CAMBRIDGE, Mass. (AP) _ Akebia Therapeutics Inc. (AKBA) on Thursday reported a loss of $72.4 million in its first quarter.
The Cambridge, Massachusetts-based company said it had a loss of 62 cents per share. Losses, adjusted for one-time gains and costs, were 44 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 42 cents per share.
The kidney disease treatment developer posted revenue of $72.7 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $83.7 million.
Akebia Therapeutics shares have risen slightly more than 6% since the beginning of the year. The stock has decreased 37% 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 AKBA at https://www.zacks.com/ap/AKBA