SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Wednesday reported a loss of $2.1 million in its fourth quarter.
The South San Francisco, California-based company said it had a loss of 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share.
The biotechnology company posted revenue of $54.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $16.9 million.
For the year, the company reported that its loss narrowed to $119 million, or $1.23 per share. Revenue was reported as $100.6 million.
In the final minutes of trading on Wednesday, the company’s shares hit $1.72. A year ago, they were trading at $6.48.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALEC at https://www.zacks.com/ap/ALEC
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