Shares of Five Prime Therapeutics fell more than 2% intraday after the company reported late Tuesday a Q2 loss of $1.58 per diluted share compared with a loss of $0.49 per share a year ago, lagging the $1.15 average loss-per-share estimate from analysts polled by Capital IQ. Collaboration and license revenue fell to $7.8 million from $9.2 million a year ago, coming in below the $9.2-million consensus.
Stating its cash guidance, the company said it expects full-year 2017 net cash used in operating activities to be less than $120 million. It estimates ending 2017 with cash, cash equivalents and marketable securities of slightly less than $300 million. Shares traded near the bottom end of their 52-week price range of $26.27 – $60.98.