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Lion Biotechnologies reports 1Q loss

SAN CARLOS, Calif. (AP) _ Lion Biotechnologies Inc. (LBIO) on Monday reported a loss of $20.7 million in its first quarter.

On a per-share basis, the San Carlos, California-based company said it had a loss of 33 cents. Losses, adjusted for stock option expense, were 28 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 28 cents per share.

Lion Biotechnologies shares have decreased nearly 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $6.90, a rise of 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LBIO at https://www.zacks.com/ap/LBIO

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Keywords: Lion Biotechnologies, Earnings Report