Momenta: 2Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ Momenta Pharmaceuticals Inc. (MNTA) on Friday reported a loss of $114 million in its second quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of $1.16.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The biotechnology company posted revenue of $5.2 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $9.1 million.
Momenta shares have increased 4% since the beginning of the year. The stock has declined 60% in the last 12 months.