SOUTH SAN FRANCISCO, Calif. (AP) 鈥� SOUTH SAN FRANCISCO, Calif. (AP) 鈥� Alector Inc. (ALEC) on Thursday reported a loss of $22.9 million in its first quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 21 cents.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The biotechnology company posted revenue of $1 million in the period.
In the final minutes of trading on Thursday, the company’s shares hit $2.44. A year ago, they were trading at $1.02.
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