SEATTLE (AP) — SEATTLE (AP) — Chinook Therapeutics, Inc. (KDNY) on Monday reported a fourth-quarter loss of $62.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Seattle-based company said it had a loss of 90 cents.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 79 cents per share.
The drug developer posted revenue of $512,000 in the period.
For the year, the company reported that its loss widened to $187.9 million, or $2.92 per share. Revenue was reported as $6.1 million.
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