SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Wednesday reported a loss of $36.1 million in its first quarter.

On a per-share basis, the South San Francisco, California-based company said it had a loss of 38 cents.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.

The biotechnology company posted revenue of $15.9 million in the period.

Alector expects full-year revenue in the range of $60 million to $70 million.

Alector shares have dropped 35% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.19, a fall of 35% in the last 12 months.

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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