CAMBRIDGE, Mass. (AP) _ Acceleron Pharma Inc. (XLRN) on Thursday reported a loss of $23.6 million in its fourth quarter.
The Cambridge, Massachusetts-based company said it had a loss of 44 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.
The clinical stage biotech developing protein therapeutics for cancer and rare diseases posted revenue of $39.3 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $32.8 million.
For the year, the company reported that its loss widened to $124.9 million, or $2.38 per share. Revenue was reported as $74 million.
Acceleron shares have risen 63% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $86.57, a climb of 89% in the last 12 months.