SOUTH SAN FRANCISCO, Calif. (AP) _ Global Blood Therapeutics Inc. (GBT) on Wednesday reported a loss of $96 million in its fourth quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of $1.59. Losses, adjusted for non-recurring gains, came to $1.73 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.22 per share.
The biopharmaceutical company posted revenue of $2.1 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $512,000.
For the year, the company reported that its loss widened to $266.8 million, or $4.57 per share. Revenue was reported as $2.1 million.
Global Blood shares have decreased 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $65.22, a rise of 23% in the last 12 months.