EDMONTON, Alberta (AP) — EDMONTON, Alberta (AP) — Aurinia Pharmaceuticals Inc. (AUPH) on Thursday reported a loss of $10.7 million in its first quarter.

On a per-share basis, the Edmonton, Alberta-based company said it had a loss of 7 cents. Losses, adjusted for restructuring costs, were 3 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 17 cents per share.

The biotechnology company posted revenue of $50.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $46.3 million.

Aurinia shares have declined 42% since the beginning of the year. The stock has fallen 54% in the last 12 months.

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