FX.co ★ Adaptive Biotechnologies Q2 Loss Narrows

Adaptive Biotechnologies Corp. (ADPT) announced that its net loss for the second quarter of 2024 reduced to $46.2 million, or $0.31 per share, compared to a net loss of $47.8 million, or $0.33 per share, in the same period the previous year.

The company's revenue for the second quarter stood at $43.2 million, indicating a 12% decline from the same quarter last year. However, revenue from the Minimal Residual Disease (MRD) segment was $35.3 million, marking a 36% increase year-over-year.

Analysts surveyed by Thomson Reuters had forecasted the company to report a loss of $0.33 per share on revenues of $38.66 million for the quarter. It should be noted that analysts' estimates typically do not include special items.

Adaptive Biotechnologies has updated its full-year revenue guidance for the MRD business, now expecting it to range between $140 million and $145 million, up from the previous guidance range of $135 million to $140 million. No revenue outlook has been provided for the Immune Medicine business.