Adaptive Biotech: Triples in Value, Beats Expectations

Adaptive Biotechnologies, a Seattle-based company, reported a remarkable turnaround in its financial performance for Q3, with a net income of $9.5 million, a significant improvement from last year's loss. This positive shift surpassed Wall Street's expectations, with earnings per share of $0.06, beating the predicted $0.16 loss per share. The company also exceeded revenue forecasts, posting $94 million, triple the expected $68 million. Adaptive Biotechnologies' shares have nearly tripled since the beginning of the year, indicating sustained investor confidence, and reached $17.59 in the final minutes of trading, showing more than a threefold increase over the past twelve months.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.