ROCKVILLE, Md. (AP) _ MacroGenics Inc. (MGNX) on Wednesday reported a loss of $44.6 million in its third quarter.
The Rockville, Maryland-based company said it had a loss of 91 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 95 cents per share.
The biopharmaceutical company posted revenue of $18.7 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $23.3 million.
MacroGenics shares have declined 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.37, a decrease of 50% in the last 12 months.