NEW YORK (AP) — NEW YORK (AP) — Axsome Therapeutics Inc. (AXSM) on Tuesday reported a loss of $98.7 million in its fourth quarter.

The New York-based company said it had a loss of $2.08 per share. Losses, adjusted for non-recurring costs, came to 73 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.21 per share.

The biopharmaceutical company posted revenue of $71.5 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $70.4 million.

For the year, the company reported that its loss widened to $239.2 million, or $5.27 per share. Revenue was reported as $270.6 million.

Axsome shares have climbed 17% since the beginning of the year. The stock has risen 39% in the last 12 months.

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