SOUTH SAN FRANCISCO, Calif. (AP) _ Rigel Pharmaceuticals Inc. (RIGL) on Tuesday reported a loss of $23.8 million in its third quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 14 cents.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The drug developer posted revenue of $4.9 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $3.5 million.
In the final minutes of trading on Tuesday, the company's shares hit $2.89. A year ago, they were trading at $3.79.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RIGL at https://www.zacks.com/ap/RIGL