PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Arrowhead Research Corp. (ARWR) on Monday reported a loss of $41.3 million in its fiscal first quarter.
On a per-share basis, the Pasadena, California-based company said it had a loss of 39 cents.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The drug developer posted revenue of $62.5 million in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $151.3 million.
Arrowhead Research shares have declined 18% since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.43, a drop of 33% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ARWR">Zacks stock report on ARWR at https://www.zacks.com/ap/ARWR