SAN DIEGO (AP) _ Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported a loss of $66.4 million in its first quarter.
The San Diego-based company said it had a loss of 42 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.
The drugmaker posted revenue of $106.6 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $112.9 million.
Acadia expects full-year revenue in the range of $510 million to $550 million.
Acadia shares have dropped 64% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.40, a fall of 59% 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 ACAD at https://www.zacks.com/ap/ACAD
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