SOUTH SAN FRANCISCO, Calif. (AP) _ NGM Biopharmaceuticals Inc. (NGM) on Thursday reported a loss of $28 million in its fourth quarter.

On a per-share basis, the South San Francisco, California-based company said it had a loss of 40 cents.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 47 cents per share.

The biotechnology company posted revenue of $19.8 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $23.1 million.

For the year, the company reported that its loss widened to $102.5 million, or $1.50 per share. Revenue was reported as $87.4 million.

NGM Biopharmaceuticals shares have decreased 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27, an increase of 48% 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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