SOUTH SAN FRANCISCO, Calif. (AP) _ NGM Biopharmaceuticals Inc. (NGM) on Thursday reported a loss of $27.5 million in its first quarter.

On a per-share basis, the South San Francisco, California-based company said it had a loss of 36 cents.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.

The biotechnology company posted revenue of $21.6 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $21.3 million.

NGM Biopharmaceuticals shares have dropped 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.75, a rise of 33% 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 NGM at https://www.zacks.com/ap/NGM

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