Updated 4:53pm EDT, Wednesday, August 5, 2020

SAN DIEGO (AP) _ Fate Therapeutics Inc. (FATE) on Wednesday reported a loss of $28.1 million in its second quarter.

On a per-share basis, the San Diego-based company said it had a loss of 35 cents.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.

The clinical-stage biotech company that develops stem cell treatments posted revenue of $5.5 million in the period, which also missed Street forecasts. Nine analysts surveyed by Zacks expected $20.3 million.

Fate Therapeutics shares have climbed 68% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.84, an increase of 70% 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 FATE at https://www.zacks.com/ap/FATE

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Fate Therapeutics: 2Q Earnings Snapshot - CT Post