SOUTH SAN FRANCISCO, Calif. (AP) _ Veracyte Inc. (VCYT) on Tuesday reported a loss of $1.9 million in its first quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 5 cents.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The molecular diagnostic company posted revenue of $29.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $28.2 million.
Veracyte expects full-year revenue in the range of $117 million to $121 million.
Veracyte shares have increased 82% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.92, more than tripling 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 VCYT at https://www.zacks.com/ap/VCYT