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NEW YORK (AP) — NEW YORK (AP) — Axsome Therapeutics Inc. (AXSM) on Tuesday reported a loss of $98.7 million in its fourth quarter.
The New York-based company said it had a loss of $2.08 per share. Losses, adjusted for non-recurring costs, came to 73 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.21 per share.
The biopharmaceutical company posted revenue of $71.5 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $70.4 million.
For the year, the company reported that its loss widened to $239.2 million, or $5.27 per share. Revenue was reported as $270.6 million.
Axsome shares have climbed 17% since the beginning of the year. The stock has risen 39% 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 AXSM at https://www.zacks.com/ap/AXSM