Acadia: 4Q Earnings Snapshot
SAN DIEGO (AP) _ Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported a loss of $53 million in its fourth quarter.
The San Diego-based company said it had a loss of 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share.
The drugmaker posted revenue of $98.3 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $95.9 million.
For the year, the company reported that its loss narrowed to $235.3 million, or $1.60 per share. Revenue was reported as $339.1 million.
Acadia shares have fallen 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $40.22, a climb of 71% in the last 12 months.