Shares of Ginkgo Bioworks (NYSE: DNA) were sinking 9.5% lower as of 11:34 a.m. ET on Friday. The sell-off came after the biotechnology company announced its fourth-quarter and full-year 2023 results following the market close on Thursday.

Ginkgo reported Q4 revenue of $34.8 million, down 65% year over year. This result was well below the Wall Street consensus estimate of $42.5 million.

The company posted a fourth-quarter net loss of $211.7 million, or $0.11 per share. The average analyst estimate was for a net loss of $0.10 per share.

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Source Fool.com