Adaptive Biotechnologies rises after quarterly sales beat

Adaptive Biotechnologies

02/05/2025 17:13

** Medical device maker Adaptive Biotechnologies Corp's ADPT.O shares rise as much as 34.5% to over a year high of $9.9

** Stock is set for its best day since its IPO in 2019, if gains hold

** Late on Thursday, ADPT posted 25% rise in Q1 revenue to $52.44 million, beating analysts' estimates of $42.68 million

** Co reported Q1 net loss of $29.8 million, compared to $47.5 million for the same period in 2024

** Co reported cash, cash equivalents and marketable securities of $232.8 million as of March 31, 2025

** Co expects full year total company cash burn to be between $50 million and $60 million, from the previous range between $60 million and $70 million

** As of last close, ADPT has fallen 62.1% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))