NEW YORK (AP) — NEW YORK (AP) — Axsome Therapeutics Inc. (AXSM) on Monday reported a loss of $59.4 million in its first quarter.
The New York-based company said it had a loss of $1.22 per share. Losses, adjusted for non-recurring costs, came to 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.26 per share.
The biopharmaceutical company posted revenue of $121.5 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $119.5 million.
Axsome shares have risen 33% since the beginning of the year. The stock has increased 50% 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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