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Mar 31, 2020
Adaptive Biotechnologies Q1 2020 Earnings Report
Adaptive Biotechnologies reported financial results for the quarter ended March 31, 2020.
Key Takeaways
Adaptive Biotechnologies reported a 65% increase in revenue compared to the first quarter of the prior year, with revenue reaching $20.9 million. The company's net loss was $31.4 million for the quarter.
Revenue increased by 65% year-over-year to $20.9 million.
Clinical tests for clonoSEQ increased 75% compared to Q1 2019.
Partnership with Microsoft was extended to decode the immune response to COVID-19.
A strategic partnership with Amgen was announced to discover and develop therapeutic antibodies for COVID-19.
Forward Guidance
Adaptive Biotechnologies withdrew its previously announced annual revenue guidance for 2020 due to the uncertainty of the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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