Adaptive Biotechnologies stock tumbles after first earnings report since IPO

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.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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.
Fuente: CNBC - 🏆 12. / 72 Leer más »

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. They must be disappointed as hell
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

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. Uber I'm a Big Boy. If I couldn't weather the storm, I wouldn't have bought it. BOOM
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »