CAMBRIDGE, Mass. (AP) _ Acceleron Pharma Inc. (XLRN) on Thursday reported a loss of $63.5 million in its second quarter.
The Cambridge, Massachusetts-based company said it had a loss of $1.05 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 92 cents per share.
The clinical stage biotech developing protein therapeutics for cancer and rare diseases posted revenue of $27.9 million in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $31.1 million.
Acceleron shares have decreased roughly 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $126.78, an increase of 19% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XLRN at https://www.zacks.com/ap/XLRN
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News