BOULDER, Colo. (AP) _ Clovis Oncology Inc. (CLVS) on Tuesday reported a loss of $99.3 million in its first quarter.
On a per-share basis, the Boulder, Colorado-based company said it had a loss of $1.39. Losses, adjusted for non-recurring costs, came to $1.28 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.29 per share.
The biopharmaceutical company posted revenue of $42.6 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $41.8 million.
Clovis shares have fallen 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.71, a decline of 60% in the last 12 months.