MENLO PARK, Calif. (AP) _ Versartis Inc. (VSAR) on Thursday reported a loss of $29.7 million in its first quarter.
On a per-share basis, the Menlo Park, California-based company said it had a loss of 85 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 70 cents per share.
Versartis shares have increased 33 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.80, more than doubling 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 VSAR at https://www.zacks.com/ap/VSAR
Keywords: Versartis, Earnings Report