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SOUTH SAN FRANCISCO, Calif. (AP) _ Alector Inc. (ALEC) on Tuesday reported a third-quarter loss of $46.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 56 cents.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.
The biotechnology company posted revenue of $14.9 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $52.7 million.
Alector shares have decreased 58% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.58, a decline of 65% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ALEC">Zacks stock report on ALEC at https://www.zacks.com/ap/ALEC