CARLSBAD, Calif. (AP) _ Ionis Pharmaceuticals Inc. (IONS) on Wednesday reported a loss of $90 million in its first quarter.

On a per-share basis, the Carlsbad, California-based company said it had a loss of 64 cents.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.

The drug discovery and development company posted revenue of $112 million in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $133.4 million.

Ionis Pharmaceuticals shares have dropped 26% since the beginning of the year. The stock has declined 27% 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 IONS at https://www.zacks.com/ap/IONS