NORTH CAROLINA, N.C. (AP) _ Aerie Pharmaceuticals Inc. (AERI) on Wednesday reported a loss of $49.4 million in its third quarter.
The North Carolina, North Carolina-based company said it had a loss of $1.09 per share. Losses, adjusted for non-recurring costs, were 86 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 84 cents per share.
The drugmaker posted revenue of $18.5 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $17.6 million.
Aerie shares have declined 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.82, a drop of 56% in the last 12 months.