Adaptive Biotechnologies Q3 revenue down 21% to $37.9M; launches strategic review with Goldman Sachs

Adaptive Biotechnologies Corp

2023-Q3 EPS reported -$1.08 revenue$124,492,000

Q3 2023 revenue $37.9M, down 21% YoY; net loss $50.3M vs $45.3M; Adjusted EBITDA loss $29.8M vs $25.9M.
MRD revenue $24.7M (+24% YoY); Immune Medicine revenue $13.3M (-52% YoY); clonoSEQ test volume +56% to 15,072.
Strategic review of MRD and Immune Medicine businesses underway with Goldman Sachs to maximize shareholder value.
Full-year 2023 guidance: MRD revenue $100-105M; total operating expenses ~$375M; Immune Medicine revenue guidance removed.
Discovered novel multiple sclerosis target, validating autoimmune target discovery approach.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Adaptive Biotechnologies Corp reported the quarter ended September 30, 2023 results: revenue $37.9 million, net income $50.3 million. Guidance reaffirmed.

Period: the quarter ended September 30, 2023
Revenue: $37.9 million
Net income: $50.3 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue was $37.9 million for the quarter ended September 30, 2023, representing a 21% decrease from the third quarter in the prior year.

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Source: SEC EDGAR

accession 0000950170-23-062077

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