Alector: Q2 Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Thursday reported second-quarter profit of $1.4 million.
On a per-share basis, the South San Francisco, California-based company said it had net income of 2 cents.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.
The biotechnology company posted revenue of $56.2 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $3.6 million.
Alector shares have dropped 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.63, a decrease of 41% 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
