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.
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