BOSTON (AP) — BOSTON (AP) — Ironwood Pharmaceuticals Inc. (IRWD) on Wednesday reported a loss of $37.4 million in its first quarter.
The Boston-based company said it had a loss of 23 cents per share. Losses, adjusted for one-time gains and costs, were 14 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 5 cents per share.
The drugmaker posted revenue of $41.1 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $52.6 million.
Ironwood expects full-year revenue in the range of $260 million to $290 million.
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