FREMONT, Calif. (AP) _ Asterias Biotherapeutics Inc. (AST) on Tuesday reported a loss of $9.3 million in its fourth quarter.
On a per-share basis, the Fremont, California-based company said it had a loss of 20 cents. Losses, adjusted for non-recurring costs, were 18 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The stem cell therapy developer posted revenue of $1.8 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $2.8 million.
For the year, the company reported that its loss widened to $35.5 million, or 83 cents per share. Revenue was reported as $7 million.
In the final minutes of trading on Tuesday, the company's shares hit $3.55. A year ago, they were trading at $4.67.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AST at https://www.zacks.com/ap/AST
Keywords: Asterias Biotherapeutics, Earnings Report