SOUTH SAN FRANCISCO, Calif. (AP) 鈥� SOUTH SAN FRANCISCO, Calif. (AP) 鈥� Alector Inc. (ALEC) on Thursday reported a loss of $23 million in its second quarter.
The South San Francisco, California-based company said it had a loss of 21 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The biotechnology company posted revenue of $3.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $866,000.
In the final minutes of trading on Thursday, the company’s shares hit $1.83. A year ago, they were trading at $1.43.
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