SEATTLE (AP) — SEATTLE (AP) — Adaptive Biotechnologies Corp. (ADPT) on Tuesday reported a loss of $33.7 million in its fourth quarter.
On a per-share basis, the Seattle-based company said it had a loss of 23 cents.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The life-sciences research company posted revenue of $47.5 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $46.4 million.
For the year, the company reported that its loss narrowed to $159.5 million, or $1.08 per share. Revenue was reported as $179 million.
Adaptive Biotechnologies shares have increased 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.80, a rise of 99% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADPT at https://www.zacks.com/ap/ADPT
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