SAN DIEGO (AP) — SAN DIEGO (AP) — Fate Therapeutics Inc. (FATE) on Thursday reported a loss of $48 million in its first quarter.

The San Diego-based company said it had a loss of 47 cents per share.

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

The clinical-stage biotech company that develops stem cell treatments posted revenue of $1.9 million in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $800,000.

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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 FATE at https://www.zacks.com/ap/FATE