SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Wednesday reported a loss of $37.3 million in its fourth quarter.
The South San Francisco, California-based company said it had a loss of 34 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 39 cents per share.
The biotechnology company posted revenue of $6.2 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.1 million.
For the year, the company reported that its loss widened to $142.9 million, or $1.39 per share. Revenue was reported as $21 million.
In the final minutes of trading on Wednesday, the company’s shares hit $2.39. A year ago, they were trading at $1.77.
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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