Five Prime Therapeutics: 1Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Five Prime Therapeutics Inc. (FPRX) on Thursday reported a loss of $20.1 million in its first quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 57 cents.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 68 cents per share.
The biotech company that develops treatments targeting cancer and autoimmune diseases posted revenue of $8.4 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $6.6 million.
In the final minutes of trading on Thursday, the company’s shares hit $3.89. A year ago, they were trading at $11.18.