> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Adaptive Asked Medicare's Contractor For A Five-Test Myeloma Maintenance Bundle, CEO Says - URL: https://www.bullished.co/adaptive-asked-medicares-contractor-for-a-five-test-myeloma-maintenance-bundle-ceo-says-2f7e7228/ - Published: 2026-11-04T22:39:18.000Z - Updated: 2026-11-04T22:39:18.000Z - Description: CEO Chad Robins said a $1,700 to $1,800 per-test price goal looks reachable, in some cases sooner, though he gave no guarantees on timing. - Author: Matteo Parrino - Tags: Earnings, ADPT, Industry: Healthcare [Adaptive Biotechnologies](https://www.bullished.co/tag/adpt/) has asked Medicare's contractor MolDX to cover an additional bundle of five tests during maintenance treatment of multiple myeloma, CEO Chad Robins said on the company's third-quarter earnings call Wednesday. "This is the first time I've said that," Robins told analysts, as the company [reported](https://www.globenewswire.com/news-release/2026/11/04/3395832/0/en/adaptive-biotechnologies-reports-third-quarter-2026-financial-results.html?ref=bullished.co) its first profitable quarter at the total-company level. ## A bundle request, with caveats Adaptive, which reads the genetic code of immune cells to build diagnostics and research products, sells clonoSEQ, a test that measures leftover cancer cells in blood cancers. Robins described three phases of a myeloma patient's care. Medicare already pays for four tests in active treatment, the maintenance bundle is now with MolDX, and data for recurrence monitoring is expected in the second half of the year. Robins called the talks "very, very positive" and said he believes "it's not a matter of if, it's a matter of when." He added a caution: "we can't guarantee the number of tests in the bundle. We can't guarantee timing." He tied the request to new NCCN guideline language and to a new definition of cure in myeloma, presented on behalf of the International Myeloma Working Group. That definition describes five years off treatment with at least four negative MRD (residual cancer cell) assessments. ## Price goal versus a $1,380 average Robins said U.S. average selling price was $1,380 in the third quarter, up 3% from a year earlier and relatively flat from the prior quarter. Medicare's current rate covers up to four tests over a patient's lifetime, and as more patients are tested beyond that, realized price comes under pressure. Medicare and Medicare Advantage now make up about 45% of Adaptive's payer mix, up from 39% a year ago. The company still expects about $1,400 for the full year. Asked by a Piper Sandler analyst whether that needs specific coverage timing, CFO Kyle Piskel said timing dependencies "could move the needle in either direction," and that he remains confident in reaching $1,400 "at some point." Robins said the longer-term goal of $1,700 to $1,800 could be accelerated "in some cases." ## A CMS rate dispute and a raised outlook Piskel said Adaptive determined early this year that it was not an applicable laboratory under the PAMA Medicare pricing law and submitted no private-payer data. He said CMS's preliminary rate for the clonoSEQ code rests on erroneous data, and he expects that to be fixed before final rates go live, as he understands it, sometime in November. The quarter itself was strong. Revenue was [$83.9 million](https://www.globenewswire.com/news-release/2026/11/04/3395832/0/en/adaptive-biotechnologies-reports-third-quarter-2026-financial-results.html?ref=bullished.co), up 39% from a year earlier, and GAAP net income was $2.8 million, though Piskel said the company does not expect GAAP net income for the fourth quarter or full year. Adaptive raised its 2026 MRD revenue guidance to $276 million to $286 million from $268 million to $278 million. Clinical testing volume grew 46%, with nearly 40,000 clonoSEQ tests delivered. Adaptive's market value was $4.1 billion on Wednesday, and the company said it will announce a path forward on separating its Immune Medicine business by year end. Learn - [How To Read An Earnings Call Transcript: Start With Guidance, Then Find What's Missing →](https://www.bullished.co/learn/how-to-read-an-earnings-call/) How to read an earnings call transcript: check guidance first, look for dropped metrics, compare growth with last quarter, and watch hedged wording. ### Sources - [Adaptive Biotechnologies: Q3 Earnings Snapshot | wfaa.com](https://www.wfaa.com/article/syndication/associatedpress/adaptive-biotechnologies-q3-earnings-snapshot/616-599257dd-4eaf-46a8-9c11-7dcc54a2dbd1?ref=bullished.co) — Associated Press - [Adaptive Biotechnologies GAAP EPS of $0.02 beats by $0.11 | Seeking Alpha](https://seekingalpha.com/news/4665622-adaptive-biotechnologies-gaap-eps-of-002-beats-by-011-revenue-of-839m-beats-by-123m?ref=bullished.co) — seekingalpha.com - [Adaptive Biotechnologies to Report Third Quarter 2026 Financial Results on November 4, 2026 – Company Announcement - FT.com](https://markets.ft.com/data/announce/full?dockey=1330-9844812en-0TL74J2KR16VPLJ0DLHC5DHLHP&ref=bullished.co) — Financial Times - [Adaptive Biotechnologies Reports Third Quarter 2026](https://www.globenewswire.com/news-release/2026/11/04/3395832/0/en/adaptive-biotechnologies-reports-third-quarter-2026-financial-results.html?ref=bullished.co) — globenewswire.com ### More on Adaptive Biotechnologies - [Adaptive Biotechnologies Says CEO's Brother May Take A Role In Immune Medicine After Separation](https://www.bullished.co/adaptive-biotechnologies-says-ceos-brother-may-take-a-role-in-immune-medicine-after-b1577078/) [All Adaptive Biotechnologies (ADPT) coverage →](https://www.bullished.co/tag/adpt/)