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SEATTLE - Adaptive Biotechnologies Corporation (NASDAQ:ADPT) reported fourth quarter results that beat analyst expectations on revenue and showed a narrower loss than anticipated, though shares dipped 1.4% in after-hours trading.
The biotechnology company posted revenue of $47.5 million for Q4, up 4% year-over-year and surpassing the consensus estimate of $46.15 million. Adjusted loss per share came in at $0.23, better than the $0.25 loss analysts expected.
Adaptive’s Minimal Residual Disease (MRD) business, which made up 85% of Q4 revenue, grew 31% YoY to $40.1 million. However, Immune Medicine revenue declined 51% to $7.3 million.
"2024 was a year of strong execution, marked by key catalysts achieved in our MRD business and advancements in our Immune Medicine programs," said Chad Robins, CEO and co-founder. "Our MRD revenue grew by 42%, with a 35% increase in clonoSEQ test volume."
For 2025, Adaptive expects MRD business revenue between $175 million and $185 million. The company projects total operating expenses of $340-$350 million and cash burn of $60-$70 million for the year.
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