Acceleron: 3Q Earnings Snapshot
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.