Portola Pharmaceuticals: 3Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Portola Pharmaceuticals Inc. (PTLA) on Wednesday reported a loss of $71.3 million in its third quarter.
The South San Francisco, California-based company said it had a loss of $1.08 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.54 per share.
The biopharmaceutical company posted revenue of $14.2 million in the period.
Portola Pharmaceuticals shares have fallen 61 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.06, a drop of 62 percent in the last 12 months.