SOUTH SAN FRANCISCO, Calif. (AP) _ Global Blood Therapeutics Inc. (GBT) on Wednesday reported a loss of $48.9 million in its first quarter.
The South San Francisco, California-based company said it had a loss of 87 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 94 cents per share.
Global Blood shares have climbed 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57.97, a rise of 19% 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 GBT at https://www.zacks.com/ap/GBT