SEATTLE (AP) _ Chinook Therapeutics, Inc. (KDNY) on Wednesday reported a loss of $37.2 million in its first quarter.
The Seattle-based company said it had a loss of 88 cents per share. Losses, adjusted for non-recurring costs and amortization costs, came to 83 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 61 cents per share.
The drug developer posted revenue of $351,000 in the period.
Chinook shares have climbed nearly 1% since the beginning of the year. The stock has risen 45% in the last 12 months.
The Associated Press