Adaptive Biotechnologies CEO on the company's IPO and pipeline
A life sciences company whose business combines drug research with modern technologies is part of the IPO slate of this week.
The IPO Terms
Adaptive Biotechnologies is planning to offer 12.5 million shares in an IPO to be priced between $15 and $17, according an amended filing dated June 19.
At the mid-point of the estimated price range, the size of the offering is $200 million.
The company's shares have been approved for listing on the Nasdaq under the ticker symbol ADPT.
The company has opted to comply with certain reduced disclosure norms, given its status as an "emerging growth company."
Goldman Sachs, J.P.
Morgan, BofA Merrill Lynch, Cowen, Guggenheim Securities, William Blair and BTIG are the underwriters for the offering.
Adaptive Biotechnologies, founded in 2009, focuses on developing immune-driven medicines by harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease.
Its immune medicine platform reads genetic code of a patient's immune system, with the information incorporated into its clinical immunomics database.
This when combined with computational biology and machine learning is used to develop and commercialize clinical products and services.
Thus far, it has characterized over 20 billion immune receptors, established partnerships and commercial relationships with over 125 biopharmaceutical companies and launched two product lines.
Adaptive Technologies reported 45% year-over-year revenue growth to $55.66 million in 2018.
Revenues for the three-month period ended March 2019 were at $12.67 million.
The net loss for 2018 widened from $42.70 million to $46.35 million.
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