Adaptive Biotechnologies Clocks 26% Jump In Q4 Revenues

Adaptive Biotechnologies Corp ADPT reported Q4 sales of $37.9 million, +26% Y/Y, beating the estimate of $36.37 million.

• "As we move into 2022, I am encouraged by the momentum and the multiple shots on goal across our businesses, which could positively inflect the trajectory of the company," said Chad Robins, Co-founder, and CEO.
• Q4 sequencing revenue increased 81% to $23.1 million from $12.7 million, while development revenue dropped 15% to $14.9 million.
• Adaptive said that clinical testing volume for its ClonoSeq sequencing assay for the minimal residual disease increased 41% to 6,356 tests in the quarter, from 4,539 tests.
• Net loss per share grew to $(0.43) from $(0.33) a year ago, and beating the consensus of $(0.45).
• Adaptive finished the year with $570.2 million in cash and equivalents.
• The company received FDA Emergency Use Authorization for T-Detect COVID to confirm recent or prior COVID-19 infection with over 30,000 tests ordered.
• Price Action: ADPT shares traded 1.09% higher at $14.85 on the last check Wednesday.