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Portola Pharmaceuticals posts 3Q loss

SOUTH SAN FRANCISCO, Calif. (AP) _ Portola Pharmaceuticals Inc. (PTLA) on Monday reported a loss of $82.9 million in its third quarter.

The South San Francisco, California-based company said it had a loss of $1.41 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.45 per share.

The biopharmaceutical company posted revenue of $3.8 million in the period.

Portola Pharmaceuticals shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $49.17, more than doubling 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 PTLA at https://www.zacks.com/ap/PTLA