NEW HAVEN, Conn. (AP) _ Melinta Therapeutics, Inc. (MLNT) on Wednesday reported a loss of $27.9 million in its third quarter.
The New Haven, Connecticut-based company said it had a loss of 50 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 $1.05 per share.
The drugmaker posted revenue of $34.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $17.2 million.
In the final minutes of trading on Wednesday, the company's shares hit $2.55. A year ago, they were trading at $11.95.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MLNT at https://www.zacks.com/ap/MLNT