SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Tuesday reported a loss of $26.6 million in its third quarter.
The San Diego-based company said it had a loss of 40 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.
The clinical-stage biotech company that develops stem cell treatments posted revenue of $2.4 million in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.9 million.
Fate Therapeutics shares have climbed 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.71, an increase of 7% in the last 12 months.