WAYNE, Pa. (AP) _ Aclaris Therapeutics Inc. (ACRS) on Thursday reported a loss of $49.9 million in its second quarter.
On a per-share basis, the Wayne, Pennsylvania-based company said it had a loss of $1.21. Losses, adjusted for asset impairment costs and amortization costs, were 72 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 77 cents per share.
The specialty pharmaceutical company posted revenue of $5.9 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $5.8 million.
In the final minutes of trading on Thursday, the company's shares hit 99 cents. A year ago, they were trading at $17.37.