Adaptive Biotechnologies Q2 Loss Narrows

August 01, 2024 — 09:56 pm EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Adaptive Biotechnologies Corp. (ADPT) reported that its net loss for the second quarter of 2024 narrowed to $46.2 million or $0.31 per share from $47.8 million or $0.33 per share in the prior year.

Revenue for the second quarter was $43.2 million, representing a 12% decrease from the second quarter in the prior year. MRD revenue was $35.3 million for the quarter, representing a 36% increase from the second quarter in the prior year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.33 per share and revenues of $38.66 million for the second quarter. Analysts' estimates typically exclude special items.

Adaptive Biotechnologies expects full year revenue for the MRD business to be between $140 million and $145 million, updated from the previous range between $135 million and $140 million. No revenue guidance is provided for the Immune Medicine business.

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Adaptive Biotechnologies Q2 Loss Narrows

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