SAN CARLOS, Calif. (AP) — SAN CARLOS, Calif. (AP) — Iovance Biotherapeutics Inc. (IOVA) on Thursday reported a loss of $113 million in its first quarter.
The San Carlos, California-based company said it had a loss of 42 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.
The biotechnology company posted revenue of $715,000 in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $2.9 million.
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