Nektar: 3Q Earnings Snapshot
SAN FRANCISCO (AP) _ Nektar Therapeutics (NKTR) on Wednesday reported a third-quarter loss of $96.1 million, after reporting a profit in the same period a year earlier.
The San Francisco-based company said it had a loss of 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share.
The biopharmaceutical company posted revenue of $27.8 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $24.8 million.
Nektar shares have declined 36 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.95, an increase of 41 percent in the last 12 months.