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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.

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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