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OncoMed reports 4Q loss

REDWOOD CITY, Calif. (AP) _ OncoMed Pharmaceuticals Inc. (OMED) on Wednesday reported a loss of $22.3 million in its fourth quarter.

The Redwood City, California-based company said it had a loss of 60 cents per share. Losses, adjusted for non-recurring gains, were 64 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 68 cents per share.

The cancer therapy developer posted revenue of $6.2 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $6.4 million.

For the year, the company reported that its loss widened to $103.1 million, or $3.14 per share. Revenue was reported as $25.2 million.

OncoMed shares have climbed 19 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.14, a decrease of 14 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 OMED at https://www.zacks.com/ap/OMED


Keywords: OncoMed Pharmaceuticals, Earnings Report