Published 4:10pm EST, Monday, March 2, 2020

SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Monday reported a loss of $28.3 million in its fourth quarter.

The San Diego-based company said it had a loss of 37 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 39 cents per share.

The clinical-stage biotech company that develops stem cell treatments posted revenue of $2.8 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.8 million.

For the year, the company reported that its loss widened to $98.1 million, or $1.44 per share. Revenue was reported as $10.7 million.

Fate Therapeutics shares have climbed 58% since the beginning of the year. In the final minutes of trading on Monday, shares hit $30.95, a rise of 87% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FATE at https://www.zacks.com/ap/FATE

Link:
Fate Therapeutics: 4Q Earnings Snapshot - Thehour.com