SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Nektar Therapeutics (NKTR) on Thursday reported a loss of $36.8 million in its first quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 19 cents. Losses, adjusted for restructuring costs, came to 18 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.

The biopharmaceutical company posted revenue of $21.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $14.9 million.

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