UPDATE 1-XenoPort posts wider-than-expected Q3 loss
* Q3 loss/share 96 cents wider than expected
* Expects to incur losses for several years
Nov 5 (Reuters) - XenoPort Inc (XNPT.O: Quote, Profile, Research) posted a significantly wider-than-expected quarterly loss as collaboration revenue fell 87 percent, and said it expects losses for the next several years.
The company posted a loss of $24.1 million, or 96 cents a share, compared with a profit of $15.6 million, or 63 cents a share in the year-ago period. Analysts' average estimate for the latest third quarter was a loss of 21 cents a share, according to Reuters Estimates.
Revenue fell to $4.8 million from $35.4 million a year earlier, which had included up-front and milestone payments under the company's agreement with GlaxoSmithKline (GSK.L: Quote, Profile, Research).
Shares of XenoPort closed at $40.48 Wednesday on Nasdaq.
For a company press release, please double-click [ID:nBw056080a] .
For the alerts, double-click [ID:nWNAB8395] . (Reporting by Jennifer Robin Raj in Bangalore; Editing by Pratish Narayanan)
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