Fate Therapeutics: 2Q Earnings Snapshot
SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Monday reported a loss of $19.7 million in its second quarter.
The San Diego-based company said it had a loss of 37 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.
The clinical-stage biotech company that develops stem cell treatments posted revenue of $1 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $1.3 million.
Fate Therapeutics shares have risen 66 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $10.17, more than tripling in the last 12 months.