ROCKVILLE, Md. (AP) _ MacroGenics Inc. (MGNX) on Tuesday reported a loss of $44.7 million in its first quarter.
The Rockville, Maryland-based company said it had a loss of 91 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.
The biopharmaceutical company posted revenue of $13.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $7.4 million.
MacroGenics shares have decreased 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.60, a fall of 59% in the last 12 months.