SAN DIEGO (AP) — SAN DIEGO (AP) — Fate Therapeutics Inc. (FATE) on Monday reported a loss of $44.1 million in its fourth quarter.

The San Diego-based company said it had a loss of 45 cents per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.

The clinical-stage biotech company that develops stem cell treatments posted revenue of $1.7 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $850,000.

For the year, the company reported a loss of $160.9 million, or $1.64 per share. Revenue was reported as $63.5 million.

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