SAN RAFAEL, Calif. (AP) _ BioMarin Pharmaceutical Inc. (BMRN) on Thursday reported a loss of $56.5 million in its first quarter.
The San Rafael, California-based company said it had a loss of 32 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 14 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The rare disease biopharmaceutical posted revenue of $400.7 million in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $387.2 million.
BioMarin expects full-year revenue in the range of $1.68 billion to $1.75 billion.
BioMarin shares have risen slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $85.31, a rise of nearly 5 percent 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 BMRN at https://www.zacks.com/ap/BMRN