Five Prime Therapeutics: 2Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Five Prime Therapeutics Inc. (FPRX) on Wednesday reported a loss of $34.4 million in its second quarter.
The South San Francisco, California-based company said it had a loss of 99 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 86 cents per share.
The biotech company that develops treatments targeting cancer and autoimmune diseases posted revenue of $3.3 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $5.5 million.
Five Prime Therapeutics shares have dropped 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.25, a decrease of 66% in the last 12 months.