REDWOOD CITY, Calif. (AP) _ AcelRx Pharmaceuticals Inc. (ACRX) on Wednesday reported a loss of $12.7 million in its third quarter.
The Redwood City, California-based company said it had a loss of 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The drugmaker posted revenue of $608,000 in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $1.2 million.
In the final minutes of trading on Wednesday, the company's shares hit $1.91. A year ago, they were trading at $3.90.