CARMEL, Ind. (AP) _ Assembly Biosciences Inc. (ASMB) on Thursday reported a loss of $25 million in its third quarter.
The Carmel, Indiana-based company said it had a loss of 96 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 93 cents per share.
The biotech drug developer posted revenue of $4.2 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $3.4 million.
Assembly Biosciences shares have dropped 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.22, a drop of 29% in the last 12 months.