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ADAPTIVE BIOTECHNOLOGIES CORPORATION

(ADPT)
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Adaptive Biotechnologies Announces Grand Opening of State-of-the-Art Headquarters and Expands Footprint in Seattle

09/21/2021 | 04:06pm EDT

SEATTLE, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, announced today the opening of its new corporate headquarters and laboratory facility located in the heart of South Lake Union – Seattle’s life sciences hub.

“Washington is proud to be home to companies like Adaptive that are changing the future of medicine,” said keynote speaker Gov. Jay Inslee. “Our thriving life sciences community is world-class and will benefit our state and our world for generations. I am glad their new corporate headquarters and lab facility is in the heart of Seattle with an exciting fusion of artificial intelligence, machine learning and biotechnology.”

The new headquarters, located at 1165 Eastlake Ave. East, was developed in close partnership with Alexandria Real Estate Equities, Inc. and Seattle architect Ben de Rubertis of Flad Architects. The 100,086 square foot glass-enclosed state-of-the-art laboratory and office space will make room for Adaptive’s rapidly expanding workforce and laboratory operations. Since the start of the COVID-19 pandemic, Adaptive has nearly doubled its workforce and anticipates continuing its rapid hiring trajectory. The new location contains over 20,000 square feet of laboratory space, which will allow the company to continue applying its immune medicine platform to expand its diagnostic pipeline and drug discovery partnerships.

“This building represents a new chapter for Adaptive. It was built to not just meet our current needs, but also to scale with our business as we continue to grow,” said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. “From sample processing to data analysis, this is truly an end-to-end facility and designed to be a place that inspires our workforce to deliver innovative solutions for our patients and community.”

Adaptive also announced the launch of its corporate social responsibility program with STEM Paths Innovation Network (SPIN) by providing a charitable contribution for SPIN Girls Fellows, a program that prepares 11th and 12th grade girls of color in King County for college and STEM careers with the mission of closing the opportunity gap in STEM education and increasing the number of women of color in STEM fields.

“Adaptive’s commitment to helping to diversify the STEM workforce to be more inclusive of women and people of color aligns with our mission and will not only benefit our students, but the larger Seattle community as well,” said Katherine Barr, director of STEM Paths Innovation Network. “Adaptive has the foresight to see that investing in our youth now will help fill many of the jobs it creates through its world-changing technologies in the near future.”

About Adaptive Biotechnologies
Adaptive Biotechnologies is a commercial-stage biotechnology company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. We believe the adaptive immune system is nature’s most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Our proprietary immune medicine platform reveals and translates the massive genetics of the adaptive immune system with scale, precision and speed to develop products in life sciences research, clinical diagnostics and drug discovery. We have three commercial products and a robust clinical pipeline to diagnose, monitor and enable the treatment of diseases such as cancer, autoimmune conditions and infectious diseases. Our goal is to develop and commercialize immune-driven clinical products tailored to each individual patient.

For more information, please visit adaptivebiotech.com and follow us on www.twitter.com/adaptivebiotech.

ADAPTIVE INVESTORS
Karina Calzadilla, Vice President, Investor Relations
201-396-1687
Carrie Mendivil, Gilmartin Group
investors@adaptivebiotech.com

ADAPTIVE MEDIA
Beth Keshishian
917-912-7195
media@adaptivebiotech.com


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© GlobeNewswire 2021
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Financials (USD)
Sales 2021 153 M - -
Net income 2021 -216 M - -
Net cash 2021 362 M - -
P/E ratio 2021 -22,1x
Yield 2021 -
Capitalization 4 716 M 4 716 M -
EV / Sales 2021 28,5x
EV / Sales 2022 21,8x
Nbr of Employees 622
Free-Float 98,4%
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Number of Analysts 8
Last Close Price 33,50 $
Average target price 56,67 $
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Managers and Directors
Chad Robins Chairman & Chief Executive Officer
Julie Rubinstein President
Chad M. Cohen Chief Financial & Accounting Officer
Harlan Robins Chief Scientific Officer
Lance Baldo Chief Medical Officer
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