Adaptive Biotechnologies Corporation · NASDAQ:ADPT
Adaptive Biotechnologies — J.P. Morgan Healthcare Conference 2024
23 slides from Adaptive Biotechnologies's conference presentation, 2024
Slide 1: J.P. Morgan Healthcare Conference 2024: Advancing MRD and IM
J.P. Morgan Healthcare Conference 2024 Advancing MRD and IM
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: Gold standard in hematology MRD and immune receptor discovery
Gold standard in hematology MRD and immune receptor discovery Strategic Review: maximizing value for patients, employees and shareholders Process Outcome Rationale & Diligence Timeline MRD & IM: two compelling Working with outside On track to communicate businesses with key advisors outcome by e
Slide 4: MRD
MRD A commercial stage diagnostics business
Slide 5: clonoSEQ is the gold standard in hematology MRD
clonoSEQ® is the gold standard in hematology MRD Clinical Volumes Payer Coverage1 Guideline Clinical & Coverage >50% Evidence 300M Covered lives today from CAGR 2020-2023 80M in 2020 Strong IP Most Sensitive Assay Pharma Studies Total Unique Patients3 >160 Pharma FDA Cleared >51K Use 75 studies usin
Slide 6: clonoSEQ captures the synergistic value of clinical diagnostics and pharma
clonoSEQ captures the synergistic value of clinical diagnostics and pharma Pharma supports lifecycle expansion which drives clinical use Clinical testing Pharma trials Monitor response to Accelerate drug treatment via development and serial quantification of Clinical usage drives commercialization b
Slide 7: Significant opportunity in clinical testing ahead in current indications
Significant opportunity in clinical testing ahead in current indications MM driving short to US clonoSEQ penetration by indications1 medium-term 30% growth, followed by 26% newer indications: CLL and NHL 20% 21% 18% 13% 8% 11% 6% 1.4% 2.4% 4.0% 5 yr. prevalence used for ALL & DLBC; 10 yr. prevalen
Slide 8: Significant room for expansion in our pharma business
Significant room for expansion in our pharma business clonoSEQ use in pharma clinical trials Focus on expanding presence in NHL and CLL trials Potential tail-wind: 55% FDA acceptance of MRD 40% as a primary clinical 25% endpoint in trials 15% 18% 18% 13% 6% 2023 2025 2023 2025 2023 2025 2023 2025 MM
Slide 9: Key priorities to grow the business while reaching profitability
Key priorities to grow the business while reaching profitability Key Priorities Strategies Increase testing Expand into newer Expand patient Integrate testing in blood indications use cases workflows Increase Penetration Ongoing evidence generation/studies Coverage expansion Production lab OPEX leve
Slide 10: Mounting evidence on MRD clinical & research utility presented at ASH 2023
Mounting evidence on MRD clinical & research utility presented at ASH 2023 41 Abstracts accepted 30 Poster presentations 11 Oral presentations 13 Pharma presentations 10 © Copyright Adaptive Biotechnologies 2024. Confidential.
Slide 11: MRD status in blood predicts PFS in MM early in treatment
MRD status in blood predicts PFS in MM early in treatment ATLAS (University of Chicago) “We’re encouraged to see the results of MRD testing with clonoSEQ in peripheral blood, which suggest that it is a prognostically significant assessment early in treatment.” Ben Derman, MD, Assistant Professor of
Slide 12: Exploring the role of MRD in informing management in MCL
Exploring the role of MRD in informing management in MCL PFS by PB MRD Status Post Consolidation Wisconsin Oncology Network Study “The prognostic power of MRD has been well-substantiated, and now, a growing set of evidence supports the use of MRD to adapt approaches to therapy, with potentially mean
Slide 13: Growing our foothold in NHL
Growing our foothold in NHL Target key milestones to accelerate our expansion in the largest lymphoid market DLBCL MCL CTCL DLBCL enhanced assay Active MCL pharma trials Enhanced T-cell assay available for pharma + prospecting in progress (TCRBG) in development FDA submission in 2024 Medic
Slide 14: Relentless focus on improving margins
Relentless focus on improving margins Increasing clonoSEQ ASP OPEX leverage 1 Reduce out-of-policy claims 1 Production lab efficiencies 2 Reduce non-contracted claims 2 Commercial economies of scale 3 Optimize revenue cycle management 3 G&A optimization 14 © Copyright Adaptive Biotechnologies 2024.
Slide 15: Financial outlook and path to profitability for MRD business
Financial outlook and path to profitability for MRD business Path to profitability/cashflow breakeven Est 3 yrs. P&L progression (illustrative) ($M) 1 1 Revenue CAGR from 2023-2027 to be 25-30% 2 $300 Revenue Opex* 2 Adj EBITDA1 positive 2H 2025 $100 3 CF 3 Cash Flow Breakeven 1H 2026 $0 2023 2024 2
Slide 16: Immune Medicine (IM)
Immune Medicine (IM) An immune-driven drug discovery business
Slide 17: We are the gold standard in immune receptor discovery
We are the gold standard in immune receptor discovery Full TCR functionally Patient repertoires matched to an HLA sequenced presented antigen ~500K >100K Vs <40,000 available worldwide From Cancer & Autoimmune Engine to learn from Strong IP and owned data (AI/ML) patent portfolio 245+ Comp Bio TCR:
Slide 18: Advancing transformative therapies in cancer and autoimmunity
Advancing transformative therapies in cancer and autoimmunity Solving for TCR-antigen discovery and mapping Cancer cell Antigen presenting cell Cancer HLA class I HLA class II Autoimmunity Antigen Antigen Platform used to Platform used to generate library of TCR TCR identify antigens and TCRs that b
Slide 19: GNE partnership: advancing into the clinic with the 1st product candidate
GNE partnership: advancing into the clinic with the 1st product candidate Identifying optimal TCR candidates in two product categories Shared Individual Tumor neoantigens Developing neoantigens Patient tumor neoantigen candidates neoantigen-directed sequencing T-cell therapies Shared Product Persona
Slide 20: Advancing in autoimmune with 1st novel target in Multiple Sclerosis (MS)
Advancing in autoimmune with 1st novel target in Multiple Sclerosis (MS) Why focus on MS? What did we find? What is next? Current treatments Identified specific TCRs In 2024: validate target have limited efficacy that are shared and using in vitro and in vivo and significant side clustered in MS
Slide 21: IM is well-positioned to deliver on key priorities in the next couple of years
IM is well-positioned to deliver on key priorities in the next couple of years Support GNE’s development of cancer cell therapy products Designate therapeutic candidate (MS) and enter the clinic Scale target discovery in additional autoimmune indications (T1D, RA) Gate R&D investments on cat
Slide 22: Key Takeaways
Key Takeaways MRD IM Gold standard MRD test in blood cancers Leaders in immune receptor discovery and characterization Clear execution path to drive clinical volume growth and improve margins Expected to enter the clinic with 1st cell therapy product candidate in oncology Clear line of sig
Slide 23: Thank You.
Thank You.
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