CAMBRIDGE, Mass. (AP) _ Acceleron Pharma Inc. (XLRN) on Thursday reported a loss of $38.1 million in its first quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 74 cents.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 67 cents per share.
The clinical stage biotech developing protein therapeutics for cancer and rare diseases posted revenue of $2.8 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.7 million.
Acceleron shares have fallen almost 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $41.51, an increase of 15% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XLRN at https://www.zacks.com/ap/XLRN