NEW YORK (AP) — NEW YORK (AP) — Axsome Therapeutics Inc. (AXSM) on Monday reported a loss of $68.4 million in its first quarter.
On a per-share basis, the New York-based company said it had a loss of $1.44. Losses, adjusted for non-recurring costs, were $1.09 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.20 per share.
The biopharmaceutical company posted revenue of $75 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $69.9 million.
Axsome shares have dropped 6% since the beginning of the year. The stock has risen 5% 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 AXSM at https://www.zacks.com/ap/AXSM
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