SAN FRANCISCO (AP) _ Nektar Therapeutics (NKTR) on Wednesday reported a loss of $118.5 million in its first quarter.
The San Francisco-based company said it had a loss of 68 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 71 cents per share.
The biopharmaceutical company posted revenue of $28.2 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $25.4 million.
Nektar shares have risen slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.98, a drop of 58% 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 NKTR at https://www.zacks.com/ap/NKTR