ALACHUA, Fla. (AP) _ AxoGen Inc. (AXGN) on Wednesday reported a loss of $9.5 million in its first quarter.
On a per-share basis, the Alachua, Florida-based company said it had a loss of 24 cents. Losses, adjusted for stock option expense and non-recurring costs, were 15 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The regenerative medicine company posted revenue of $23.3 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $22.2 million.
AxoGen expects full-year revenue in the range of $109 million to $114 million.
AxoGen shares have risen 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.08, a decline of 47% 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 AXGN at https://www.zacks.com/ap/AXGN