SAN CARLOS, Calif. (AP) _ Lion Biotechnologies Inc. (LBIO) on Tuesday reported a loss of $15.7 million in its fourth quarter.
On a per-share basis, the San Carlos, California-based company said it had a loss of 25 cents. Losses, adjusted for stock option expense, came to 20 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
For the year, the company reported a loss of $52.9 million, or $1.85 per share.
Lion Biotechnologies shares have increased roughly 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.35, a climb of 24 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 LBIO at https://www.zacks.com/ap/LBIO
Keywords: Lion Biotechnologies, Earnings Report