MENLO PARK, Calif. (AP) _ Pacific Biosciences of California Inc. (PACB) on Wednesday reported a loss of $23.9 million in its first quarter.
The Menlo Park, California-based company said it had a loss of 26 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The maker of genetic analysis technology posted revenue of $24.9 million in the period.
Pacific Biosciences shares have increased 36 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.15, a fall of 50 percent in the last 12 months.
No comments:
Post a Comment