Adaptive Biotechnologies Corporation reported a significant increase in revenue for the first quarter of 2026, achieving $70.9 million, up 35% from $52.4 million in the same period of 2025. The growth was primarily driven by a 53% increase in Minimal Residual Disease (MRD) revenue, which rose to $67.1 million, largely due to higher sales of the clonoSEQ test and regulatory milestone achievements. In contrast, revenue from the Immune Medicine segment decreased by 57% to $3.8 million, attributed to the termination of a collaboration agreement with Genentech and reduced sample testing revenue.
Despite the revenue growth, the company reported a net loss of $20.0 million for the quarter, an improvement from the $29.9 million loss recorded in the prior year. The loss per share attributable to common shareholders was $0.13, compared to $0.20 in the previous year. Total operating expenses increased to $90.1 million from $82.0 million, with notable rises in sales and marketing expenses, which grew by 14% to $26.3 million, and general and administrative expenses, which increased by 21% to $21.0 million.
Operationally, Adaptive Biotechnologies saw a 41% increase in clonoSEQ test volume, delivering 32,595 tests in the first quarter of 2026 compared to 23,117 tests in the same quarter of 2025. The company continues to expand its market presence, integrating its clonoSEQ test into electronic medical record systems to facilitate easier ordering by healthcare providers. As of March 31, 2026, the company had cash, cash equivalents, and marketable securities totaling $237.2 million, slightly down from $240.2 million at the end of 2025.
Looking ahead, Adaptive Biotechnologies remains optimistic about its growth trajectory, particularly in the MRD segment, as it aims to enhance testing volumes and optimize payer coverage. The company anticipates that its existing cash reserves will be sufficient to fund operations for at least the next 12 months, while also considering additional capital to support business expansion and strategic investments. The management's focus will continue to be on leveraging its immune medicine platform to develop and commercialize innovative products and services.
About Adaptive Biotechnologies Corp
Adaptive Biotechnologies Corporation develops immune medicine products leveraging proprietary next-generation sequencing and machine learning to decode the adaptive immune system. Its core offerings include clonoSEQ, an FDA-authorized assay for detecting minimal residual disease (MRD) in lymphoid cancers, serving clinicians and biopharmaceutical partners. The company also advances immune-based therapies for cancer and autoimmune diseases through its extensive immunosequencing platform, large clinical database, and collaborations with pharmaceutical firms.
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