SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Tuesday reported a loss of $52.4 million in its fourth quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 63 cents.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 54 cents per share.
The biotechnology company posted revenue of $14.4 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $35.4 million.
For the year, the company reported that its loss widened to $133.3 million, or $1.62 per share. Revenue was reported as $133.6 million.
Alector expects full-year revenue in the range of $15 million to $25 million.
Alector shares have decreased 7.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.54, a fall of 46% 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