Adaptive Biotechnologies plans to sell up to 9.2M shares; revenue grew 52% in 2019

  • Seattle-based Adaptive Biotechnologies plans to sell up to 9.2 million shares of common stock by existing shareholders, the company said in a regulatory filing Tuesday.
  • The biotech giant went public this past June. Its stock has fallen nearly 50 percent, trading Tuesday at $26.80 per share.
  • Adaptive, which operates a sequencing platform that can read the human immune system, also revealed Tuesday its preliminary unaudited revenue for full year 2019. Revenue is expected to be $84-to-$85 million, up 52 percent year-over-year. The company expects operating and net loss to increase.
  • In its prospectus, Adaptive estimated its market opportunity to be greater than $48 billion. Adaptive has inked partnerships on a range of ventures with organizations such as Microsoft, Genentech, Illumina and Amgen.