Achaogen: 2Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Achaogen Inc. (AKAO) on Monday reported a loss of $50 million in its second quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of $1.20.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 92 cents per share.
The biopharmaceutical company posted revenue of $2.6 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $1.5 million.
Achaogen shares have declined 34 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.05, a drop of 60 percent in the last 12 months.