Global Blood: 1Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Global Blood Therapeutics Inc. (GBT) on Wednesday reported a loss of $73 million in its first quarter.
The South San Francisco, California-based company said it had a loss of $1.20 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $1.47 per share.
The biopharmaceutical company posted revenue of $14.1 million in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $3.8 million.
Global Blood shares have increased almost 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $81.82, an increase of 45% in the last 12 months.