WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — Ardelyx Inc. (ARDX) on Thursday reported a loss of $41.1 million in its first quarter.
The Waltham, Massachusetts-based company said it had a loss of 17 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The biotechnology company posted revenue of $74.1 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $80.7 million.
Ardelyx shares have risen nearly 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.47, a decline of 17% 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 ARDX at https://www.zacks.com/ap/ARDX
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