AxoGen: 2Q Earnings Snapshot
ALACHUA, Fla. (AP) _ AxoGen Inc. (AXGN) on Tuesday reported a loss of $7 million in its second quarter.
The Alachua, Florida-based company said it had a loss of 18 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The regenerative medicine company posted revenue of $26.7 million in the period, which matched Street forecasts.
AxoGen expects full-year revenue in the range of $106 million to $110 million.
AxoGen shares have dropped 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.58, a decline of 55% in the last 12 months.