NEW YORK – Adaptive Biotechnologies on Thursday reported a 22 percent increase in Q3 revenues driven by an increase in minimal residual disease testing.

The firm had received notice last year that it was out of compliance with a requirement to maintain a minimum $15 million market value of publicly held shares.

The firm said on Wednesday that it has been hiring key sales and marketing personnel as it prepares to ramp up sales in 2025 of its PreTRM proteomic test.

The whole-exome sequencing and whole-transcriptome sequencing-based test is approved for molecular profiling of solid tumors.

The firm reported that its adjusted diagnostics revenues rose less than 1 percent, excluding the COVID-19 rapid antigen testing business that the firm exited last year.

The company reported on Tuesday that its revenues jumped 8 percent in North America and Europe during the third quarter but fell slightly in the rest of the world.

The firm's Q3 2024 revenues rose 33 percent year over year as both its genomics and data and services revenues increased in the double-digit percent range.

The firm said that demand has increased for its 10-minute sepsis risk test as it can save lives, reduce hospital stays, and reduce healthcare costs.

Fadel Alshalabi, owner and CEO of Crestar Labs, and Samuel Harris, owner of Flojo Recruiting, conspired to bill Medicare and Medicaid for millions of dollars in genetic test orders.

Last week, readers were most interested in a story about the FDA's clearance of Qiagen's QiaStat-Dx Respiratory Panel Mini syndromic multiplex qPCR test.

The firm reported a 13 percent jump in its non-COVID molecular diagnostics revenues year over year while its breast health and GYN Surgical business revenues rose 6 percent.

Out of the 30 companies tracked by 360Dx, 22 saw their share prices decline, seven saw their stock prices increase, and one company’s shares remained essentially flat.