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Alector: 3Q Earnings Snapshot

·1 min read

SOUTH SAN FRANCISCO, Calif. (AP) _ Alector Inc. (ALEC) on Tuesday reported a loss of $52.7 million in its third quarter.

The South San Francisco, California-based company said it had a loss of 67 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 54 cents per share.

The biotechnology company posted revenue of $5.9 million in the period.

Alector shares have dropped 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.30, a drop of 26% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALEC at https://www.zacks.com/ap/ALEC