SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Thursday reported a loss of $30.5 million in its second quarter.
The South San Francisco, California-based company said it had a loss of 30 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.
The biotechnology company posted revenue of $7.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.8 million.
In the final minutes of trading on Thursday, the company’s shares hit $1.46. A year ago, they were trading at $4.91.
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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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