MENLO PARK, Calif. (AP) _ Intersect ENT Inc. (XENT) on Thursday reported a loss of $11.4 million in its second quarter.
The Menlo Park, California-based company said it had a loss of 36 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 34 cents per share.
The maker of absorbable nasal implants posted revenue of $26.7 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $27 million.
Intersect ENT expects full-year revenue of $108.5 million.
Intersect ENT shares have decreased 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.13, a drop of 23% in the last 12 months.