SEATTLE (AP) — SEATTLE (AP) — Adaptive Biotechnologies Corp. (ADPT) on Thursday reported a loss of $29.9 million in its first quarter.
On a per-share basis, the Seattle-based company said it had a loss of 20 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.
The life-sciences research company posted revenue of $52.4 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $43.2 million.
Adaptive Biotechnologies shares have risen 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.36, more than doubling 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
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