Dark pool activity was detected in ADPT stock on January 24, 2020.

We are unable to determine if this dark pool trade was a buy or sell order. The dark pool trade though was huge in terms of relative volume. This dark pool order represented a whopping 44% of the average daily volume in the stock. The trade occurred at a price of $30.23. ADPT stock ultimately closed in after-hours trading at $30.89 which suggests the dark pool trade could have been a buy order.

The company reported preliminary revenue growth of an incredible 52% YoY last week.

On January 21, 2020, Adaptive Biotechnologies Corporation (Nasdaq:ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, announced today preliminary unaudited revenue for the full year 2019.

Preliminary and unaudited revenue for full year 2019 is expected to be in the range of $84 – $85 million, reflecting growth of approximately 52% at the midpoint of the range over full year 2018.

“We are pleased with our strong performance in the fourth quarter, as we continued accelerating our efforts to scale our business to aggressively pursue the large pipeline opportunity in front of us,” said Chad Robins, CEO and co-founder of Adaptive Biotechnologies. “Following our FDA clearance and reimbursement progress for clonoSEQ, we focused on investing in market development activities to educate clinicians about the benefits of monitoring MRD for their patients, activating key accounts, and establishing order workflow. During the fourth quarter, these investments translated into meaningful growth in our clinical volumes which grew by more than 25% from third quarter 2019.”

Partly reflecting these investments, Adaptive expects operating and net loss for the year ended December 31, 2019 to increase compared to 2018 and expects operating and net loss for the three months ended December 31, 2019 to increase compared to the three months ended September 30, 2019.

The preliminary financial results and clinical volume growth rate included in this release are estimates prior to the completion of Adaptive’s financial closing procedures and audit procedures by its external auditors and therefore may be subject to adjustment when the actual results are available. Adaptive expects to provide full year 2019 financial results during its fourth quarter 2019 earnings call in late February 2020.

On January 8, 2020, Adaptive Biotechnologies Corporation announced that Palmetto GBA, a Medicare Administrative Contractor (MAC) that assesses diagnostic technologies through its MolDX program, has expanded coverage of the company’s clonoSEQ Assay to include monitoring minimal residual disease (MRD) in Medicare patients with chronic lymphocytic leukemia (CLL). This adds to existing Medicare coverage in B-cell acute lymphoblastic leukemia (ALL) and multiple myeloma, which was established in January 2019. Medicare coverage for clonoSEQ is aligned with clinical practice guidelines in covered disease states which support assessing MRD at multiple time points throughout therapy to monitor treatment response and help predict patient outcomes. This expanded coverage policy is effective immediately and continues the positive momentum for clonoSEQ with over 175M lives covered to date.

“Patients with CLL who achieve undetectable MRD have better outcomes than those with detectable MRD,” said Javier Pinilla-Ibarz, M.D., Ph.D., Senior Member and Head of the Lymphoma program in the Department of Malignant Hematology at Moffit Cancer Center. “As newer therapies emerge for CLL that can help patients achieve very deep remissions, assessment of MRD can help guide clinical care by determining a patient’s response to therapy and informing that patient’s prognosis.”

MRD refers to the remaining number of cancer cells that may be present in a patient’s body during and after treatment and that may eventually lead to recurrence of the disease. MRD testing is performed as a series of tests throughout a patient’s cancer journey to monitor for remission, detect relapse, determine response to treatment and inform care. Controlled trials have shown that even the smallest amounts of residual disease significantly predict a patient’s long-term clinical outcomes.

“Data are mounting to support the clinical benefits of MRD measurement in lymphomas and leukemias, including CLL, to help assess a patient’s prognosis, measure response to therapy and inform treatment decisions,” said Lance Baldo, chief medical officer, Adaptive Biotechnologies. “The Medicare coverage expansion validates this growing body of evidence and provides patients living with CLL greater access to highly sensitive, standardized MRD testing.”

clonoSEQ is the only test authorized by the U.S. Food and Drug Administration (FDA) to detect and monitor minimal residual disease in any lymphoid cancer. At the 2019 American Society of Hematology (ASH) Annual Meeting, an unprecedented amount of data was presented demonstrating the clinical significance of MRD in blood cancers and further validating it as one of the strongest predictors of patient outcomes.

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