SOUTH SAN FRANCISCO, Calif. (AP) _ Alector Inc. (ALEC) on Thursday reported a loss of $44.6 million in its first quarter.

On a per-share basis, the South San Francisco, California-based company said it had a loss of 54 cents.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The biotechnology company posted revenue of $24.5 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $91.6 million.

Alector shares have dropped 54% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.52, a drop of 39% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALEC at https://www.zacks.com/ap/ALEC

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