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Proteostasis reports 4Q loss

CAMBRIDGE, Mass. (AP) _ Proteostasis Therapeutics Inc. (PTI) on Wednesday reported a loss of $13.4 million in its fourth quarter.

The Cambridge, Massachusetts-based company said it had a loss of 51 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 65 cents per share.

The biopharmaceutical company posted revenue of $1.6 million in the period.

For the year, the company reported that its loss widened to $59.4 million, or $2.34 per share. Revenue was reported as $5.3 million.

Proteostasis shares have climbed 12 percent since the beginning of the year. The stock has decreased 48 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 PTI at https://www.zacks.com/ap/PTI