Adaptive Biotechnologies falls after announcing convertible, separation of businesses

Adaptive Biotechnologies

15/06/2026 21:41

** Adaptive Biotechnologies'  ADPT.O  shares down 5.5% in
extended trading to $16.50 as co looks to raise capital and
split its businesses
** Seattle, Washington-based ADPT announces private offering of
$250 mln convertible bonds due 2031
    ** Co intends to use some net offering proceeds to repay
OrbiMed purchase agreement, for general purposes and
opportunistic initiatives in the Minimal Residual Disease (MRD)
business
** Alongside the offering, co unveils plan to separate its
MRD and Immune Medicine businesses
    ** "We believe this separation is the best way to unlock the
full potential of both businesses, increasing their impact on
patients and creating long-term value for shareholders," CEO and
co-founder Chad Robins said
    ** ADPT stock closed down 0.8% at $17.46 on Mon. Stock up
7.5% YTD and about 70% over the past 12 months
    ** Co has about $2.8 bln market cap
    ** Avg rating of 8 analysts covering the stock is "buy";
median PT $20.50, per LSEG
     

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))