SOUTH SAN FRANCISCO, Calif. (AP) _ Five Prime Therapeutics Inc. (FPRX) on Wednesday reported a loss of $35.4 million in its first quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of $1.02.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.07 per share.
The biotech company that develops treatments targeting cancer and autoimmune diseases posted revenue of $5.3 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $5.7 million.
Five Prime Therapeutics shares have risen 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.94, a decline of 35% 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 FPRX at https://www.zacks.com/ap/FPRX