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Fate Therapeutics: 3Q Earnings Snapshot

·1 min read

SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Thursday reported a loss of $58.7 million in its third quarter.

The San Diego-based company said it had a loss of 68 cents per share. Losses, adjusted for non-recurring costs, were 36 cents per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.

The clinical-stage biotech company that develops stem cell treatments posted revenue of $7.6 million in the period, which also fell short of Street forecasts. Eight analysts surveyed by Zacks expected $10.2 million.

Fate Therapeutics shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $49.92, more than tripling 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