AP NEWS

Acceleron: 3Q Earnings Snapshot

November 6, 2019 GMT

CAMBRIDGE, Mass. (AP) _ Acceleron Pharma Inc. (XLRN) on Wednesday reported a loss of $45.4 million in its third quarter.

The Cambridge, Massachusetts-based company said it had a loss of 86 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.

The clinical stage biotech developing protein therapeutics for cancer and rare diseases posted revenue of $4.2 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $3.4 million.

Acceleron shares have risen slightly more than 9% since the beginning of the year. The stock has fallen 12% 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 XLRN at https://www.zacks.com/ap/XLRN