Adaptive Biotechnologies Corporation · NASDAQ:ADPT
Adaptive Biotechnologies — Q1 2022 Earnings Presentation
19 slides from Adaptive Biotechnologies's earnings presentation, 2022
Slide 1: First Quarter 2022 Earnings Conference Call
First Quarter 2022 Earnings Conference Call
Slide 2: Safe Harbor
Safe Harbor This presentation has been prepared by Adaptive Biotechnologies Corporation (“we,” “us,” “our,” “Adaptive” or the “Company”) and is made for informational purposes only. The information set forth herein does not purport to be complete or to contain all relevant information. Statements co
Slide 3: Business areas of focus: MRD and Immune Medicine
Business areas of focus: MRD and Immune Medicine Executed strategic and workforce reorganization around two key Business Areas MRD Immune Medicine Highly sensitive NGS-based assessment of minimal residual Clinical diagnostics, drug discovery and research disease for use in clinical practice and drug
Slide 4: Q1 2022 Key Highlights
Q1 2022 Key Highlights MRD Business ◼ Significant clonoSEQ test volume growth of 45% vs prior year ◼ Sales force hiring and training completed ◼ NCCN updated ALL guideline includes NGS MRD at additional timepoints ◼ Signed expanded pan-portfolio agreement in MM and CLL with pharma partner Q1’ 22 Rev
Slide 5: MRD Business: clonoSEQ clinical testing
MRD Business: clonoSEQ clinical testing Growth experienced across the board… Strategy to cement leadership in lymphoid cancers… ◼ Q1’22 test delivered volume +45% vs P/Y; +12% vs P/Q Three priority areas for investment ❑ ~320 ordering accounts in Q1 (+36% vs P/Y) ◼ HCP education & adoption: field fo
Slide 6: New Data for clonoSEQ in Pediatric ALL Patients Receiving CAR-T
New Data for clonoSEQ in Pediatric ALL Patients Receiving CAR-T Longitudinal follow-up from multi-center ENSIGN and ELIANA trials, n=143 clonoSEQ Performance in Blood Performance in Marrow clonoSEQ detected MRD disease in blood that flow missed in marrow • clonoSEQ detected MRD in clonoSEQ in blood
Slide 7: MRD Business: pharma portfolio
MRD Business: pharma portfolio clonoSEQ MRD, gold standard in drug trials, growing use as an endpoint Portfolio Overview Clinical Endpoint Primary (4) Exploratory Analysis ◼ >60 companies, 168 active clinical trials 7% ◼ 5 Recent FDA drug approvals containing 57 clonoSEQ data, including: Active ❑ Bl
Slide 8: Immune Medicine
Immune Medicine Platform synergies will drive growth opportunities and generate revenue Immune Medicine Platform 3 Growth Areas Revenue Contribution (Illustrative) Multiple shots on goal to create value, grow and monetize our immune medicine platform across clinical applications Today Long-term T ce
Slide 9: Immune Medicine business revenue performance
Immune Medicine business revenue performance Pharma • 100% growth vs Q1 2021 • 100+ companies in portfolio; ~400 prospects • 4 active T-MAP deals (COVID, RSV) ↑ T-Detect ↑ Drug ↑ Pharma $21M $20M Discovery T-Detect • Continue to offer T-Detect COVID to consumers • On track to make Lyme available dur
Slide 10: T-Detect platform — near term strategic priorities and status
T-Detect platform — near term strategic priorities and status Infectious diseases (COVID, Lyme) Autoimmune / inflammatory To be pursued opportunistically Focus of T-Detect, given alignment with technology, high unmet need, spend, and biopharma interest COVID Lyme GI Neuro ▪ Continue offering to cons
Slide 11: Q1 2022 Key Financial Highlights
Q1 2022 Key Financial Highlights Prior Revenue Reporting New Revenue Reporting Revenue ($M) Revenue ($M) $38.4 $38.6 +0.5% $38.6 $38.4 +0.5% Sequencing Immune Medicine 15.2 +42% MRD Development 21.6 20.1 20.8 +4% 1 23.3 2 -27% 3 4 17.0 18.3 17.8 -3% Q1 2021 Q1 2022 Q1 2021 Q1 2022 1 Includes $7.0M i
Slide 12: Q1 2022 Key Financial Highlights Cont.
Q1 2022 Key Financial Highlights Cont. Operating Expenses ($M) Strong Balance Sheet ◼ ~$501M in cash, cash equivalents and marketable securities as of 03/31/2022 $101.7 ◼ No debt $79.7 +28% FY 2022 Guidance ◼ Reiterate FY revenue range $185M-$195M ❑ MRD and Immune Medicine revenue represents ~50% /
Slide 13: Key Catalysts 2022 – Multiple levers to drive value
Key Catalysts 2022 – Multiple levers to drive value ◼ T-Detect COVID: Enhance product profile (correlate of protection) ◼ T-Detect Lyme: T-Detect Lyme available through CLIA in 2H ◼ T-Detect AI: Increase sensitivity/specificity in IBD, MS for market readiness Immune ◼ Genentech collaboration: Medici
Slide 14: Thank You.
Thank You.
Slide 15: Appendix: clonoSEQ Pipeline
Appendix: clonoSEQ Pipeline 15
Slide 16: Appendix: Drug Discovery Pipeline
Appendix: Drug Discovery Pipeline 16
Slide 17: Appendix: T-Detect Pipeline
Appendix: T-Detect Pipeline 17
Slide 18: Revenue sources included within Sequencing/Development vs MRD/Immune Medicine
Revenue sources included within Sequencing/Development vs MRD/Immune Medicine Included in Sequencing & Development Included in MRD & Immune Medicine Sequencing Rev MRD Rev clonoSEQ clinical testing* clonoSEQ clinical testing* Clinical Service Rev T-Detect clonoSEQ MRD Pharma (sequence) immunoSEQ - A
Slide 19: Historical revenue bridge by quarter vs prior reporting
Historical revenue bridge by quarter vs prior reporting Three Months Ended March 31, June 30, September 30, December 31, 2020 2020 2020 2020 Immune Medicine revenue Sequencing revenue $ 3,170 $ 2,036 $ 3,691 $ 3,310 Development revenue 11,077 12,856 12,438 17,155 Total Immune Medicine revenue 14,247
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