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NEW YORK – Adaptive Biotechnologies reported after the close of the market on Wednesday that its fourth quarter revenues increased 41 percent year over year.

For the three months ended Dec. 31, 2019, the Seattle-based immune sequencing firm tallied revenues of $24.2 million compared to $17.2 million a year ago, and well above analysts' average estimate of $21.7 million.

Fourth quarter sequencing revenue increased 33 percent to $13.9 million from $10.5 million, while development revenue grew 53 percent to $24.2 million from $17.2 million a year ago.

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