CARMEL, Ind. (AP) _ Assembly Biosciences Inc. (ASMB) on Monday reported a loss of $18.5 million in its second quarter.
The Carmel, Indiana-based company said it had a loss of 72 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.10 per share.
The biotech drug developer posted revenue of $3.1 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $3.9 million.
Assembly Biosciences shares have fallen 48% since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.86, a drop of 71% in the last 12 months.