SOUTH SAN FRANCISCO, Calif. (AP) _ Five Prime Therapeutics Inc. (FPRX) on Thursday reported a loss of $31.4 million in its fourth quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 89 cents.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 97 cents per share.
The biotech company that develops treatments targeting cancer and autoimmune diseases posted revenue of $3.2 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $4 million.
For the year, the company reported that its loss narrowed to $137.2 million, or $3.92 per share. Revenue was reported as $14.9 million.
In the final minutes of trading on Thursday, the company's shares hit $4.32. A year ago, they were trading at $12.74.