MADISON, Wis. (AP) -- Exact Sciences Corp. (EXAS) on Thursday reported a loss of $21.8 million in its fourth quarter.
The Madison, Wisconsin-based company said it had a loss of 18 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.
The molecular diagnostics company posted revenue of $87.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $87.3 million.
For the year, the company reported that its loss narrowed to $114.4 million, or 99 cents per share. Revenue was reported as $266 million.
Exact Sciences expects full-year revenue in the range of $420 million to $430 million.
Exact Sciences shares have dropped 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.99, an increase of 98 percent in the last 12 months.