ChemoCentryx, Inc. (CCXI) Wednesday reported a net loss of $9.7 million, or $0.28 per share for the fourth quarter, compared to earnings of $18.2 million, or $0.61 per share during the same quarter in 2011. The results reflected depressed revenues and higher operating expenses.
Meanwhile, revenues for quarter fell sharply to $2.14 million from $26.04 million for the same period in 2011. The decrease in revenues reflected a $25 million option fee recognized in 2011 resulting from GSK's election to exercise its option to license the company's product, said ChemoCentryx.
On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.28 per share on revenue of $1.21 million for the quarter. Analysts' estimates typically exclude special items.
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