SAN FRANCISCO (AP) _ Nektar Therapeutics (NKTR) on Wednesday reported a loss of $98.8 million in its third quarter.
The San Francisco-based company said it had a loss of 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 73 cents per share.
The biopharmaceutical company posted revenue of $29.2 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $26.2 million.
Nektar shares have dropped 45% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.09, a drop of 50% in the last 12 months.