Adaptive Biotechnologies Corp Fair Value Disclosure
The following tables set forth the fair values of financial assets as of December 31, 2025 and 2024 that were measured at fair value on a recurring basis (in thousands):
|
|
December 31, 2025 |
|
|||||||||||||
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
||||
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Money market funds |
|
$ |
28,489 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
28,489 |
|
Commercial paper |
|
|
— |
|
|
|
9,932 |
|
|
|
— |
|
|
|
9,932 |
|
U.S. government treasury and agency securities |
|
|
— |
|
|
|
125,605 |
|
|
|
— |
|
|
|
125,605 |
|
Corporate bonds |
|
|
— |
|
|
|
34,182 |
|
|
|
— |
|
|
|
34,182 |
|
Total financial assets |
|
$ |
28,489 |
|
|
$ |
169,719 |
|
|
$ |
— |
|
|
$ |
198,208 |
|
|
|
December 31, 2024 |
|
|||||||||||||
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
||||
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Money market funds |
|
$ |
35,790 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
35,790 |
|
Commercial paper |
|
|
— |
|
|
|
2,479 |
|
|
|
— |
|
|
|
2,479 |
|
U.S. government treasury securities |
|
|
— |
|
|
|
187,181 |
|
|
|
— |
|
|
|
187,181 |
|
Corporate bonds |
|
|
— |
|
|
|
18,374 |
|
|
|
— |
|
|
|
18,374 |
|
Total financial assets |
|
$ |
35,790 |
|
|
$ |
208,034 |
|
|
$ |
— |
|
|
$ |
243,824 |
|
Level 1 securities include highly liquid money market funds, for which we measure the fair value based on quoted prices in active markets for identical assets or liabilities. Level 2 securities consist of U.S. government treasury and agency securities, corporate bonds and commercial paper, and are valued based on recent trades of securities in inactive markets or on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 14, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 26, 2020 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.