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Zogenix: 3Q Earnings Snapshot

·1 min read

EMERYVILLE, Calif. (AP) _ Zogenix Inc. (ZGNX) on Monday reported a loss of $60.1 million in its third quarter.

On a per-share basis, the Emeryville, California-based company said it had a loss of $1.08. Losses, adjusted for amortization costs and costs related to mergers and acquisitions, were $1.02 per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.

The drugmaker posted revenue of $2.9 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $1.9 million.

Zogenix shares have fallen 56% since the beginning of the year. In the final minutes of trading on Monday, shares hit $23.10, a decline of 48% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZGNX at https://www.zacks.com/ap/ZGNX