Adaptive reports plan to separate MRD, immune medicine business

Adaptive Biotechnologies has outlined plans to streamline its operations by separating its Minimal Residual Disease (MRD) and Immune Medicine business segments, according to recent disclosures. The move is part of a broader strategy to focus on core areas of growth and operational efficiency. The company’s leadership emphasized that this reorganization will allow for more targeted development and commercialization of its diagnostic and therapeutic platforms.

The MRD segment, which accounts for the majority of Adaptive’s revenue, reported $212.3 million in revenue for the full year 2025, representing a 46% increase compared to the prior year. clonoSEQ® test volume grew by 39% in 2025, reaching 105,587 tests delivered, with the fourth quarter alone seeing a 43% increase in test volume to 30,038 tests. The segment also achieved profitability, with positive Adjusted EBITDA and cash flow.

The Immune Medicine segment, while contributing $64.6 million in revenue for 2025, saw a 93% increase from the prior year. However, the company has indicated that it will deprioritize initiatives outside of its core focus areas, which include MRD and immune medicine. This strategic shift follows a 12% workforce reduction in early 2025, aimed at aligning resources with high-priority projects.

Adaptive’s financial performance in 2025 reflected a narrowing of losses and improved operational efficiency. The company reported a net loss of $59.5 million for the year, compared to $159.6 million in 2024. Adjusted EBITDA improved to $12.2 million in 2025, compared to a loss of $80.4 million in the prior year. The company also announced $240.2 million in cash and marketable securities as of December 31, 2025.

Looking ahead, Adaptive expects MRD revenue for 2026 to range between $255 million and $265 million, with operating expenses projected between $350 million and $360 million. The company has not provided specific guidance for the Immune Medicine segment, reflecting its strategic refocusing.

The separation of business segments is expected to enhance clarity for investors and stakeholders, aligning with Adaptive’s goal of becoming a more operationally efficient and financially disciplined organization. The company’s leadership has also emphasized the importance of disciplined capital allocation and long-term profitability as key priorities for 2026.