CAMBRIDGE, Mass. (AP) _ Seres Therapeutics Inc. (MCRB) on Thursday reported a loss of $24.3 million in its first quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 59 cents. Losses, adjusted for restructuring costs, came to 55 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.
The drug developer posted revenue of $7.3 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $8.6 million.
Seres Therapeutics shares have climbed 35% since the beginning of the year. The stock has dropped 22% 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 MCRB at https://www.zacks.com/ap/MCRB