- Earnings call transcript Q3 2022

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Operator

Good day, and thank you for standing by. Welcome to the Adaptive Biotechnologies Third Quarter Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Karina Calzadilla. Thank you. ahead. go Please

Karina Calzadilla

reporting and available welcome Felicia, earnings everyone. would The press I call. third for Thank of www.adaptivebiotech.com. quarter to good Adaptive to 'XX. release a issued you today, release XXXX financial Biotechnologies like reports Earlier the is you, press we afternoon, Adaptive at third conference quarter

Investors corporate that call referencing to be are a has posted We been will conducting our live and webcast section to the slide website. of presentation in this a

depending call, regarding the projections as financial other and the During These factors, will of management and forth our of are of future today. perspective company. in business set forward-looking forward-looking make which meaning materially presentation. filings and the of statements federal statements this current reflect statements, SEC performance a with on the future within of the securities the management's laws public may number results differ Actual from today's events

financial discussed metrics can will non-GAAP GAAP in earnings our In be found to call, release. during and reconciliation non-GAAP be addition, measures a of the

are call of Officer. Joining Co-founder; today Peterson,XXXXour Chief the our Financial Robins, and Chad Tycho CEO

Robins, Officer Nitin Head of the call and MRD Robins. In Chief Chad Sood, Chad? for Head addition, will Immune business; that, Co-founder; and be business I'll turn Adaptive of Medicine available Harlan With Scientific Q&A. over to

Chad Robins

thank and on us joining afternoon, our XXXX for Good you earnings quarter Karina. call. everybody, Thanks, third

all big our delivering their to employees thank solid and a another you As always, for Adaptive dedication quarter. for

both positioned finish in and we MRD Immune well are As Medicine. year-end, to we approach strong

and achievements. results. slide three, on corporate achieved Starting key with as milestones important quarter, outlined This we

the agreement financing OrbiMed. position million an flexibility As to with planned, investments. providing strategic three runway attractive This non-dilutive cash $XXX agreement royalty to our while over to strengthened make years cash we with extends our

of in XXXX. us and achieve quarter the adjusted Tycho detail third We his in for finalized $XX.X prior and delivered breakeven growth our go pharma was to MRD in strong In cash EBITDA year. and volumes our growth XXXX had profitability enable going sustainable versus plan will partnerships XX% reaching our further our milestones. growth which partnerships revenue million, prior also solid flow representing long-range MRD of XX%, XX% during to Revenue MRD performance. grew also update, clinical year both business, Clinical testing while pharma remarks. versus excluding significant is

Pharma And in Medicine with growth Immune opportunities. we to execute cell pharma drug programs. drug partnership Our shared versus year on increased and continues our is services Genentech services discovery on XX% therapy trials. private larger business into and prior our as track drove discovery penetration both

to X. our business MRD Slide on Moving

in As volumes continue graph, the shown clinical grow quarter-over-quarter. testing to clonoSEQ

is now XX% pricing grew X% to with delivered respectively. focus, in This X ASP growth across X,XXX grow test payers accounts and XX%, it quarter, with to ordering care $X,XXX all contributor market biggest driver and tests observed digits in versus over our unique And sequentially delivered experienced grew agreements year, and the improve tests. and growth collection our myeloma tests of the business. non-contracted health States, patients Ordering significant providers indications. finalize the marketed we to expect tested of our Multiple United growth grew performance. the mid-single per XX% we In largest as XX% and quarter. the prior annually volume was

lymphoid in shown maintain in to strategy as X. our to testing cancers MRD Our progress, Slide leadership on continues

deeper diagnostic focus account established into on sales These managers serve our expanded our X strategies. distinct customer hematology and X existing managers Key sales key force into First, different institutions. groups, distinct is segments penetrating specialists. groups structured with account

growth Mount MD Stanford, Sinai, including from Anderson, among accounts, the Dana of Farber, came XX% institutional others. quarter, This existing

and adoption driving targets team specialist representing hematology XX%. diagnostic practice currently current Our community accounts

which and testing, was blood-based has is tests is tests. key, growth of of and XXX% the testing the of in In over growth for now blood Blood-based clonoSEQ driver per XX% of it increase run number multiple year-over-year. patient. accounts among clinicians key MRD potential myeloma, all Another both clonoSEQ penetration to

we lymphoma a launching validated In to diffuse beyond. DLBCL are the anticipate expectations, with product addition, previous line ASH. of to XXXX at B-cell and large contribute growth in clonoSEQ we half In second

or last age, DLBCL all coverage which regardless quarter, Medicare As of for treatment a point. reminder, line are therapy, XX% we regimen of Medicare testing patients, time of obtained

focused clonoSEQ Lastly, integration the more of enhancing overall seamless we customer experience, clinical on are into including workflow.

of X. to portfolio ease use As Epic expand for access signed to such, and with MRD Shifting an clonoSEQ. increase our pharma we agreement Slide on

is $XXX From industry-sponsored a clinical assay over sequencing a in cancer acted as pharma used Almost to ongoing cancers. million over biopharma of approvals is from XX potential trials on company clonoSEQ currently an trials or using by are developing XX% their blood studies. being in revenue, eligible major besides partnerships, and Our lymphoid these and secondary of drug receive every clonoSEQ milestones clinical primary based future in endpoint. also drug excess we partners

approximately growth there's have indications XX which recognizing myeloma over to anticipate today, million gold to lymphoma of We MRD especially believe multi years. opportunity replicate other the pharma we We non-Hodgkin's ongoing business. next X development the this for to our $XXX success and is a trials in standard in trials, activity. sight significant half where in drug the active of aim line there ClonoSEQ X we significant from is in milestones

our to X. Immune business Slide on turning Now Medicine

at drive immune areas: on Slide growth our business Immune to various categorize into cell into Zooming in to cell services pharma our We T indications. drug business X discovery. Our services and characterize main medicine leverages Medicine sequence pharma ability X. opportunities receptors and B and scale

This by T cell trials quarter, This existing pharma sequencing grew with bio and and growth more or team in more pharma XX% year-over-year. to services executing incorporate B-cell our driven customers. new receptor is clinical

more than companies. XX studies consists active with portfolio today of XXX Our more than

the We growth expect this continue to in double-digit coming years.

delivers clinical development cell responses, to programs. customers T cell accelerate detect response informs back our customers' ability pharma with to and rich of ability unique Our that the our biomarkers data drug to and B monitor

we indicated have I this X portfolio indications. current clinical that includes than This II Phase therapeutic of more Phase in multiple includes supports portfolio As customers areas. pharma our slide, diversified major Approximately trials on in and a XX% trials.

Discovery in or Our our to is TCR on of into our potentially these X growth our strategy to and discovery shows while grow accounts. programs own. an DCR business. on to phases expand discovery bringing and Slide partnership develop assets either end-to-end in continue III overview Phase therapeutic Drug capabilities leverages drug new

our with cellular therapies on in programs to Genentech Our partnered pipeline private and today advance oncology. focuses shared

an pipeline also in we've built building are several by last We that discovery our competencies early-stage years. the adaptive investing core drug during

true scale. and our approaches, us TCR antibody a our the Specifically, and gives value antibodies true ability to unique at TCRs discovery therapeutic-grade discovery AB characterize unprecedented identify of and

year our drug versus at to progress prior product to of Genentech sure quarter, not and shared XX% program discovery amortization grew phone where investments This our and I'm [Technical is on increased This reflects due dropped. drug up pick the upfront. Difficulty] accelerated going private discovery. both to R&D due I'm

This our progress discovery private is drug reflects both accelerated of Genentech to R&D on and due versus increased shared amortization grew quarter, programs and product due This upfront. prior year our investments with XX% to Genentech.

deliver are T to to that Genentech and and discovery receptor on Genentech X track additional candidate for we cell are cell this TCR In year, by year-end These addition safety. packages. complete neoantigen-specific the that assets data X allows selected TCR identify receptors our therapeutic derisked of end-to-end to first T established characterized the us fully are result true process to that TCR grade

are excellent We progress on also our private product making program.

completed cell mutations. for to We initial patient-specific each identify proof unique receptors patient's have tumor of concept T

product early updates months product workflows Genentech. is the dedicated appropriate. in team development the of We are transition our while South implementing development The lab, next necessary prototype the to we with phase further provide research the in San working our product coming as team personalized towards state-of-the-art on from Francisco will regulated to specifications

future Immune over for to update. Genentech by the pass excited financial opportunities Tycho way. are now our it We discovery from programs Medicine on I'll our and drug

Tycho Peterson

Thanks, Chad.

Turning from grew a from Medicine revenue from and XX% a year. approximately last $XX.X million year quarter XX. of a growth, driving $X.X XX% MRD clonoSEQ to partnerships pharma $XX third MRD starting representing ago results, This XX% of the XX% revenue and growth with in was million XX% our respectively. with increase period from regulatory XX% clinical Immune offset MRD with the Slide in by testing on milestones. decrease the same partially Total and MRD, revenue financial million was

year. quarter-over-quarter. tests increased in milestones these will MRD our we XX% X,XXX from test and our to While X,XXX within period ClonoSEQ are control the same last not continue from vary including international, volume, anticipate to partnerships,

million $XX.X Genentech $XX.X were representing to compared This operating continue was $XX.X increase, decreased as year $XX.X to revenue to $X.X up a from to in efforts costs Immune facility from XX. to XX% million in a a $XX.X drug $XX.X million million $XX.X our a partially ago, $X.X $XX.X and This last a driven drive million was expenses decrease million, $XX.X XX% driven by was change material partially to largely growth year pharma a increase decrease This leverage. building T-Detect. X% T-Detect academic partially driven strong million decrease offset Sales year to Genentech. a compared R&D expect and administrative expenses $XX.X We operating year costs year-end. million depreciation. to increase investments offset increase expenses Shifting a a was $X.X to mainly by volumes. COVID. X%. expenditures and revenue of were million ago. and by million Medicine to from by higher and million, through year, a costs, primarily expenses discovery compared ago, and operating offset X% compared were lower year by decrease related representing General was ongoing marketing cost last well increased and million quarter. were Total a from of as decrease, due Slide prior million a versus $XX.X Cost due ago, guidance X% by X% to due an on sample partially overhead personnel from labor higher and decrease representing representing a the representing million

financing last $XXX,XXX. was expense loss OrbiMed with million $XX from was to $XX.X compared million the year. a interest royalty quarter agreement Net Lastly, for

year guidance. full to turning Now

$XXX from our $XXX to be related the our in are at our timing to and in the revenue XX% million to change guidance contribution million now as We We $XXX range to versus shift anticipated. MRD XX% from $XXX a XX-XX milestones. approximately Medicine million. The from pharma response anticipated previously businesses narrowing is to Immune expect from million to MRD midpoint

This million. expect below full $XXX to a to we prior our of of from reflects the to ongoing now expenses, efforts year our million efficiencies compared operating $XXX number be For drive million $XXX areas. expectations to

We rate further our expect aim to burn be reduce million next quarterly fourth quarter it to below in year. and $XX the

the related Our to OrbiMed is with million and $XXX position with equivalents, strong, and more OrbiMed. we shows Slide details ended quarter in million XX roughly cash capital from deal our including the agreement. $XXX

Chad reaching million. to This additional mentioned, into non-dilutive profitability. financing As care growth flexibility have balance our us provides leading a royalty up strong support OrbiMed, health profile a cash entered to to while adds pleased already are $XXX investor with our for sheet we and with agreement to

Turning to XX. Slide on long-term guidance

capital business areas, the allocating our prudently long-range support growth latest behind have our extensively returns. profile higher plan Medicine, restructuring Immune to to on around with and worked X projects we investing and ensure we our that Following are MRD

from lower positive slide, expected are much expenses XX% the pace, revenues to we XXXX, CAGR at grow at to our to a adjusted while see estimate can a to through EBITDA XXXX. you in grow leading operating As XX%

model addition, flow ability to gives this In in operating us cash reach the XXXX. breakeven

capital strong not profitability we anticipate these additional need given the cash to Importantly, targets. position, our achieve raise do to

Our performance strong. outlook our and is solid, is

we So With to to positioned are growth over path Chad. we a deliver with that, back believe profitability. to well I'll clear sustainable it hand

Chad Robins

Tycho. Thanks, Okay.

open listed catalysts and turn we our to questions. Immune are have delivering up balance support growth. MRD Slide sheet outlined for on we like Both and to businesses promises. achieve momentum the today, great back on Medicine strong the to respective it over and XX, I'd a have our future operator As to

Operator

Piper Thank Instructions] of first question of from line comes Westenberg The You. the David Sandler. [Operator

David Westenberg

here. for taking the questions Hi. Thanks

I'm here So with DBCL ramp. to the adoption start going

with Pandemic had about for well. and are fact really, in given ramp, you I hit that of thinking you momentum disagree think XXXX. what we you the kind DLBCL did really clone So characterization, good adoption slowed sorry, this and really

with the to that the can momentum in got particularly a right... half going ride DPCL critical this the say, this is of mass, and believe I and Do is you business. you think little one think myeloma clonoSEQ first you be faster ramp bit multiple in have that the of in had than that year first all, you you

Chad Robins

David, to it's it myeloma, low over penetrated in and specifically ALL X to are marketed we I'll then CLL. address I'll make our and Chad. pass comment, in indications still very Nitin

So indications. it new there's ramp of to significant on I ramp. over comment hand of launch Nitin think existing a I'll And again, the with to our DLBCL, timing and specifically

Nitin Sood

Yes. And a on quarter. XX% to going build just forward, us what key multiple for grew myeloma, I quarter-over-quarter is growth said, want driver Chad this which

will At a we this X% the drive multiple assay. myeloma. myoma growth So X.X%, in launch lot Talking forward about ASH room XXXX. DLBCL. we're to still going at in into CLIA-validated There's year, of multiple sort December, for penetration DLBCL of specifically

to to use current and the for educate physicians DLBCL than growth asset in takes care it standard than to DLBCL as to show half of have imaging it this imaging. The blood-based time MRD monitoring, that expect on earlier has the we second recurrence specificity data contribute higher takes in XXXX us We testing. of of imaging-based

half strong the see we think we'll growth. I So to second continue education, where position as fundamentals the XXXX and are the is the foundation of

David Westenberg

any continuation really be educated And of T cell cancer. cells believe of in are with is in on could kind Got used a or and maybe this count fact pretty that T I I cells B ask kind it. this mean the your cell-mediated and might B theoretically, I that. physicians

question. Medicare -- So can base this ordered of maybe some turning being of maybe get I how off coverage, it actually already label? And of ask many this just would that how much as I'm additional completely is on ASP off with be some and you

Chad Robins

volume NCL includes outside Around sort includes our This of indications. ordering DLBCL. This XX% our is other indications. of main and CTCL,

on greater But uptick So of DLBCL. we component which DLBCL - see expand the DLBCL we'll test. treated, see, obviously, community, the we'll is into as get think that where paid is we'll of I

In addition, ASP indications to for contribute and we well. reimbursement overall they'll will continue as for other MCLCTCL to increasing these file our like

Tycho Peterson

on clinical DLBCL, if adoption make just to why another see, are to also market myeloma, the half start And on residual MRD also MRD incredibly look you as necessity the really the awareness. XXXX. right kind was non-Hodgkin's the it's we've monitor second do business therapies in hit pharma conservative disease synergistic that's number David at business It's drive again, what That's particularly multiple I going in clinical to these seen trials now and noting, going the comment. as of in you'll worth being of lymphoma, new of in the

David Westenberg

to if for And squeeze I'm in too not It. Got I'm more here, X being just Tycho going great here.

in cost there? Is -- additional of particularly detect. remaining -- around restructuring removed? Immune around there to the that SG&A? in already -- mentioned Is lot know XXXX. you've going And business, You those specifically done some cuts or R&D key this in stuff been Or into of has mostly be are been I costs -- terms a primarily Medicine

Tycho Peterson

estate our of and it's I'd our we for guidance, are we a 'XX compute the cost we'll at thoughtful workflow list looking as R&D driving consolidation. give kind as all with more through be costs. of invest R&D to the the enhancements, publicly, up a a high-level made opportunities a and how guidance. in an we're and costs as But other I of more about last little went in say sequencing dollars. is things. part We've a process, we think give Obviously, getting leverage company them stuff the angle we'll some to there, them. about leverage. we've without here are when leveraging costs. lot is, about specifically G&A more some have fourth out efficient Illumina quarter, give mean projects yes, But And long-range well. of map And decision official there's talked of drive the cloud there communicate of down Yes, real process came equation which bit triage talked as on had we you margin. we I planning that commentary a to of some we'll getting and T-Detect some yes, revenue

David Westenberg

it. Appreciate Thank you, guys.

Operator

next The Savant of ahead. from Please question comes go Tejas Morgan Stanley.

Unidentified Analyst

Good morning, for guys. is This Tejas. Eon [ph]

the Just live envision the wanted EMR on to into 'XX? of touch with partnership base impact volumes their on once you it will system goes Epic. us integration was wondering I in like how your integration

Chad Robins

I'll let Sure. that well. as you Nitin, cover

Nitin Sood

up and months. expect and and a started with We've accounts bigger half about second considerable impact accounts And that completed to sort running drive XXXX barrier be accounts use then have pilot the the of on volumes Yes. to the we expect in of Epic Epic order X think deeper the XXXX. of the for have we in in integration within that work adoption anticipating standardize much overall, we're the way sort penetration that And accounts to in XXXX. and We And impact already of with initiated first, in this accounts. X will have. newer quality the is, reduce we more in

We're on to XXXX. So expect announce updates pretty and underway, about this overall, excited more we're we in this.

Unidentified Analyst

has side, sample to noticed here? collection Are few being due separately you shortages. deliveries trial past the trends seeing also space, and noted on the months slowed seeing Got I it. you've similar and talked over -- if order staffing down I'm changed biopharma trend clinical this the And then wondering and peers I was on change staffing in about spikes issues, past. has the in hospital also this curious, I've

Chad Robins

Nitin. ahead, Go

Nitin Sood

mean and sort well variability some there I our good any continue both pretty business it say looks grow good in various events, impact. of pretty our would seeing will but a I Yes. related in above Yes. of think business were not I start here pharma XX% significant that QX. to say We XXXX. as we're to as see would we to clinical off I feeling And robustly

Unidentified Analyst

you. Great. Thank

Operator

from call next Chen Chase. comes Julia go JPMorgan Our Please of ahead.

Unidentified Analyst

my Thank Julia. Martha you for for This question. is in taking

wanted the you giving type at early, it's you that factors and bit some - any numbers. but regarding headwinds upcoming a can tailwinds, to color I you too us XXXX with or of share indicators specific So could share now out

Chad Robins

about going until really to Yes. guide. a operating to did going want leverage. prepared think We're drive lot comments, to ready in officially we're we're I I say XXXX to -- don't we mention continue my to

So mean that's I call we mean is flag. in you else an ongoing I laid dynamics And focus. profitability, the market. you on anything to a the end today. out obviously, would add just touched past MRD there terms of for market end know. hospital you don't want I on that

Nitin Sood

of again, Yes. sort that space all fact and space well I XX%. -- And accounts low. The think combined as are I'd with been the It quarter. as clinical of XX%. leading highlight looking The the both is strong. this so quarters. -- mean few in that of to has indicators in like last year-over-year unique grew grew I number penetration diagnostic pharma patients tested that number just and the the And the our the HCPs in fact

specific said, Nico we look QX. positive, XXXX. think And feel we'll provide nicely the will indicators guidance do all we in I and as leading very in

Chad Robins

business, our And Sharon, particularly Genentech? Medicine Immune couple a comments on can of you make

Sharon Benzeno

private year again, the shared look in achieved With Absolutely. closing do fronts, next terms of mentioned, and and Chad progress QX what on this year. we in into great to growth we're out significant both making both same And Genentech, as products. the

good Medicine with our to well As and across in pharma in as and indications it clinical opportunities beyond relates XXXX later-stage Immune to similarly, expect trajectory trials significant penetrate we services, to multiple growth the assay. relevance

Chad Robins

to quarter take thing add guide will wait view the I'll conservative pharma again, going fourth just more around we with officially One from a financial call, milestones. the the MRD we're perspective, but to

think try of the the in course. to of the quarter. for go narrowing move reliance quarter-to-quarter, You on range fourth And can derisk those. forward, saw we're kind as I to around we of going Those the that

area ahead that's be a So guidance official lagged one conservative. where of we'll bit little more

Unidentified Analyst

And That's other is... very the question helpful.

Chad Robins

Go ahead.

question? additional an there was Sorry,

Tycho Peterson

go one? do next want the to to Operator, you

Operator

Please The Sure. DerIk ahead. go from line next of of comes from Bank America. Brian question the

Chad Robins

the Operator, you if question, to next it be to want go would great.

Operator

of from of comes The Sachs. the ahead. Please go next Salveen Richter question Goldman line

Unidentified Analyst

antibody This status Hey, efforts speak our therapeutics Had differentiators? Salveen. taking are What discovery Elizabeth the you key And can to question. for of and discovery efforts currently? on is on a for the drug those guys. the question Thanks adaptive area. specifically

Chad Robins

you to take want Sharon, that? Sure. do

Sharon Benzeno

Absolutely.

capabilities several neutralizing years areas which pursuing need a target discovery really able us validated our happen quote antibodies, allow us may areas where like the discover against So able receptors. that of for of to similar with and the autoimmune sheer disorders. we to are to we you which identify those and cell antibody be capabilities Genentech we've technologies and to potent portfolio T have discover naturally that The ultra additional the Genentech we for efforts the on differentiate our discovery, at many built in that against scale traffic that we're TCR with past characterize be the is and to, to unmet amongst same platform focus and antibodies. occurring alluded applies are to unique They

Unidentified Analyst

we And program? Got from can or the milestone catalyst when expect that it. next

Sharon Benzeno

-- we existing strategy So are is monetize on our assets. to our

-- identified variants mentioned, several today. neutralizing of given are of I antibodies antibodies of relevant the the that because them As some we still portfolio -- have we've that of some exist

unique a core both. down future our discovery partnership for is strategy is where own. assets in perhaps partnering our those Jen But heads as really make elaborating, on either the mentioned, own in can our the antibody differentiator or advancing potential for really in pipeline So on interim,

Unidentified Analyst

the for Got it. color. Thanks

Operator

Please comes question with Bank De from Bruin America. ahead. next Our of Derik go

Unidentified Analyst

for afternoon. Derik. good on you John This hear is Hi, Can me?

Chad Robins

Yes. We can you. hear

Unidentified Analyst

muted. double mute I other one. forgot Apologies. All was right. Yes. to I the

might PTLD, down when along is that benefit frame And sort data a on there thank on time work In with the decide plan. become from you positive? road of your X-year for of that, the you any might long-term terms commercial

the like just any the by if if just could profitability puts less burn cash in I X at looking to less you could spend you're there? positivity squeeze XX%, and target more but flow by wondering Just cash, XX% obviously profit looking your there. And and -- takes and provide

you're in assuming be how COVID was long-term the range. contribution how instance, If discovery future you Or might much you're that Apologies them from like like and same contributions what talked wondering I coming sort on. contribution should for be the the about assuming perhaps from of minimal line, therapeutics? for given financial ring you've target T-Detect in COVID and quarters. that

Chad Robins

a Sharon, you strategic line Yes. profitability cover I'll have some then and on on some syndrome Thanks, direction. we're post-treatment future there. flow and years bringing then cash puts moving comments I'll how and of then kind Tycho, have takes John, you and the overall make the disease I'll of cover lot in

start? do to you want So

Sharon Benzeno

Absolutely.

made, over line because archingly partners. of up assessment we strategy have the the have individuals sort in LDS, opportunities goal with that enrolled wrapping that line. and as cohort may we different of are The So the of there pharma in is in our with we we that completes investment the with previously point of settings time last

of the number modalities. therapeutics know, may there a are vaccine, other there now, but both As out you

setting. PCLD going And in be we're including leverage so that to to the opportunistic data,

Tycho Peterson

a The try kind revenue guidance, to CAGR. there, XX% on to long-term out is goal XX% the laid the to as drive slide we've of OpEx On it's leverage.

to on give we're OrbiMed certainly to obviously, behind expect payments cash kind don't flow want the period. we're what's or same do working the we low components flow the plan. comp capital. plan, single-digit positivity long-term -- in more long-range and don't of in difference breakeven royalty growth the excluding of stock cash then about over going XXXX include OpEx talking to the is EBITDA kind We the One nuance partners revenue get Over because deals that know that color projections. that and into I lot a on

think kind say I at this all that's So we'll point. of

Chad Robins

comment moving targets. last I'll is immune cells prioritizing and capabilities, our of and partnerships -- to the And immune or kind to several And unique of years therapeutic then kind receptors, which a our opportunities targets of business both over T of set make to a either and to Yes. ourselves from just respect built with leverage we doing antibodies strategy, capabilities more find an medicine we're against the kind into those standpoint what area. into investment is in those identify

kind leverage that's about that first few for but I'll capabilities. of what things quite So on Genentech is Obviously, working a we're behind set the say catalysts, that, now. that of those

Tycho Peterson

particular. And just not of to in kind and long-term made We pause revenues round last it to out, T-Detect. assume from online the guidance decision does that quarter

there's side. So T-Detect long-term on nothing really the for outlook on the diagnostic

Unidentified Analyst

Got you. And if I could ask on the DLBCL as well.

work with physician additional trial access to the on there helpful any of trying them, obviously here, and of clinical sponsors. doing? if it what the pharma sort the educate you channels or finding are And for better conversations worse having for front are in sponsors, to you're you're steady? has held physicians increase trying You're getting the in you're or Any

Chad Robins

take want you do that? Nitin, to

Nitin Sood

over question region-dependent, access Yes. improved improving just is has understand growth quite if physician think and multiple regions, shifted I virtually. driving I sort the certain mean to bit. correctly, permanently in other just physicians full I general It's a but overall, And meetings. in of on meeting In ways. we're regions, -- in-person also have it's

and into to then going community integration going is lot to DLBCL the lot. expanding help is a Epic think help a I

of So think lot a I catalysts there's for growth going forward.

Unidentified Analyst

the color. you. Appreciate Thank

Operator

thank participation in program. today's all, call. for Okay. you that your conclude If This [Operator the Instructions] is does

disconnect. you. Thank now may You

Karina Calzadilla	Head, IR
Chad Robins	Co-Founder, CEO
Tycho Peterson	CFO
Harlan Robins	Chief Scientific Officer
Nitin Sood	Head of MRD
Sharon Benzeno	Head, Immune Medicine
David Westenberg	Piper Sandler

Adaptive Biotechnologies (ADPT) 4 Nov 222022 Q3 Earnings call transcript