SAN DIEGO – SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Thursday reported a loss of $7.4 million in its fourth quarter.
The San Diego-based company said it had a loss of 26 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.
The clinical-stage biotech company that develops stem cell treatments posted revenue of $1.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $582,000.
For the year, the company reported that its loss widened to $30 million, or $1.18 per share. Revenue was reported as $2.4 million.
In the final minutes of trading on Thursday, the company’s shares hit $1.83. A year ago, they were trading at $5.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FATE at http://www.zacks.com/ap/FATE
Keywords: Fate Therapeutics, Earnings Report