NEW YORK (AP) — NEW YORK (AP) — Intra-Cellular Therapies Inc. (ITCI) on Wednesday reported a loss of $44 million in its fourth quarter.
On a per-share basis, the New York-based company said it had a loss of 45 cents.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 62 cents per share.
The biopharmaceutical company posted revenue of $87.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $83.2 million.
For the year, the company reported that its loss narrowed to $256.3 million, or $2.72 per share. Revenue was reported as $250.3 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITCI at https://www.zacks.com/ap/ITCI
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