NEW YORK (AP) _ Axsome Therapeutics Inc. (AXSM) on Tuesday reported a loss of $41.4 million in its second quarter.

On a per-share basis, the New York-based company said it had a loss of $1.06.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.19 per share.

The biopharmaceutical company posted revenue of $8.8 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $9.6 million.

Axsome shares have increased 15% since the beginning of the year. The stock has declined 15% 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 AXSM at https://www.zacks.com/ap/AXSM

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News