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Mirati: 1Q Earnings Snapshot

SAN DIEGO (AP) _ Mirati Therapeutics Inc. (MRTX) on Monday reported a loss of $40.9 million in its first quarter.

The San Diego-based company said it had a loss of $1.17 per share.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 96 cents per share.

The biopharmaceutical company posted revenue of $1.2 million in the period.

Mirati shares have increased 45% since the beginning of the year. In the final minutes of trading on Monday, shares hit $61.45, an increase of 92% 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 MRTX at https://www.zacks.com/ap/MRTX