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SAN DIEGO (AP) — SAN DIEGO (AP) — Fate Therapeutics Inc. (FATE) on Tuesday reported a loss of $56.4 million in its fourth quarter.
The San Diego-based company said it had a loss of 58 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 86 cents per share.
The clinical-stage biotech company that develops stem cell treatments posted revenue of $44.4 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $19.7 million.
For the year, the company reported that its loss widened to $281.7 million, or $2.91 per share. Revenue was reported as $96.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a FATE">Zacks stock report on FATE at https://www.zacks.com/ap/FATE