CAMBRIDGE, Mass. (AP) _ Acceleron Pharma Inc. (XLRN) on Thursday reported a loss of $28.9 million in its second quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 63 cents.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share.
The clinical stage biotech developing protein therapeutics for cancer and rare diseases posted revenue of $3.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $3.4 million.
Acceleron shares have risen almost 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.65, an increase of 32 percent 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