Here's Why Adaptive Biotechnologies Rose 31.9% in August
Shares of Adaptive Biotechnologies (NASDAQ: ADPT) rose nearly 32% last month, according to data from S&P Global Market Intelligence. Fresh off its initial public offering, the diagnostic company reported second-quarter and first-half 2019 operating results demonstrating solid year-over-year growth and a shrinking operating loss compared to the first quarter of the year.
During the most recent quarter, Adaptive Biotechnologies increased the number of insurance policies covering its diagnostic tests and opened a high-throughput lab to maximize its collaboration with Microsoft. The business exited June with $423 million in cash, which means it can weather operating losses and still invest in growth opportunities for the foreseeable future.
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Source Fool.com
