SANTA MONICA, Calif. (AP) _ Kite Pharma Inc. (KITE) on Monday reported a loss of $90.4 million in its first quarter.
The Santa Monica, California-based company said it had a loss of $1.74 per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.68 per share.
The biotechnology company posted revenue of $9.8 million in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $15.3 million.
Kite Pharma shares have risen 82 percent since the beginning of the year. The stock has increased 83 percent in the last 12 months.
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