SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Nektar Therapeutics (NKTR) on Thursday reported a loss of $50.9 million in its first quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 24 cents. Losses, adjusted for non-recurring costs, came to 22 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The biopharmaceutical company posted revenue of $10.5 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $17.6 million.
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