NEEDHAM, Mass. (AP) _ Verastem Inc. (VSTM) on Wednesday reported a loss of $18.4 million in its second quarter.

On a per-share basis, the Needham, Massachusetts-based company said it had a loss of 30 cents.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.

The drug developer posted revenue of $10 million in the period.

Verastem shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.79, an increase of 99 percent 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 VSTM at https://www.zacks.com/ap/VSTM