2022
Period: Friday, December 31, 2021
Industry: Biological Products No Disgnostic Substances

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