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SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Rigel Pharmaceuticals Inc. (RIGL) on Tuesday reported fourth-quarter net income of $1.4 million.
The South San Francisco, California-based company said it had profit of 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The drug developer posted revenue of $51.3 million in the period.
For the year, the company reported a loss of $58.6 million, or 34 cents per share. Revenue was reported as $120.2 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a RIGL">Zacks stock report on RIGL at https://www.zacks.com/ap/RIGL