PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Xencor Inc. (XNCR) on Wednesday reported a loss of $128.9 million in its first quarter.
On a per-share basis, the Pasadena, California-based company said it had a loss of $1.71.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 65 cents per share.
The biotech developing antibodies for severe autoimmune/allergic diseases and cancer posted revenue of $4.5 million in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $18.3 million.
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