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In a recent 8-K filing with the U.S. Securities and Exchange Commission, Adaptive Biotechnologies Corp (NASDAQ:ADPT) disclosed the outcomes of its annual meeting of shareholders held on June 10, 2025. The company, which has seen its stock surge over 207% in the past year according to InvestingPro data, is currently trading near its 52-week high of $10.87. The meeting addressed three key proposals involving director elections, executive compensation, and the ratification of the company’s independent auditor for the upcoming fiscal year.
Chad Robins was elected to the company’s Board of Directors as a Class III director with an overwhelming majority of 80.95% votes in favor, while 19.05% of votes were withheld or abstained. There were 12,805,961 broker non-votes recorded for this proposal.
The second proposal, a non-binding advisory vote on the compensation of the company’s named executive officers for 2024, received 98.46% support with 1.23% against and 0.31% abstentions. The same number of broker non-votes as the first proposal was reported.
The third proposal saw the ratification of Ernst & Young LLP as the company’s independent registered public accounting firm for the year ending December 31, 2025. This proposal received near-unanimous support with 99.91% voting in favor, 0.08% against, and a negligible 0.01% abstaining. There were no broker non-votes for this proposal.
The company, based in Seattle, Washington, specializes in biological products and operates under the name "03 Life Sciences." With a market capitalization of $1.58 billion and a current ratio of 2.92, InvestingPro analysis shows the company maintains strong liquidity despite operating at a loss. While revenue grew 8.61% over the last twelve months, reaching $189.53 million, analysts don’t expect profitability this year. The detailed description of the proposals and the full results of the voting are available in the company’s definitive proxy statement filed on April 29, 2025.Want deeper insights? InvestingPro subscribers have access to 13 additional ProTips and comprehensive financial analysis for Adaptive Biotechnologies, including detailed Fair Value calculations and expert research reports.
The SEC filing confirmed that the annual meeting was conducted pursuant to notice duly given, with a quorum of shareholders participating by the conclusion of the meeting. The information provided in this article is based on the press release statement from Adaptive Biotechnologies Corp.
In other recent news, Adaptive Biotechnologies Corporation reported robust first-quarter financial results, surpassing analyst expectations. The company recorded a smaller-than-expected loss per share of ($0.20) against the forecasted ($0.29) and achieved revenue of $52.44 million, exceeding the anticipated $42.81 million. This 25% year-over-year revenue growth was driven by a 34% increase in its Minimal Residual Disease (MRD) business. As a result, Adaptive Biotechnologies has raised its full-year MRD revenue guidance to between $180 million and $190 million. BTIG analysts responded positively, raising the company’s stock price target from $10.00 to $11.00, maintaining a Buy rating. Meanwhile, Grindr (NYSE:GRND) Inc. announced the appointment of Chad Cohen as the Chair of its Audit Committee, bringing extensive financial leadership experience from his previous roles. Cohen’s appointment is part of Grindr’s efforts to strengthen its governance and strategic direction. Additionally, Adaptive Biotechnologies’ clonoSEQ test for MRD will be featured in 30 scientific presentations at upcoming medical conferences, underscoring its clinical utility in blood cancers.
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