REDWOOD CITY, Calif. (AP) _ Coherus BioSciences Inc. (CHRS) on Thursday reported a loss of $20 million in its first quarter.
The Redwood City, California-based company said it had a loss of 29 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 46 cents per share.
The drug developer posted revenue of $37.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $36.8 million.
Coherus BioSciences shares have risen 78% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.10, a climb of 3% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHRS at https://www.zacks.com/ap/CHRS