Adaptive Biotechnologies is a genomic diagnostics company focused on the adaptive immune system. Its core product is clonoSEQ, a next-generation sequencing-based test that detects and monitors minimal residual disease (MRD) — small numbers of cancer cells that may remain after treatment — in patients with blood cancers including multiple myeloma, B-cell ALL, CLL, and certain non-Hodgkin lymphoma subtypes. clonoSEQ sequences unique genetic markers on a patient's cancerous immune cells and tracks those cells over time to monitor disease burden, with sensitivity capable of detecting one cancer cell in one million healthy cells. Adaptive sells clonoSEQ to two customer groups: oncologists and hematologists who use it to inform treatment decisions, and biopharmaceutical companies that incorporate it as a clinical trial endpoint. The clinical testing business bills Medicare and commercial insurers directly, while the pharma business operates on a contract basis with drug developers. Adaptive operates two segments: MRD (the core clonoSEQ business) and Immune Medicine, a smaller data licensing and services business built around a proprietary database of TCR-antigen matches, monetized through licensing to pharma companies for AI/ML model training and drug target discovery. Growth in the MRD business is driven by expanding blood-based testing (less invasive than bone marrow biopsies), penetrating community oncology practices, deepening EMR integrations, and growing pharma trial activity — supported by FDA draft guidance formalizing MRD as a primary endpoint for accelerated approval in multiple myeloma.