After evaluating a number of potential opportunities as part of the strategic review, Adaptive’s management team and board of directors concluded that the current best outcome to maximize shareholder value is to operate the MRD and Immune Medicine businesses internally within Adaptive while increasing their independence from one another by restructuring each business with dedicated resources and separate segment reporting. Importantly, under this structure, Adaptive preserves its strong capital position which will bridge the MRD business to profitability and support targeted investments in Immune Medicine.
Management will provide further details on the process and outcome of the strategic review during the conference call this afternoon.
First Quarter 2023 Preliminary, Unaudited Revenue Results
- Total revenue of approximately $41 to $43 million for the first quarter of 2024, an increase of approximately 12% compared to the first quarter of 2023.
- MRD revenue of approximately $31 to $32 million for the first quarter of 2024, an increase of approximately 47% compared to the first quarter of 2023.
Webcast and Conference Call Information
Adaptive Biotechnologies will host a conference call to discuss its business updates after market close on Tuesday, April 2, 2024 at 1:30 PM Pacific Time / 4:30 PM Eastern Time. The conference call can be accessed at http://investors.adaptivebiotech.com. The webcast will be archived and available for replay at least 90 days after the event.
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