NEW YORK (AP) — NEW YORK (AP) — Axsome Therapeutics Inc. (AXSM) on Monday reported a loss of $28.6 million in its fourth quarter.
The New York-based company said it had a loss of 56 cents per share. Losses, adjusted for non-recurring gains, came to 71 cents per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 70 cents per share.
The biopharmaceutical company posted revenue of $196 million in the period, topping Street forecasts. Ten analysts surveyed by Zacks expected $193 million.
For the year, the company reported that its loss narrowed to $183.2 million, or $3.68 per share. Revenue was reported as $638.5 million.
Axsome shares have climbed nearly 1% since the beginning of the year. The stock has climbed 33% 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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