REDWOOD CITY, Calif. (AP) _ Heron Therapeutics Inc. (HRTX) on Thursday reported a loss of $48 million in its fourth quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of $1.22. Losses, adjusted for stock option expense, came to $1.03 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.13 per share.
The pharmaceutical company posted revenue of $1.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.1 million.
For the year, the company reported that its loss widened to $173.1 million, or $4.56 per share. Revenue was nearly unchanged at $1.3 million.
Heron Therapeutics shares have climbed 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.75, a decline of 22 percent 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 HRTX at https://www.zacks.com/ap/HRTX
Keywords: Heron Therapeutics, Earnings Report