SAN DIEGO (AP) — SAN DIEGO (AP) — Fate Therapeutics Inc. (FATE) on Tuesday reported a loss of $47.7 million in its third quarter.

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

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

The clinical-stage biotech company that develops stem cell treatments posted revenue of $3.1 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $880,000.

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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