AVEO: 3Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ AVEO Pharmaceuticals Inc. (AVEO) on Friday reported a loss of $22.2 million in its third quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 18 cents. Losses, adjusted for non-recurring costs, were 5 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The cancer drug company posted revenue of $2.5 million in the period.
The company’s shares closed at $2. A year ago, they were trading at $2.85.