Adaptive Biotechnologies in strategic review

 

• Strategic review underway with Goldman Sachs to maximize the value of the MRD and Immune Medicine businesses.
• Revenue for the third quarter 2023 was $37.9 million, representing a 21% decrease from the third quarter 2022 driven primarily by a 61% reduction in GNE amortization and a 14% decrease in MRD pharma services and IM pharma services largely due to biopharmaceutical industry headwinds.
• clonoSEQ test volume in the third quarter 2023 grew 56% to 15,072 tests delivered versus the third quarter of prior year.
• Immune Medicine achieved a key milestone with the discovery of a novel target in multiple sclerosis, which validates our target discovery approach in autoimmune disorders.
• Operating expenses, excluding cost of revenue, for the third quarter 2023 decreased 11% versus the same period last year as a result of continued operating efficiencies efforts.

https://www.globenewswire.com/news-release/2023/11/09/2777819/0/en/Adaptive-Biotechnologies-Reports-Third-Quarter-2023-Financial-Results-and-Provides-Business-Update.html