CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Agios Pharmaceuticals Inc. (AGIO) on Thursday reported a loss of $81 million in its first quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of $1.47.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.72 per share.
The biopharmaceutical company posted revenue of $5.6 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $5.4 million.
Agios Pharmaceuticals shares have declined 19% since the beginning of the year. The stock has dropped slightly more than 1% 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 AGIO">Zacks stock report on AGIO at https://www.zacks.com/ap/AGIO