Adaptive Biotechnologies stock soars

Adaptive Biotechnologies, which debuted on the Nasdaq this past Thursday with a $300 million IPO, more than doubled its stock value by Friday. Shares opened at $20, and by week’s end closed at $48.30.

The company, whose technology hinges on the idea that the immune system carries the answer for both diagnostics and treatments, has two main products: ImmunoSEQ, which is licensed out to researchers to help the genetic data underpinning T- and B-cell receptors, and ClonoSEQ, which is approved by the FDA to detect lingering cancer cells in bone marrow for certain blood cancers. Four payers will now cover ClonoSEQ, the company announced recently.  

The company has partnered with Roche’s Genentech and, interestingly, Microsoft. 

Adaptive was founded in 2009 by two brothers — Chad and Harlan Robins. Speaking with Marketwatch on the outsized IPO, Chad Robins disclosed a rather unique business asset: “My mom has actually been integral in giving perspective and helping to resolve disputes when they come up.”