SOMERVILLE, Mass. (AP) — SOMERVILLE, Mass. (AP) — Generate Biomedicines Inc. (GENB) on Thursday reported a loss of $61.4 million in its first quarter.
The Somerville, Massachusetts-based company said it had a loss of $1.07 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The clinical-stage generative biology company posted revenue of $7.2 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $6 million.
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