SOUTH SAN FRANCISCO, Calif. (AP) _ Rigel Pharmaceuticals Inc. (RIGL) on Tuesday reported a loss of $11.5 million in its third quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 7 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The drug developer posted revenue of $20.9 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $16.3 million.
In the final minutes of trading on Tuesday, the company's shares hit $2.17. A year ago, they were trading at $2.93.