Adaptive Biotechnologies Corporation (NASDAQ: ADPT) has announced that it will release its Q4 and full-year 2021 financial results on February 15, 2022, after market close.
Adaptive anticipates FY 2021 revenue of $153 to $154 million
Recently the company released interim, unaudited revenue results for fiscal 2021 ending December 31, 2021. The company reported that it expects revenue of between $153 million and $154 million, representing around 56% at the midpoint relative to revenue of $98.4 million in FY2020.
CEO Chad Robins said, “The Adaptive team delivered strong results in 2021, setting the stage to accelerate our immune medicine and MRD business areas. Our goal is to transform the genetics of the adaptive immune system into novel diagnostics and therapeutics. We are in a strong position and poised for sustainable future growth.”
Following the submission of Adaptive Biotechnologies’ Annual Report on Form 10-K for fiscal 2021, Chad Cohen, chief financial officer, will leave his position, effective on or around February 15, 2022. Kyle Piskel, the company’s principal accounting officer, will act as interim CFO following Mr. Cohen’s departure. A search for the next permanent CFO has commenced, and the company wants someone with skills and qualifications to expedite the development and commercialization of its products.
Harnessing the adaptive immune system’s inherent biology can transform diagnosis
The commercial-stage biotech firm focuses on harnessing the inherent biology of the adaptive immune system in transforming disease diagnosis and treatment. The company feels that the adaptive immune system is the most naturally fine-tuned therapeutic and diagnostic system for various illnesses, but the medical community’s failure to decode it has stopped it from being properly utilized.
Adaptive Biotechnology’s revolutionary immune medicines platform unveils and encodes the enormous genomics of the adaptive immune system in clinical diagnostics, life science studies, and drug development with scale, accuracy, and efficiency. Currently, the company has three commercial products and a strong clinical pipeline for diagnosing, monitoring, and treating diseases like autoimmune disorders, cancers, and infectious diseases. In addition, adaptive Biotechnology seeks to create and market immune-driven clinical treatments that are personalized for each patient.