HOLON, Israel (AP) — HOLON, Israel (AP) — Compugen Ltd. (CGEN) on Tuesday reported a fourth-quarter loss of $6.1 million, after reporting a profit in the same period a year earlier.
The Holon, Israel-based company said it had a loss of 7 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The drug developer posted revenue of $1.5 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $17.5 million.
For the year, the company reported that its loss narrowed to $14.2 million, or 16 cents per share. Revenue was reported as $27.9 million.
The company’s shares closed at $1.81. A year ago, they were trading at $2.64.
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