Suspension of partnered Genentech program slows Adaptive’s first push into therapeutics

Genentech’s unexpected suspension of the lead program in its partnership with Adaptive sets back the immunosequencing company’s first attempt to diversify into therapeutics, halting development of a cell therapy as the partners prepared to submit an IND.

The decision shaved more than $650 million from the market cap of Adaptive Biotechnologies Corp. (NASDAQ:ADPT), as shares fell $4.78 to $53.11 during Tuesday’s session...