U.S. Markets closed

Fate Therapeutics: 2Q Earnings Snapshot

SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Tuesday reported a loss of $23.5 million in its second quarter.

The San Diego-based company said it had a loss of 36 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.

The clinical-stage biotech company that develops stem cell treatments posted revenue of $2.8 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $1.3 million.

Fate Therapeutics shares have climbed 54% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.82, a rise of 95% 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