AP NEWS

Achaogen: 3Q Earnings Snapshot

November 8, 2018

SOUTH SAN FRANCISCO, Calif. (AP) _ Achaogen Inc. (AKAO) on Thursday reported a loss of $41.8 million in its third quarter.

On a per-share basis, the South San Francisco, California-based company said it had a loss of $1.02. Losses, adjusted for restructuring costs, were 88 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 96 cents per share.

The biopharmaceutical company posted revenue of $2 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $3.8 million.

The company’s shares closed at $3.08. A year ago, they were trading at $13.61.

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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 AKAO at https://www.zacks.com/ap/AKAO

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