BTIG Maintains a Buy Rating on Adaptive Biotechnologies (ADPT)

​Firstly, Adaptive announced an upsized convertible notes offering of $300 million, up from the primitively planned $250 million. Secondly, the institution besides revealed its plans to abstracted its MRD and immune medicine businesses. BTIG views some moves positively arsenic it has agelong considered the immune medicine portion non-core, and believes spinning it disconnected volition assistance unlock greater worth successful the halfway MRD business.

​The steadfast noted that portion the shares of Adaptive dipped somewhat owed to method nuances astir the convertible notes offering, BTIG wasn't concerned. In fact, the firm, aft talking with management, came backmost reassured that some announcements bespeak a presumption of strength, with beardown momentum crossed each MRD applications.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) is progressive successful the improvement of an immune medicine platform, with its services and products including immunoSEQ, clonoSEQ, cellular therapy, and vaccines.

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