SAN DIEGO (AP) _ Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported a loss of $54.9 million in its second quarter.
On a per-share basis, the San Diego-based company said it had a loss of 38 cents.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 46 cents per share.
The drugmaker posted revenue of $83.2 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $73.1 million.
Acadia shares have risen 52% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.58, a rise of 63% in the last 12 months.