Adaptive Bio leaps on reorganization plans, workforce reduction

Adaptive Biotechnologies

09/03/2022 16:01

** Shares of biotech co  ADPT.O  jump 11.6% to $13.06 in
their first session of gains this month
    ** ADPT to reorganize into two new business units, reduces
workforce by about 12%  urn:newsml:reuters.com:*:nGNX9rK8H1
    ** Co says it will deprioritize projects which no longer
align with goals of new business units named Minimal Residual
Disease and Immune Medicine 
    ** Also appoints Tycho Peterson as new chief financial
officer
    ** According to a regulatory filing, ADPT had 858 full-time
employees as of Dec. 31, 2021 (https://bit.ly/3tIIPa3)
 
    ** Up to Tuesday's close, ADPT was down ~57% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))