PALO ALTO, Calif. (AP) — PALO ALTO, Calif. (AP) — BridgeBio Pharma Inc. (BBIO) on Tuesday reported a loss of $167.4 million in its first quarter.
The Palo Alto, California-based company said it had a loss of 88 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1 per share.
The rare disease drug developer posted revenue of $116.6 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $62.5 million.
BridgeBio Pharma shares have risen 33% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.42, a rise of 43% in the last 12 months.
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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 BBIO at https://www.zacks.com/ap/BBIO
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