PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Arrowhead Research Corp. (ARWR) on Tuesday reported a loss of $132.9 million in its fiscal first quarter.
The Pasadena, California-based company said it had a loss of $1.24 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 78 cents per share.
The drug developer posted revenue of $3.6 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $40.4 million.
Arrowhead Research shares have risen nearly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.25, a decline of almost 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARWR at https://www.zacks.com/ap/ARWR
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