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Fate Therapeutics: 1Q Earnings Snapshot

SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Tuesday reported a loss of $19.8 million in its first quarter.

On a per-share basis, the San Diego-based company said it had a loss of 30 cents.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.

The clinical-stage biotech company that develops stem cell treatments posted revenue of $2.6 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.9 million.

Fate Therapeutics shares have increased 32% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.98, an increase of 61% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FATE at https://www.zacks.com/ap/FATE