NGM Biopharmaceuticals: Q1 Earnings Snapshot
By AP News
Published - May 04, 2023, 05:34 PM ET
Last Updated - Jun 21, 2023, 10:36 PM EDT
SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — NGM Biopharmaceuticals Inc. (NGM) on Thursday reported a loss of $47.6 million in its first quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 58 cents.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 52 cents per share.
The biotechnology company posted revenue of $2.2 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $6.9 million.
