CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akebia Therapeutics Inc. (AKBA) on Thursday reported a loss of $12.2 million in its fourth quarter.
The Cambridge, Massachusetts-based company said it had a loss of 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The kidney disease treatment developer posted revenue of $57.6 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $47.2 million.
For the year, the company reported that its loss narrowed to $5.3 million, or 2 cents per share. Revenue was reported as $236.2 million.
The company’s shares closed at $1.22. A year ago, they were trading at $1.82.
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