EDMONTON, Alberta (AP) — EDMONTON, Alberta (AP) — Aurinia Pharmaceuticals Inc. (AUPH) on Thursday reported a loss of $10.7 million in its first quarter.
On a per-share basis, the Edmonton, Alberta-based company said it had a loss of 7 cents. Losses, adjusted for restructuring costs, were 3 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The biotechnology company posted revenue of $50.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $46.3 million.
Aurinia shares have declined 42% since the beginning of the year. The stock has fallen 54% 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 AUPH at https://www.zacks.com/ap/AUPH