ALAMEDA, Calif. (AP) _ Lineage Cell Therapeutics, Inc. (LCTX) on Tuesday reported a third-quarter loss of $16.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Alameda, California-based company said it had a loss of 11 cents. Losses, adjusted for non-recurring costs, were 4 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The biotechnology company posted revenue of $567,000 in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $940,000.