MORRIS PLAINS, N.J. (AP) _ Immunomedics Inc. (IMMU) on Thursday reported a loss of $99.6 million in its fourth quarter.
The Morris Plains, New Jersey-based company said it had a loss of 50 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.
The biopharmaceutical company posted revenue of $295,000 in the period.
For the year, the company reported that its loss widened to $357.2 million, or $1.84 per share. Revenue was reported as $295,000.
Immunomedics shares have declined 26% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.67, a drop of 5% in the last 12 months.