Adaptive Biotechnologies shifts to MRD diagnostics with strong growth and profitability after Immune Medicine spin-off

Adaptive Biotechnologies is focusing on measurable residual disease (MRD) diagnostics by spinning off its Immune Medicine division, which revealed strong profitability. The company reported a 49% year-over-year growth in MRD revenue (excluding milestones), sequencing gross margins above 70%, and an adjusted EBITDA margin of 14%. Refinancing efforts removed a 5% perpetual revenue burden, and the spin-off will eliminate $6 million in quarterly adjusted EBITDA losses, clarifying earnings. Adoption of their clonoSEQ MRD test is accelerating, with blood-based testing now 51% of MRD volume, a 65% increase in community oncology use, and a $245 million pharmaceutical backlog, indicating strong long-term growth potential.