SEATTLE (AP) 鈥� SEATTLE (AP) 鈥� Adaptive Biotechnologies Corp. (ADPT) on Tuesday reported a loss of $20 million in its first quarter.
The Seattle-based company said it had a loss of 13 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The life-sciences research company posted revenue of $70.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $61.8 million.
Adaptive Biotechnologies shares have dropped 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $13.80, a rise of 38% in the last 12 months.
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