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SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — NGM Biopharmaceuticals Inc. (NGM) on Thursday reported a loss of $47.6 million in its first quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 58 cents.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 52 cents per share.
The biotechnology company posted revenue of $2.2 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $6.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a NGM">Zacks stock report on NGM at https://www.zacks.com/ap/NGM