Fate Therapeutics: 3Q Earnings Snapshot

November 5, 2019 GMT

SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Tuesday reported a loss of $26.6 million in its third quarter.

The San Diego-based company said it had a loss of 40 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.

The clinical-stage biotech company that develops stem cell treatments posted revenue of $2.4 million in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.9 million.

Fate Therapeutics shares have climbed 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.71, an increase of 7% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FATE at https://www.zacks.com/ap/FATE