SEATTLE - Adaptive Biotechnologies (NASDAQ:ADPT) Corporation (NASDAQ:ADPT) announced that its clonoSEQ® test for measurable residual disease (MRD) assessment will be featured in various presentations at two major upcoming medical congresses.
The test will be included in oral and poster presentations at the American Society of Clinical Oncology (ASCO) Annual Meeting, which starts today in Chicago, and at the European Hematology Association (EHA) Hybrid Congress, starting on June 13 in Madrid and virtually.
MRD status is recognized as a significant predictor of outcomes in blood cancers. clonoSEQ is the first and only FDA-cleared test to detect MRD in bone marrow from patients with multiple myeloma or B-cell acute lymphoblastic leukemia, and in blood or bone marrow from those with chronic lymphocytic leukemia.
The presentations will discuss the clinical significance of MRD testing with clonoSEQ in the blood cancer treatment landscape. Highlights include a Children’s Oncology Group-led study showing the strong correlation between bone marrow MRD assessment and peripheral blood MRD assessment in pediatric acute lymphoblastic leukemia. This suggests a less invasive monitoring method could be viable.
An analysis from the PERSEUS study demonstrated that achieving MRD negativity was associated with improved progression-free survival in patients treated with a combination of bortezomib, lenalidomide, dexamethasone, and daratumumab. Additionally, trials involving novel chimeric antigen receptor T cell therapies showed the utility of clonoSEQ in measuring deep responses and associating MRD negativity with progression-free survival.
Susan Bobulsky, Chief Commercial Officer, MRD, at Adaptive Biotechnologies, stated that clonoSEQ continues to set the standard in MRD assessment, aiding clinicians and drug developers with reliable insights for complex treatment decisions.
Adaptive Biotechnologies aims to translate the genetics of the adaptive immune system into clinical products for diagnosing and treating disease.
This information is based on a press release statement.
InvestingPro Insights
As Adaptive Biotechnologies Corporation (NASDAQ:ADPT) garners attention with its clonoSEQ® test at prominent medical congresses, investors and industry observers are closely monitoring the company's financial health and market performance. One notable highlight from InvestingPro data is that Adaptive Biotechnologies has a market capitalization of 532 million USD, reflecting its current valuation in the market.
The company's financials also show a complex picture. Despite a revenue growth of 11.23% in Q1 2024, the last twelve months have seen an overall revenue decline of -5.33%. This juxtaposition of short-term growth against a longer-term revenue contraction may signal evolving market dynamics or shifts in the company's operational efficiency. Furthermore, with a gross profit margin of 45.26% in the last twelve months as of Q1 2024, the company maintains a strong capacity to generate profit from its revenues despite the challenges presented.
InvestingPro Tips for Adaptive Biotechnologies indicate that while the company holds more cash than debt on its balance sheet, it is quickly burning through cash, which could be a concern for investors looking at the company's long-term financial sustainability. Additionally, analysts have revised their earnings downwards for the upcoming period, and they do not anticipate the company will be profitable this year. It's also important to note that Adaptive Biotechnologies does not pay a dividend to shareholders, which may influence the investment decisions of those seeking regular income streams from their holdings.
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