Adaptive Biotechnologies shares fell by more than 7% in after-hours trading Tuesday after the biotech company posted a wider-than-expected loss in its first earnings report since going public.
shares fell by more than 7% in after-hours trading Tuesday after the biotech company posted a wider-than-expected loss in its first earnings report since going public.
The company posted a loss of $1.23 a share, down from a loss of $1.01 a year earlier. Revenue came in at $22.1 million, up 91% increase from a year earlier and higher than the $19.3 million Wall Street analysts were expecting. "We are making important progress across on key catalysts that will enable near-term product applications across our life sciences research, clinical diagnostics, and drug discovery businesses, unlocking one of the largest global addressable markets in healthcare," Adaptive Biotechnologies CEO Chad Robins said in a statement.
Adaptive, which is developing what it calls an "immune medicine platform" to treat various diseases, went public on the Nasdaq on June 27. Adaptive Biotechnologies closed up more than 100% at $40.30 a share on its first trading day, making it at the time in the top five IPO debuts of the year.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
The charts are pointing to a rally for Cisco on earnings, says traderCisco is reporting earnings Wednesday, and one trader says the stock's about to bounce back.
Consulte Mais informação »
Tilray spikes more than 8% ahead of its second-quarter earningsTilray's stock has tumbled nearly 80% from the all-time highs it reached a few months after its IPO in 2018.
Consulte Mais informação »
Uber's stock just hit a new record low after last week's disastrous earnings reportShares plummeted last following a quarterly report that fell short of investor expectations last week. The sell-off continued through Monday.
Consulte Mais informação »
The Results Speak For Themselves at Orangetheory FitnessThese before-and-afters might be the push you need to try orangetheory.
Consulte Mais informação »
Restaurant Chains Are Rushing To Put The ‘Fast’ Back In Fast FoodThe recent round of quarterly earnings reports shows that most quick-service chains are pouring money and resources into speeding up the drive-thru.
Consulte Mais informação »