SAN FRANCISCO (AP) _ Nektar Therapeutics (NKTR) on Thursday reported a loss of $80 million in its second quarter.
The San Francisco-based company said it had a loss of 45 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 69 cents per share.
The biopharmaceutical company posted revenue of $48.8 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $22.8 million.
Nektar shares have dropped slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.51, a drop of 25% 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 NKTR at https://www.zacks.com/ap/NKTR
Automated Insights, source Associated Press News