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SAN FRANCISCO (AP) _ Invitae Corp. (NVTA) on Wednesday reported a loss of $241 million in its fourth quarter.
The San Francisco-based company said it had a loss of $1.34 per share. Losses, adjusted for costs related to mergers and acquisitions and amortization costs, came to 63 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.
The genetic testing company posted revenue of $100.4 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $97.9 million.
For the year, the company reported that its loss widened to $608.9 million, or $4.52 per share. Revenue was reported as $279.6 million.
Invitae shares have increased 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $47.86, a rise of 76% in the last 12 months.