Five Prime Therapeutics: 2Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Five Prime Therapeutics Inc. (FPRX) on Wednesday reported a loss of $34.1 million in its second quarter.
The South San Francisco, California-based company said it had a loss of 99 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.25 per share.
The biotech company that develops treatments targeting cancer and autoimmune diseases posted revenue of $7.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $5.9 million.
Five Prime Therapeutics shares have fallen 29 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.47, a fall of 47 percent in the last 12 months.