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Global Blood: 4Q Earnings Snapshot

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.


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