Adaptive Biotechnologies (ADPT) shares surged nearly 37% in recent Friday trading, a day after the company reported a narrower loss and higher revenue in Q1.
The company reported a Q1 diluted loss late Thursday of $0.20 per share, narrowing from a loss of $0.33 a year earlier.
Analysts polled by FactSet expected a loss of $0.29.
Revenue for the quarter ended March 31 was $52.4 million, up from $41.9 million a year earlier.
Analysts surveyed by FactSet expected $42.7 million.
The company raised its full-year revenue guidance for the Minimal Residual Disease business to $180 million to $190 million from $175 million to $185 million previously. The company did not provide revenue guidance for its Immune Medicine business.
Analysts surveyed by FactSet expect total revenue of $216 million for the year.
The company also said it now expects full-year total company cash burn at $50 million to $60 million, versus $60 million to $70 million previously.
Price: 10.06, Change: +2.70, Percent Change: +36.71
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