Protein Design Lifts Forecast

Protein Design Labs(PDLI Quote) boosted its revenue forecast and reported quarterly earnings that were ahead of Wall Street's estimates, sending its shares higher in after-hours trading Thursday.

The Fremont, Calif., biotech reported a loss of $3.4 million, compared with a loss of $12.5 million in the year-ago quarter. On a per-share basis, Protein Design lost 3 cents a share vs. 13 cents a year earlier.

Excluding charges, the company reported income of $9.2 million, or 9 cents a share, compared with the 5 cents analysts expected for the latest quarter. ...