SINGAPORE (AP) _ Wave Life Sciences Pte. Ltd. (WVE) on Tuesday reported a loss of $50.7 million in its third quarter.
The Singapore-based company said it had a loss of $1.48 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.39 per share.
The biopharmaceutical company posted revenue of $2.9 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $6.3 million.
Wave Life Sciences shares have decreased 36% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.99, a drop of 43% in the last 12 months.