Momenta: 4Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ Momenta Pharmaceuticals Inc. (MNTA) on Wednesday reported a loss of $86.7 million in its fourth quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 85 cents.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.
The biotechnology company posted revenue of $8.2 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $5 million.
For the year, the company reported that its loss widened to $290.1 million, or $2.92 per share. Revenue was reported as $23.9 million.
Momenta shares have risen 56% since the beginning of the year. The stock has more than doubled in the last 12 months.