Peregrine Pharmaceuticals, Inc. (PPHM), a California-based biopharmaceutical company focused on the treatment and diagnosis of cancer using monoclonal antibodies, on Tuesday reported narrower net loss for its third quarter, helped by higher revenues and lower expenses.
In the third quarter, the company's net loss narrowed to $4.91 million, or $0.04 per share from $11.09 million, or $0.13 per share in the comparable quarter last year.
On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.07 per share. Analysts' estimates typically exclude special items.
Meanwhile, total quarterly revenues rose to $7.03 million, from $3.28 million in the prior year, while three analysts had a consensus revenue estimate of $3.90 million for the quarter.
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