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Adaptive Biotechnologies: Q2 Earnings Snapshot

August 3, 2022 GMT

SEATTLE (AP) _ Adaptive Biotechnologies Corp. (ADPT) on Wednesday reported a loss of $52 million in its second quarter.

On a per-share basis, the Seattle-based company said it had a loss of 37 cents.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The life-sciences research company posted revenue of $43.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $43.3 million.

Adaptive Biotechnologies expects full-year revenue in the range of $185 million to $195 million.

Adaptive Biotechnologies shares have dropped 65% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.89, a drop of 73% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADPT at https://www.zacks.com/ap/ADPT