Five Prime Therapeutics: 3Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Five Prime Therapeutics Inc. (FPRX) on Tuesday reported a loss of $47.2 million in its third quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of $1.37.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.17 per share.
The biotech company that develops treatments targeting cancer and autoimmune diseases posted revenue of $5.8 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $7.5 million.
Five Prime Therapeutics shares have decreased 45 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.11, a decrease of 72 percent in the last 12 months.