SAN FRANCISCO (AP) _ Invitae Corp. (NVTA) on Tuesday reported a loss of $109.5 million in its first quarter.
The San Francisco-based company said it had a loss of 56 cents per share. Losses, adjusted for gains related to mergers and acquisitions, came to 63 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 60 cents per share.
The genetic testing company posted revenue of $103.6 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $102 million.
Invitae shares have dropped 25% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.50, an increase of 94% 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 NVTA at https://www.zacks.com/ap/NVTA
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News