SAN DIEGO (AP) — SAN DIEGO (AP) — Fate Therapeutics Inc. (FATE) on Tuesday reported a loss of $38.4 million in its second quarter.
On a per-share basis, the San Diego-based company said it had a loss of 33 cents.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 47 cents per share.
The clinical-stage biotech company that develops stem cell treatments posted revenue of $6.8 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.5 million.
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