SOUTH SAN FRANCISCO, Calif. (AP) _ Portola Pharmaceuticals Inc. (PTLA) on Wednesday reported a loss of $66.2 million in its second quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 97 cents. Losses, adjusted for asset impairment costs, were 92 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.05 per share.
The biopharmaceutical company posted revenue of $28.4 million in the period.
Portola Pharmaceuticals shares have increased 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.14, a decrease of 28% in the last 12 months.