ALACHUA, Fla. (AP) _ Applied Genetic Technologies Corp. (AGTC) on Thursday reported a loss of $10.5 million in its fiscal fourth quarter.
The Alachua, Florida-based company said it had a loss of 58 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 51 cents per share.
The biotechnology company posted revenue of $406,000 in the period.
For the year, the company reported that its loss narrowed to $2 million, or 11 cents per share. Revenue was reported as $41.7 million.
In the final minutes of trading on Thursday, the company's shares hit $4. A year ago, they were trading at $6.50.