MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — Akoya Biosciences Inc. (AKYA) on Monday reported a loss of $23.5 million in its first quarter.
The Marlborough, Massachusetts-based company said it had a loss of 48 cents per share. Losses, adjusted for asset impairment costs and non-recurring costs, came to 35 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 30 cents per share.
The tissue analysis provider posted revenue of $18.4 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $24.1 million.
Akoya expects full-year revenue in the range of $104 million to $112 million.
In the final minutes of trading on Monday, the company’s shares hit $4.12. A year ago, they were trading at $6.24.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKYA at https://www.zacks.com/ap/AKYA
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
