SEATTLE (AP) _ Adaptive Biotechnologies Corp. (ADPT) on Wednesday reported a loss of $40.6 million in its first quarter.

On a per-share basis, the Seattle-based company said it had a loss of 29 cents.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share.

The life-sciences research company posted revenue of $38.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $28.5 million.

Adaptive Biotechnologies shares have decreased 40% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $35.46, a rise of slightly more than 7% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADPT at https://www.zacks.com/ap/ADPT