NEW YORK (TheStreet) -- Baxalta  (BXLT) stock is up by 0.08% to $38.70 in pre-market trading on Tuesday, after the company reported better-than-expected 2015 fourth quarter results.

Before the market open on Tuesday, the biopharmaceutical company reported earnings of 57 cents per share, beating analysts' estimates for earnings of 56 cents per share.

Revenue of $1.76 billion topped analysts' forecasts for revenue of $1.69 billion.

However, Baxalta projected 2016 first quarter earnings in the range of 44 cents per share to 46 cents per share, while analysts were projecting earnings of 49 cents per share. 

Additionally, the company is on track towards delivering 20 new product launches by 2020, Baxalta said in a statement. 

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