Immunomedics: Fiscal 4Q Earnings Snapshot
MORRIS PLAINS, N.J. (AP) _ Immunomedics Inc. (IMMU) on Thursday reported a loss of $117 million in its fiscal fourth quarter.
The Morris Plains, New Jersey-based company said it had a loss of 68 cents per share. Losses, adjusted for non-recurring costs, came to 34 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The biopharmaceutical company posted revenue of $386,000 in the period.
For the year, the company reported that its loss widened to $273.8 million, or $1.78 per share. Revenue was reported as $2.2 million.
Immunomedics shares have increased 37 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.09, more than doubling in the last 12 months.