Dafinchi AI

Adaptive Biotechnologies Corporation

ADPT

Healthcare

1w

MRD Business Achieves Profitability and Outperforms Expectations

MRD business delivered approximately $2 million in positive adjusted EBITDA, surpassing expectations.
MRD revenue grew 42% year-over-year to $49.9 million, driven by increased clinical volume.
Test volume increased 37% YoY to over 25,300 tests, with multiple myeloma being the largest contributor at 41%.
Blood-based testing now accounts for 44% of MRD tests, up 40% YoY.
The company integrated clonoSEQ into Flatiron's OncoEMR, expanding access in community settings.
Total sequencing gross margin improved by 14 percentage points to 64%.
Cash burn was approximately $11 million, a 36% improvement YoY, with a cash position of $222 million.
Full-year guidance was raised for MRD revenue to $190-$200 million, with expectations of continued volume growth.
The company expects positive adjusted EBITDA to continue into the second half of the year.

Harmony Biosciences Holdings, Inc.

HRMY

Healthcare

2w

Financial Performance Summary

Cash generated from operations was approximately $79 million in the quarter, with a strong cash position of over $670 million.
Harmony Biosciences reported second quarter 2025 net revenues of $200.5 million, a 16% increase year-over-year from $172.8 million in Q2 2024.
The company extended its 4-year streak of profitability with non-GAAP adjusted net income of $53.8 million or $0.92 per diluted share, compared to $24.5 million or $0.43 per diluted share in the prior year quarter.
The financial results reflect strong underlying demand for WAKIX, offset by a slight reduction in trade inventories heading into summer months.
Total operating expenses for Q2 2025 were $114.2 million, down from $119.3 million in the same quarter last year.

Dynavax Technologies Corporation

DVAX

Healthcare

1w

Financial Performance Summary

Cash, cash equivalents, and marketable securities totaled $614 million at the end of Q2 2025, down from $714 million at the end of 2024, primarily due to completion of a $200 million share repurchase program.
Dynavax reported record Q2 2025 net product revenue for HEPLISAV-B at $92 million, a 31% increase year-over-year.
GAAP net income was $19 million in Q2 2025 compared to $11 million in Q2 2024.
HEPLISAV-B gross margin improved to 85% in Q2 2025 from 83% in Q2 2024, with full-year 2025 gross margin expected around 80%.
Non-GAAP adjusted EBITDA improved to $37 million in Q2 2025 from $20 million in Q2 2024.
R&D expenses increased slightly to $17 million in Q2 2025 from $15 million in Q2 2024, reflecting pipeline progress.
SG&A expenses rose to $50 million in Q2 2025 from $42 million in Q2 2024, mainly due to $13 million in proxy contest-related costs.
Total revenues for Q2 2025 were approximately $95 million, up 29% year-over-year.

Ultragenyx Pharmaceutical Inc.

RARE

Healthcare

1w

Financial Performance Summary

Cash, cash equivalents, and marketable securities totaled $539 million as of June 30, 2025, including $80 million raised through an ATM facility.
Crysvita contributed $120 million in Q2 2025, with $79 million from North America, $35 million from Latin America and Turkey, and $7 million from Europe.
Dojolvi generated $23 million, Evkeeza $15 million, and Mepsevii $8 million in Q2 2025, all showing steady growth.
Net cash used in operations was $108 million for Q2 and $275 million for the first half of 2025.
Net loss for the quarter was $115 million or $1.17 per share.
Total operating expenses were $274 million, including $165 million in R&D, $87 million in SG&A, and $23 million in cost of sales, with $39 million in noncash stock-based compensation.
Ultragenyx reported total revenue of $166 million in Q2 2025, a 13% increase over Q2 2024, and 20% growth for the first half of 2025 compared to the same period in 2024.

Revolution Medicines, Inc.

RVMD

Healthcare

1w

Financial Performance Summary

G&A expenses rose to $40.6 million in Q2 2025 from $21.7 million in Q2 2024 due to increased personnel and commercial preparation activities.
Net loss for Q2 2025 was $247.8 million, up from $133.2 million in Q2 2024, mainly due to higher operating expenses.
R&D expenses increased to $224.1 million in Q2 2025 from $134.9 million in Q2 2024, driven by clinical trial and manufacturing costs, primarily for daraxonrasib.
Revolution Medicines ended Q2 2025 with $2.1 billion in cash and investments, including a $250 million royalty monetization tranche from Royalty Pharma.
The Royalty Pharma transaction was accounted for as a liability, with $900,000 noncash interest expense recognized in Q2 2025.
Updated 2025 GAAP net loss guidance is between $1.03 billion and $1.09 billion, reflecting increased expenses from global development and commercialization plans.

Treace Medical Concepts, Inc.

TMCI

Healthcare

1w

Financial Performance Summary

Adjusted EBITDA loss improved significantly by 58% to $3.6 million from $8.7 million in the prior year quarter.
Cash and equivalents were $69.3 million at quarter end, with total liquidity of approximately $90.7 million including revolver access.
Cash usage decreased by 55% in Q2 and 78% year-to-date compared to 2024, supporting a targeted 50% reduction for full year 2025.
Gross margin slightly decreased to 79.7% from 80.2% in the prior year quarter.
Net loss improved by 18% to $17.4 million or $0.28 per share from $21.2 million or $0.34 per share in Q2 2024.
Operating expenses were reduced by 4% to $54.7 million compared to $57.1 million in Q2 2024 due to expense management initiatives.
Revenue in Q2 2025 was $47.4 million, a 7% increase over Q2 2024, driven by higher bunion procedure kit sales.