CAMBRIDGE, Mass. (AP) _ Ironwood Pharmaceuticals Inc. (IRWD) on Thursday reported a loss of $59.3 million in its first quarter.
The Cambridge, Massachusetts-based company said it had a loss of 38 cents per share. Losses, adjusted for non-recurring costs and restructuring costs, came to 26 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The drugmaker posted revenue of $68.7 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $83.1 million.
Ironwood expects full-year revenue in the range of $370 million to $390 million.
Ironwood shares have risen 14% since the beginning of the year. The stock has dropped 37% 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 IRWD at https://www.zacks.com/ap/IRWD