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Adaptive Biotechnologies Corporation
(NASDAQ:ADPT) 

ADPT stock logo

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new progno...

Founded: 2009
IPO Price: $20 (Jun 27, 2019)
Full Time Employees: 453
CEO: Chad Robins  
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 
                                
      revenue
    		70,874,000 71,681,000 93,973,000 58,879,000 52,443,000 47,459,000 46,435,000 43,190,000 41,873,000 45,784,000 37,919,000 48,926,000 37,647,000 55,198,000 47,830,000 43,660,000 38,620,000            
      yoy
    		35.14% 51.04% 102.38% 36.33% 25.24% 3.66% 22.46% -11.72% 11.23% -17.05% -20.72% 12.06% -2.52%                
      qoq
    		-1.13% -23.72% 59.60% 12.27% 10.50% 2.21% 7.51% 3.15% -8.54% 20.74% -22.50% 29.96% -31.80% 15.40% 9.55% 13.05%             
      operating expenses
    		                            
      cost of revenue
    		18,708,000 18,224,000 18,157,000 17,999,000 16,979,000 18,045,000 16,667,000 19,317,000 18,051,000 19,616,000 19,346,000 17,910,000 18,681,000 16,589,000 14,907,000 13,221,000 13,192,000 14,356,000 14,189,000 10,765,000 9,991,000 6,222,000 6,053,000 4,912,000 5,343,000 5,951,000 5,601,000 5,734,000 
      research and development
    		23,623,000 21,763,000 23,669,000 24,134,000 24,203,000 23,192,000 24,163,000 25,353,000 30,245,000 28,746,000 28,533,000 32,237,000 32,601,000 31,222,000 35,658,000 37,037,000 37,839,000 34,699,000 36,072,000 37,800,000 33,772,000 35,831,000 30,314,000 25,992,000 23,935,000 21,189,000 20,506,000 16,527,000 
      sales and marketing
    		26,346,000 24,481,000 23,470,000 23,573,000 23,047,000 21,575,000 20,551,000 20,314,000 22,319,000 21,906,000 20,493,000 23,872,000 22,308,000 23,716,000 21,513,000 24,281,000 26,093,000 26,696,000 24,949,000 23,216,000 20,604,000 18,545,000 14,474,000 14,332,000 14,007,000 12,640,000 9,099,000 8,897,000 
      general and administrative
    		20,984,000 19,557,000 17,959,000 17,786,000 17,399,000 18,056,000 17,258,000 17,895,000 19,597,000 20,726,000 20,075,000 22,302,000 20,831,000 22,428,000 20,755,000 21,200,000 24,144,000 23,346,000 20,154,000 16,066,000 14,936,000 13,398,000 12,079,000 12,238,000 11,821,000 8,189,000 8,477,000 6,662,000 
      amortization of intangible assets
    		419,000 429,000 428,000 423,000 419,000 428,000 428,000 424,000 423,000 429,000 428,000 423,000 419,000 429,000 428,000 423,000 419,000 429,000 428,000 423,000 419,000 428,000 428,000 423,000 424,000 428,000 428,000 423,000 
      total operating expenses
    		90,080,000 84,454,000 83,683,000 83,915,000 82,047,000 81,296,000 79,067,000 90,508,000 90,635,000 116,852,000 88,875,000 96,744,000 94,840,000 94,384,000 93,261,000 96,162,000 101,687,000 99,526,000 95,792,000 88,270,000 79,722,000 74,424,000 63,348,000 57,897,000 55,530,000 48,397,000 44,111,000 38,243,000 
      income from operations
    		-19,206,000 -12,773,000 10,290,000 -25,036,000 -29,604,000 -33,837,000 -32,632,000 -47,318,000 -48,762,000 -71,068,000 -50,956,000 -47,818,000 -57,193,000 -39,186,000 -45,431,000 -52,502,000 -63,067,000 -61,596,000 -56,325,000 -49,765,000 -41,280,000 -44,239,000 -37,049,000 -36,909,000 -34,620,000 -24,188,000 -18,053,000 -16,105,000 
      yoy
    		-35.12% -62.25% -131.53% -47.09% -39.29% -52.39% -35.96% -1.05% -14.74% 81.36% 12.16% -8.92% -9.31% -36.38% -19.34% 5.50% 52.78% 39.23% 52.03% 34.83% 19.24% 82.90% 105.22% 129.18%     
      qoq
    		50.36% -224.13% -141.10% -15.43% -12.51% 3.69% -31.04% -2.96% -31.39% 39.47% 6.56% -16.39% 45.95% -13.75% -13.47% -16.75% 2.39% 9.36% 13.18% 20.55% -6.69% 19.41% 0.38% 6.61% 43.13% 33.98% 12.10%  
      operating margin %
    		-27.10% -17.82% 10.95% -42.52% -56.45% -71.30% -70.27% -109.56% -116.45% -155.22% -134.38% -97.74% -151.92% -70.99% -94.98% -120.25% -163.30% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% 
      interest and other income
    		2,080,000 2,148,000 2,226,000 2,391,000 2,679,000 3,072,000 3,474,000 3,766,000 4,222,000 4,613,000 4,282,000 3,612,000 3,024,000 2,602,000 765,000 418,000 271,000 239,000 327,000 464,000 638,000 785,000 1,018,000 1,893,000 2,894,000 3,577,000 4,103,000 446,000 
      interest expense
    		-2,889,000 -2,954,000 -2,971,000 -2,948,000 -2,905,000 -2,952,000 -2,939,000 -2,696,000 -2,993,000 -3,012,000 -3,652,000 -3,605,000 -3,531,000 -3,585,000 -653,000              
      net income
    		-20,015,000 -13,579,000 9,545,000 -25,593,000 -29,830,000 -33,717,000 -32,097,000 -46,248,000 -47,533,000 -69,467,000 -50,326,000 -47,811,000 -57,700,000 -40,169,000 -45,319,000 -52,084,000 -62,796,000 -61,357,000 -55,998,000 -49,301,000 -40,642,000 -44,570,000 -36,719,000 -33,535,000 -31,403,000 -20,611,000 -13,950,000 -15,659,000 
      yoy
    		-32.90% -59.73% -129.74% -44.66% -37.24% -51.46% -36.22% -3.27% -17.62% 72.94% 11.05% -8.20% -8.12% -34.53% -19.07% 5.64% 54.51% 37.66% 52.50% 47.01% 29.42% 116.24% 163.22% 114.16%     
      qoq
    		47.40% -242.26% -137.30% -14.20% -11.53% 5.05% -30.60% -2.70% -31.57% 38.03% 5.26% -17.14% 43.64% -11.36% -12.99% -17.06% 2.35% 9.57% 13.58% 21.31% -8.81% 21.38% 9.49% 6.79% 52.36% 47.75% -10.91%  
      net income margin %
    		-28.24% -18.94% 10.16% -43.47% -56.88% -71.04% -69.12% -107.08% -113.52% -151.73% -132.72% -97.72% -153.27% -72.77% -94.75% -119.29% -162.60% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% 
      add: net income attributable to noncontrolling interest
    		-18,000                            
      net loss attributable to adaptive biotechnologies corporation
    		-20,033,000   -25,614,000 -29,852,000 -33,692,000 -32,071,000 -46,222,000 -47,507,000 -69,441,000 -50,300,000 -47,810,000 -57,699,000 -40,128,000 -45,281,000 -52,046,000 -62,736,000 -61,433,000 -55,903,000          
      net income per share
    		-0.13 -0.09 0.06 -0.17 -0.2 -0.22 -0.22 -0.31 -0.33 -0.48 -0.35 -0.33 -0.4 -0.28 -0.32 -0.37 -0.44 -0.44 -0.4 -0.35 -0.29 -0.32 -0.27 -0.26 -0.25 -0.04 -0.11 -1.23 
      weighted-average shares used for eps calculation
    		155,521,048 151,721,939  152,082,284 149,195,028 147,101,648 147,516,398 147,414,095 145,787,527 144,383,294 144,704,868 144,397,693 143,511,142 142,515,917 142,928,654 142,363,589 141,697,252 140,354,915 140,833,564 140,359,317 138,967,754 131,216,468 134,372,026 127,383,582 126,058,389 69,165,315 124,285,686 13,279,324 
      impairment of long-lived assets
    		       7,205,000                     
      add: net loss attributable to noncontrolling interest
    		  1,000 -21,000 -22,000 25,000 26,000 26,000 26,000 26,000 26,000 1,000 1,000 41,000 38,000 38,000 60,000 -76,000 95,000          
      net income attributable to adaptive biotechnologies corporation
    		 -11,480,000 9,546,000                          
      weighted-average shares used for eps calculation
    		155,521,048 151,721,939  152,082,284 149,195,028 147,101,648 147,516,398 147,414,095 145,787,527 144,383,294 144,704,868 144,397,693 143,511,142 142,515,917 142,928,654 142,363,589 141,697,252 140,354,915 140,833,564 140,359,317 138,967,754 131,216,468 134,372,026 127,383,582 126,058,389 69,165,315 124,285,686 13,279,324 
      basic
    		  152,432,307                          
      diluted
    		  163,162,107                          
      sequencing revenue
    		                 23,061,000 22,106,000 18,555,000 15,174,000 12,709,000 11,276,000 7,985,000 9,469,000 13,888,000 11,683,000 11,865,000 
      development revenue
    		                 14,869,000 17,361,000 19,950,000 23,268,000 17,476,000 15,023,000 13,003,000 11,441,000 10,321,000 14,375,000 10,273,000 
      total revenue
    		                 37,930,000 39,467,000 38,505,000 38,442,000 30,185,000 26,299,000 20,988,000 20,910,000 24,209,000 26,058,000 22,138,000 
      income tax benefit
    		                     279,000 -688,000 1,481,000 323,000    
      fair value adjustment to series e-1 convertible preferred stock options
    		                           -710,000 
      net loss attributable to common shareholders
    		                     -44,570,000 -36,719,000 -33,535,000 -31,403,000 -20,611,000 -13,950,000 -16,369,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 
                                  
        assets
      		                            
        current assets
      		                            
        cash and cash equivalents
      		77,581,000 70,495,000 55,034,000 43,163,000 50,646,000 47,920,000 38,084,000 59,824,000 71,233,000 65,064,000 88,713,000 109,240,000 94,612,000 90,030,000 217,552,000 76,412,000 114,805,000 139,065,000 122,401,000 184,186,000 173,624,000 123,436,000 497,076,000 365,440,000 212,688,000 96,576,000 74,941,000 48,458,000 
        short-term marketable securities
      		140,753,000 156,485,000 157,735,000 154,710,000 142,778,000 174,374,000 205,245,000 232,056,000 237,639,000 281,337,000 282,419,000 307,990,000 346,083,000 408,166,000 290,527,000 307,326,000 248,757,000 213,996,000 292,639,000 414,227,000 540,640,000 564,833,000 338,004,000 204,940,000 342,485,000 480,290,000 498,487,000 374,543,000 
        accounts receivable
      		48,315,000 50,365,000 44,821,000 44,285,000 43,583,000 41,731,000 40,814,000 35,610,000 42,021,000 37,969,000 31,211,000 31,545,000 30,972,000 40,057,000 26,549,000 23,712,000 22,518,000 17,409,000 17,122,000 14,174,000 19,754,000 10,047,000 11,858,000 7,914,000 9,382,000 12,676,000 9,257,000 7,252,000 
        inventory
      		11,206,000 9,820,000 9,933,000 8,403,000 8,684,000 8,440,000 11,955,000 13,214,000 13,291,000 14,448,000 19,490,000 18,960,000 19,874,000 14,453,000 17,345,000 18,778,000 21,002,000 19,263,000 18,231,000 18,612,000 17,422,000 14,063,000 10,736,000 10,536,000 10,518,000 9,069,000 8,667,000 8,004,000 
        prepaid expenses and other current assets
      		13,952,000 13,020,000 13,912,000 11,295,000 10,798,000 11,287,000 12,247,000 10,848,000 9,850,000 11,370,000 13,404,000 9,074,000 9,792,000 9,440,000 12,407,000 12,347,000 12,038,000 13,015,000 16,634,000 12,530,000 13,520,000 14,535,000 19,684,000 10,691,000 9,573,000 14,079,000 10,004,000 4,044,000 
        total current assets
      		291,807,000 300,185,000 281,435,000 261,856,000 256,489,000 283,752,000 308,345,000 351,552,000 374,034,000 410,188,000 435,237,000 476,809,000 501,333,000 562,146,000 564,380,000 438,575,000 419,120,000 402,748,000 467,027,000 643,729,000 764,960,000 726,914,000 877,358,000 599,521,000 584,646,000 612,690,000 601,356,000 442,301,000 
        long-term assets
      		                            
        property and equipment
      		30,774,000 34,107,000 37,498,000 41,055,000 44,430,000 48,616,000 51,314,000 55,418,000 65,260,000 68,227,000 76,749,000 79,390,000 81,294,000 83,447,000 86,662,000 86,852,000 85,994,000 85,262,000 87,820,000 75,235,000 56,308,000 39,692,000 31,156,000 26,833,000 24,952,000 60,355,000 46,542,000 22,298,000 
        operating lease right-of-use assets
      		40,248,000 40,616,000 41,988,000 43,338,000 44,004,000 45,767,000 46,530,000 48,521,000 50,999,000 52,096,000 75,263,000 77,109,000 78,960,000 80,763,000 82,605,000 84,398,000 85,634,000 87,678,000 89,446,000 92,067,000 88,504,000 99,350,000 37,733,000 37,619,000 31,058,000    
        long-term marketable securities
      		18,889,000 13,234,000 4,037,000 24,100,000 39,355,000 33,660,000 23,866,000        19,698,000 66,928,000 137,110,000 217,145,000 217,379,000 91,131,000 30,688,000 118,525,000 16,466,000 57,383,000 100,618,000 105,435,000 135,306,000  
        restricted cash
      		2,709,000 2,689,000 2,689,000 2,720,000 2,711,000 2,897,000 2,978,000 2,976,000 2,963,000 2,932,000 2,921,000 2,923,000 2,315,000 2,398,000 2,433,000 2,446,000 2,382,000 2,138,000 2,138,000 2,138,000 2,138,000 2,138,000 2,138,000 2,138,000 2,138,000 2,138,000 2,138,000  
        intangible assets
      		1,307,000 1,726,000 2,155,000 2,583,000 3,006,000 3,425,000 3,853,000 4,281,000 4,705,000 5,128,000 5,557,000 5,985,000 6,408,000 6,827,000 7,256,000 7,684,000 8,107,000 8,526,000 8,955,000 9,383,000 9,806,000 10,225,000 10,653,000 11,081,000 11,504,000 11,928,000 12,356,000 12,784,000 
        goodwill
      		118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 118,972,000 
        other assets
      		1,237,000 1,207,000 1,836,000 2,013,000 1,885,000 2,287,000 2,648,000 3,152,000 3,390,000 3,591,000 2,983,000 3,352,000 2,181,000 2,064,000 2,202,000 778,000 874,000 875,000 870,000 719,000 717,000 598,000 997,000 1,275,000 998,000 784,000 722,000  
        total assets
      		505,943,000 512,736,000 490,610,000 496,637,000 510,852,000 539,376,000 558,506,000 584,872,000 620,323,000 661,134,000 717,682,000 764,540,000 791,463,000 856,617,000 884,208,000 806,633,000 858,193,000 923,344,000 992,607,000 1,033,374,000 1,072,093,000 1,116,414,000 1,095,473,000 854,822,000 874,886,000 912,302,000 917,392,000 601,395,000 
        liabilities and shareholders’ equity
      		                            
        current liabilities
      		                            
        accounts payable
      		9,615,000 6,467,000 10,267,000 6,908,000 6,362,000 7,265,000 7,351,000 9,867,000 12,170,000 7,719,000 4,483,000 9,163,000 6,333,000 8,084,000 4,163,000 2,720,000 5,959,000 3,307,000 8,252,000 6,093,000 5,197,000 3,237,000 5,412,000 3,686,000 3,895,000 4,453,000 2,421,000 2,944,000 
        accrued liabilities
      		7,465,000 7,700,000 7,205,000 7,205,000 7,757,000 8,157,000 6,062,000 6,709,000 7,914,000 8,597,000 10,151,000 8,356,000 8,041,000 12,424,000 10,702,000 9,447,000 10,407,000 9,343,000 17,034,000 13,539,000 13,484,000 13,162,000 5,346,000 4,832,000 3,804,000 4,371,000 3,381,000 5,019,000 
        accrued compensation and benefits
      		6,217,000 16,992,000 12,681,000 9,700,000 6,412,000 15,838,000 12,337,000 9,519,000 6,404,000 13,685,000 10,648,000 10,554,000 6,120,000 15,935,000 12,733,000 9,772,000 6,651,000 15,642,000 12,034,000 8,630,000 5,431,000 11,950,000 7,913,000 5,976,000 4,177,000 8,124,000 5,982,000 4,429,000 
        current portion of operating lease liabilities
      		8,513,000 8,920,000 9,442,000 9,957,000 10,462,000 10,239,000 10,021,000 9,806,000 9,594,000 9,384,000 9,482,000 9,345,000 9,287,000 9,230,000 8,528,000 8,615,000 8,545,000 5,055,000 5,108,000 4,833,000 4,308,000 3,529,000       
        current portion of deferred revenue
      		49,397,000 45,194,000 41,337,000 55,301,000 54,805,000 55,689,000 51,856,000 52,225,000 46,870,000 48,630,000 55,340,000 57,917,000 60,320,000 64,115,000 67,892,000 80,914,000 83,504,000 80,460,000 79,954,000 83,553,000 78,348,000 73,319,000       
        current portion of revenue interest liability
      		5,804,000 4,642,000 2,429,000 3,070,000 2,011,000 865,000     3,194,000                  
        total current liabilities
      		87,011,000 89,915,000 83,361,000 92,141,000 87,809,000 98,053,000 87,627,000 88,126,000 82,952,000 88,015,000 93,298,000 95,335,000 90,101,000 109,788,000 104,018,000 111,468,000 115,066,000 113,807,000 122,382,000 116,648,000 106,768,000 105,197,000 100,832,000 93,422,000 77,950,000 78,313,000 73,377,000 74,862,000 
        long-term liabilities
      		                            
        operating lease liabilities, less current portion
      		69,115,000 70,228,000 72,361,000 74,413,000 76,438,000 79,148,000 81,804,000 84,370,000 86,900,000 89,388,000 91,824,000 94,176,000 96,494,000 98,772,000 100,521,000 102,727,000 104,978,000 106,685,000 108,044,000 103,774,000 95,252,000 104,333,000 42,366,000 42,503,000 36,545,000    
        deferred revenue, less current portion
      		807,000 1,006,000 1,206,000 20,032,000 24,814,000 27,256,000 32,781,000 38,844,000 44,160,000 44,793,000 44,194,000 50,895,000 53,908,000 58,599,000 67,300,000 74,122,000 84,894,000 98,750,000 110,638,000 119,642,000 144,356,000 163,618,000 174,853,000 187,462,000 208,828,000 219,332,000 228,339,000 240,919,000 
        revenue interest liability, net, less current portion
      		124,749,000 126,566,000 129,409,000 130,495,000 131,550,000 132,414,000     126,729,000                  
        other long-term liabilities
      		20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000               2,375,000 1,496,000  93,000 44,000  
        total liabilities
      		281,702,000 287,735,000 286,357,000 317,101,000 320,631,000 336,891,000 334,932,000 343,442,000 345,557,000 352,856,000 356,045,000 368,573,000 367,511,000 392,519,000 396,394,000 288,317,000 304,938,000 319,242,000 341,064,000 340,064,000 346,376,000 373,148,000 320,426,000 324,883,000 323,323,000 341,263,000 331,467,000 323,838,000 
        commitments and contingencies
      		                            
        shareholders’ equity
      		                            
        preferred stock: 0.0001 par value...
      		                            
        common stock: 0.0001 par value...
      		16,000 15,000 15,000 15,000 15,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 13,000 12,000 12,000 12,000 12,000 1,000 
        additional paid-in capital
      		1,599,708,000 1,581,848,000 1,553,953,000 1,538,919,000 1,523,950,000 1,506,353,000 1,493,394,000 1,479,832,000 1,466,844,000 1,452,502,000 1,436,859,000 1,421,506,000 1,402,692,000 1,387,349,000 1,372,751,000 1,357,763,000 1,339,601,000 1,324,006,000 1,308,946,000 1,294,506,000 1,277,197,000 1,253,971,000 1,240,649,000 958,097,000 945,026,000 935,834,000 930,208,000 46,160,000 
        accumulated other comprehensive gain
      		-28,000 253,000 211,000 73,000 134,000 166,000 497,000 -182,000 -106,000 215,000        -1,137,000 7,000 216,000 631,000 893,000 1,427,000 2,153,000 3,313,000 671,000 572,000 382,000 
        accumulated deficit
      		-1,383,356,000 -1,363,323,000 -1,349,744,000 -1,359,290,000 -1,333,676,000 -1,303,824,000 -1,270,132,000 -1,238,061,000 -1,191,839,000 -1,144,332,000 -1,074,891,000 -1,024,591,000 -976,781,000 -919,082,000 -878,954,000 -833,673,000 -781,627,000 -718,891,000 -657,458,000 -601,555,000 -552,254,000 -511,612,000 -467,042,000 -430,323,000 -396,788,000 -365,478,000 -344,867,000 -330,917,000 
        total adaptive biotechnologies corporation shareholders’ equity
      		216,340,000 218,793,000 204,435,000 179,717,000 190,423,000 202,709,000 223,773,000 241,603,000 274,913,000 308,399,000 361,732,000 396,036,000 424,020,000 464,165,000 487,840,000 518,304,000 553,205,000 603,992,000 651,509,000 693,181,000 725,588,000        
        noncontrolling interest
      		7,901,000 6,208,000 -182,000 -181,000 -202,000 -224,000 -199,000 -173,000 -147,000 -121,000 -95,000 -69,000 -68,000 -67,000 -26,000 12,000 50,000 110,000 34,000 129,000 129,000        
        total shareholders’ equity
      		224,241,000 225,001,000 204,253,000 179,536,000 190,221,000 202,485,000 223,574,000 241,430,000 274,766,000 308,278,000 361,637,000 395,967,000 423,952,000 464,098,000 487,814,000 518,316,000 553,255,000 604,102,000 651,543,000 693,310,000 725,717,000 743,266,000 775,047,000 529,939,000 551,563,000 571,039,000 585,925,000  
        total liabilities and shareholders’ equity
      		505,943,000 512,736,000 490,610,000 496,637,000 510,852,000 539,376,000 558,506,000 584,872,000 620,323,000 661,134,000 717,682,000 764,540,000 791,463,000 856,617,000 884,208,000 806,633,000 858,193,000 923,344,000 992,607,000 1,033,374,000 1,072,093,000 1,116,414,000 1,095,473,000 854,822,000 874,886,000    
        revenue interest liability
      		      132,700,000 132,082,000 131,545,000 130,660,000  128,167,000 127,008,000 125,360,000 124,555,000              
        accumulated other comprehensive loss
      		          -250,000 -893,000 -1,905,000 -4,116,000 -5,971,000 -5,800,000 -4,783,000            
        current portion of deferred rent
      		                         371,000 324,000 1,276,000 
        deferred rent liability, less current portion
      		                         6,918,000 6,258,000 5,455,000 
        financing obligation
      		                         36,607,000 23,449,000  
        current operating lease liabilities
      		                      3,969,000 3,229,000 1,502,000    
        current deferred revenue
      		                      78,192,000 75,699,000 64,572,000 60,994,000 61,269,000 61,194,000 
        liabilities, convertible preferred stock and shareholders’ equity
      		                            
        convertible preferred stock warrant liability
      		                           2,602,000 
        convertible preferred stock: 0.0001 par value...
      		                           561,931,000 
        total liabilities, convertible preferred stock and shareholders’ equity
      		                         912,302,000 917,392,000  
        restricted cash and other assets
      		                           5,040,000 
        liabilities, convertible preferred stock and shareholders’ deficit
      		                            
        shareholders’ deficit
      		                            
        total shareholders’ deficit
      		                           -284,374,000 
        total liabilities, convertible preferred stock and shareholders’ deficit
      		                           601,395,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 
                                   
          operating activities
        		                           
          net loss
        		-20,015,000 -13,579,000 9,545,000 -25,593,000 -29,830,000 -33,717,000 -32,097,000 -46,248,000 -47,533,000 -69,467,000 -50,326,000 -47,811,000 -57,700,000 -40,169,000 -45,319,000 -52,084,000 -62,796,000 -61,357,000 -55,998,000 -49,301,000 -40,642,000 -44,570,000 -36,719,000 -33,535,000 -31,403,000 -20,611,000 -13,950,000 
          adjustments to reconcile net loss to net cash from operating activities
        		                           
          depreciation expense
        		3,418,000 3,766,000 3,977,000 4,079,000 4,312,000 4,020,000 4,163,000 4,579,000 4,791,000 4,963,000 5,335,000 5,230,000 5,004,000 4,857,000 4,955,000 4,772,000 4,637,000 4,420,000 3,100,000 2,482,000 2,252,000 1,924,000 1,716,000 1,575,000 1,554,000 1,647,000 1,635,000 
          noncash lease expense
        		1,448,000 1,372,000 1,350,000 1,331,000 1,311,000 1,292,000 1,273,000 1,343,000 1,369,000 1,429,000 1,856,000 1,830,000 1,805,000 1,804,000 1,826,000 1,805,000 1,792,000 1,769,000 1,770,000 1,757,000 1,732,000 1,049,000 873,000 713,000 631,000   
          share-based compensation expense
        		11,928,000 12,720,000 13,257,000 13,359,000 12,147,000 12,832,000 13,522,000 12,958,000 14,298,000 15,556,000 15,336,000 17,345,000 14,671,000 14,294,000 14,142,000 14,180,000 12,861,000 11,875,000 11,643,000 11,249,000 8,484,000 7,243,000 6,470,000 6,373,000 4,675,000 3,411,000 3,335,000 
          intangible assets amortization
        		419,000 429,000 428,000 423,000 419,000 428,000 428,000 424,000 423,000 429,000 428,000 423,000 419,000 429,000 428,000 423,000 419,000 429,000 428,000 423,000 419,000 428,000 428,000 423,000 424,000 428,000 428,000 
          investment amortization
        		-136,000 -288,000 -516,000 -750,000 -958,000 -1,458,000 -2,008,000 -2,099,000 -2,643,000 -2,959,000 -2,698,000 -1,918,000 -1,609,000 -1,084,000 411,000 552,000 862,000 1,277,000 1,782,000 2,066,000 2,108,000 1,257,000 167,000 -95,000 -556,000 -930,000 -1,637,000 
          impairment of long-lived assets
        		347,000     0 10,000                     
          write-off of inventory
        		-10,000                           
          revenue interest purchase agreement interest
        		-655,000                           
          other
        		14,000 101,000 434,000 -33,000 76,000 -12,000 -10,000 49,000 114,000 7,000 100,000 60,000 5,000 1,000 -1,000 1,000 -20,000 -69,000 -2,000 2,000 -9,000 9,000 13,000 -65,000 114,000 51,000 -9,000 
          changes in operating assets and liabilities
        		                           
          accounts receivable
        		2,050,000 -5,544,000 -536,000 -702,000 -1,864,000 -899,000 -5,204,000 6,411,000 -4,052,000 -6,766,000 334,000 -621,000 9,085,000 -13,509,000 -2,836,000 -1,194,000 -5,109,000 -287,000 -2,948,000 5,580,000 -9,707,000 1,811,000 -3,944,000 1,468,000 3,278,000 -3,419,000 -1,953,000 
          inventory
        		-1,315,000 -10,000 -1,347,000 95,000 264,000 3,382,000 1,697,000 -818,000 1,111,000 3,977,000 -273,000 65,000 -6,607,000 3,029,000 72,000 -545,000 -1,739,000 -1,032,000 381,000 -1,190,000 -3,359,000 -3,327,000 -200,000 -18,000 -1,449,000 -402,000 -663,000 
          prepaid expenses and other current assets
        		-824,000 799,000 -2,524,000 -497,000 489,000 960,000 -1,399,000 -998,000 1,520,000 2,034,000 -4,330,000 718,000 -352,000 2,950,000 -43,000 -318,000 962,000 3,525,000 -4,234,000 722,000 1,273,000 2,524,000 -8,092,000 680,000 3,526,000 -1,736,000 -5,957,000 
          accounts payable and accrued liabilities
        		-7,512,000 1,165,000 5,896,000 3,269,000 -9,665,000 4,264,000 -59,000 407,000 -3,941,000 5,339,000 -2,808,000 7,940,000 -15,878,000 10,530,000 5,537,000 -1,411,000 -7,545,000 -1,578,000 7,994,000 4,781,000 -7,257,000 7,465,000 1,921,000 2,712,000 -4,603,000 3,018,000 1,817,000 
          operating lease right-of-use assets and liabilities
        		-2,600,000 -2,655,000 -2,567,000 -3,195,000 -2,035,000 -2,967,000 -1,633,000 -2,236,000 -2,549,000 -1,988,000 -2,226,000 -2,239,000 -2,223,000 -1,009,000 -2,326,000 -2,750,000 2,035,000           
          deferred revenue
        		4,004,000 3,657,000 -32,790,000 -4,286,000 -3,326,000 -1,692,000 -6,432,000 39,000 -2,393,000 -6,111,000 -9,278,000 -5,416,000 -8,486,000 -12,478,000 -19,844,000 -13,362,000 -10,812,000 -11,382,000 -12,603,000 -19,509,000 -14,233,000 -16,108,000 -10,116,000 -10,239,000 -6,926,000 -9,282,000 -12,505,000 
          net cash from operating activities
        		-9,537,000 2,055,000 -7,127,000 -12,430,000 -28,484,000 -12,491,000 -27,065,000 -17,303,000 -38,353,000 -26,932,000 -46,684,000 -23,556,000 -59,152,000 -30,019,000 -42,408,000 -47,065,000 -64,453,000 -53,826,000 -43,443,000 -37,213,000 -58,245,000 -39,844,000 -47,156,000 -31,077,000 -31,606,000 -26,791,000 -30,138,000 
          capital expenditures
        		-637,000 -795,000 35,000 -642,000 -1,048,000 1,166,000 -630,000 -2,529,000 -396,000 -1,919,000 -2,761,000 -4,057,000 -1,273,000 -3,442,000 -6,099,000 -4,964,000 -125,000 -16,696,000 -13,553,000 -22,672,000 -8,143,000 -8,273,000 -2,361,000 -1,154,000 -2,336,000 -2,141,000 -4,422,000 
          free cash flows
        		-10,174,000 1,260,000 -7,092,000 -13,072,000 -29,532,000 -11,325,000 -27,695,000 -19,832,000 -38,749,000 -28,851,000 -49,445,000 -27,613,000 -60,425,000 -33,461,000 -48,507,000 -52,029,000 -64,578,000 -70,522,000 -56,996,000 -59,885,000 -66,388,000 -48,117,000 -49,517,000 -32,231,000 -33,942,000 -28,932,000 -34,560,000 
          investing activities
        		                           
          purchases of property and equipment
        		-796,000 -636,000 -409,000 -655,000 -1,259,000 -80,000 -344,000 -1,729,000 -1,511,000 -1,298,000 -2,778,000 -3,697,000 -2,924,000 -2,542,000 -5,432,000 -5,298,000 -3,077,000 -9,245,000 -14,619,000 -22,041,000 -15,841,000 -9,370,000 -4,207,000 -2,263,000 -2,963,000 -2,416,000 -3,430,000 
          purchases of marketable securities
        		-38,863,000 -46,731,000 -33,191,000 -51,138,000 -50,654,000 -44,799,000 -63,259,000 -82,719,000 -53,480,000 -121,995,000 -119,084,000 -99,382,000 -89,097,000 -165,034,000 -28,553,000 -24,956,000 -60,235,000 -78,543,000 -141,649,000 -81,012,000 -15,340,000 -395,179,000 -192,039,000 0 -107,747,000 -112,124,000 -413,422,000 
          proceeds from maturities of marketable securities
        		48,802,000 39,115,000 50,883,000 55,139,000 77,486,000 66,998,000 68,890,000 90,325,000 99,500,000 126,500,000 148,000,000 140,402,000 155,000,000  92,000,000 35,000,000 101,000,000          156,000,000 
          net cash from investing activities
        		9,143,000 -8,252,000 17,283,000 3,346,000 25,573,000 22,119,000 5,287,000 5,877,000 44,509,000 3,207,000 26,138,000 37,323,000 62,979,000 -97,544,000 58,015,000 4,746,000 37,688,000 67,212,000 -21,268,000 41,447,000 93,819,000 -340,049,000 -97,246,000 177,492,000 142,759,000 46,680,000 -260,852,000 
          financing activities
        		                           
          proceeds from exercise of stock options
        		5,025,000 9,134,000 1,684,000 1,610,000 5,451,000 127,000 40,000 30,000 44,000 87,000 17,000 1,469,000 672,000 322,000 829,000 3,990,000 2,749,000 3,278,000 2,926,000 6,328,000 14,185,000 6,253,000 4,199,000 6,337,000 4,959,000 1,748,000 318,000 
          proceeds from capital contributions for digital biotechnologies, inc.
        		2,475,000                           
          cash from financing activities
        		7,500,000                           
          net increase in cash, cash equivalents and restricted cash
        		7,106,000 15,461,000   2,540,000   -11,396,000 6,200,000 -23,638,000 -20,529,000 15,236,000 4,499,000 -127,557,000 141,127,000 -38,329,000 -24,016,000 16,664,000 -61,785,000 10,562,000 50,188,000 -373,640,000 131,636,000 152,752,000 116,112,000 21,635,000  
          cash, cash equivalents and restricted cash at beginning of year
        		73,184,000 0 0 0 50,817,000 0 0 0 67,996,000 0 0 0 92,428,000 0 0 0 141,203,000 0 0 0 125,574,000 0 0 0 98,714,000 0 0 
          cash, cash equivalents and restricted cash at end of period
        		80,290,000  11,840,000 -7,474,000 53,357,000  -21,738,000 -11,396,000 74,196,000  -20,529,000 15,236,000 96,927,000  141,127,000 -38,329,000 117,187,000  -61,785,000 10,562,000 175,762,000  131,636,000 152,752,000 214,826,000  28,560,000 
          noncash investing activities
        		                           
          purchases of equipment included in accounts payable and accrued liabilities
        		159,000 -159,000 444,000 13,000 211,000 1,246,000 -286,000 -800,000 1,115,000 -621,000 17,000 -360,000 1,651,000 -900,000 -667,000 334,000 2,952,000 -7,451,000 1,066,000 -631,000 7,698,000 1,097,000 1,846,000 1,109,000 627,000 275,000 -992,000 
          supplemental disclosure of cash flow information
        		                           
          cash paid for interest
        		3,584,000 4,699,000 2,944,000 2,622,000 2,373,000 2,322,000 2,159,000 2,094,000 2,289,000 1,896,000 2,447,000 1,882,000 2,760,000               
          reconciliation of cash, cash equivalents and restricted cash at end of period
        		                           
          cash and cash equivalents at end of period
        		77,581,000                           
          restricted cash at end of period
        		2,709,000                           
          total cash, cash equivalents and restricted cash at end of period
        		80,290,000                           
          cash, cash equivalents and restricted cash at end of year
        		                           
          inventory reserve
        		  -6,000 55,000 -101,000 492,000 64,000 1,133,000 249,000 456,000 174,000 -323,000 1,080,000               
          noncash interest expense
        		  -1,728,000 4,000 283,000 579,000 617,000 537,000 885,000 737,000 1,756,000 1,159,000 1,648,000               
          net cash from financing activities
        		  1,684,000 1,610,000 5,451,000 127,000 40,000 30,000 44,000 87,000 17,000 1,469,000 672,000 6,000 125,520,000 3,990,000 2,749,000 3,278,000 2,926,000 6,328,000 14,614,000 6,253,000 276,038,000 6,337,000 4,959,000 1,746,000 319,550,000 
          net decrease in cash, cash equivalents and restricted cash
        		     9,755,000                      
          proceeds from revenue interest purchase agreement, net of issuance costs
        		             -316,000              
          impairment of right-of-use and related long-lived assets
        		                           
          proceeds from initial capital contributions for digital biotechnologies, inc.
        		                           
          noncash investing and financing activities
        		                           
          revenue interest purchase agreement issuance costs included in accounts payable and accrued liabilities
        		                           
          research and development inventory reserve
        		             0 -131,000             
          proceeds from sales and maturities of marketable securities
        		                 155,000,000 135,000,000 144,500,000 125,000,000 64,500,000 99,000,000 179,755,000 253,469,000   
          proceeds from public offering of common stock, net of underwriting discounts and commissions
        		                     0      
          payment of public offering costs
        		                     0      
          derecognition of lease financing arrangements upon adoption of guidance on accounting for leases
        		                     0 0 0 36,607,000   
          interest expense
        		                           
          adjustments to reconcile net loss to net cash from operating activities:
        		                           
          fair value adjustment of convertible preferred stock warrant
        		                         0 0 
          changes in operating assets and liabilities:
        		                           
          deferred rent
        		                         706,000 -148,000 
          proceeds from issuance of common stock upon the exercise of a common stock warrant
        		                         0  
          noncash additions to property through lease financing arrangements
        		                           
          conversion of convertible preferred stock to common stock upon closing of initial public offering
        		                         0  
          conversion of convertible preferred stock warrant to common stock warrant upon closing of initial public offering
        		                         0  
          benefit from income tax
        		                      688,000 -1,481,000 -323,000   
          operating lease liabilities
        		                  5,396,000 3,726,000 813,000 -604,000 -361,000 412,000 -333,000   
          proceeds from initial capital contributions for spin technologies, inc.
        		                  0 0 429,000       
          deferred offering costs included in accounts payable and accrued liabilities
        		                           
          landlord-funded leasehold improvements
        		                           
          payment of deferred initial public offering costs
        		                         0 -1,626,000 
          deferred offering costs included in accounts payable and accrued expenses
        		                           
          asset impairment
        		                           
          loss on equipment disposals
        		                           
          proceeds from sales of equipment
        		                           
          purchases of intangible assets
        		                           
          proceeds from issuance of convertible preferred stock, net of issuance costs
        		                           
          proceeds from initial public offering, net of underwriting discounts and commissions
        		                         0  
          gain on equipment disposals
        		                          7,000