CAMBRIDGE, Mass. (AP) _ AVEO Pharmaceuticals Inc. (AVEO) on Monday reported a fourth-quarter loss of $4.5 million, after reporting a profit in the same period a year earlier.
The Cambridge, Massachusetts-based company said it had a loss of 28 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.
The cancer drug company posted revenue of $764,000 in the period.
For the year, the company reported net income of $9.4 million, or 61 cents per share, swinging to a profit in the period. Revenue was reported as $28.8 million.
In the final minutes of trading on Monday, the company's shares hit $3.03. A year ago, they were trading at $5.96.