SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Thursday reported a loss of $34.7 million in its third quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 34 cents.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The biotechnology company posted revenue of $3.3 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $2.6 million.
In the final minutes of trading on Thursday, the company’s shares hit $1.30. A year ago, they were trading at $5.24.
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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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