ALACHUA, Fla. (AP) _ AxoGen Inc. (AXGN) on Wednesday reported a loss of $5.6 million in its third quarter.
The Alachua, Florida-based company said it had a loss of 14 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 7 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The regenerative medicine company posted revenue of $28.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $28.1 million.
AxoGen expects full-year revenue in the range of $106 million to $110 million.
AxoGen shares have declined 35% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.23, a drop of 63% in the last 12 months.