Medicines Co.: 2Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ The Medicines Co. (MDCO) on Wednesday reported a loss of $54.2 million in its second quarter.
The Parsippany, New Jersey-based company said it had a loss of 74 cents per share. Losses, adjusted for one-time gains and costs, were 63 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share.
The pharmaceutical company posted revenue of $1.7 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $7.6 million.
Medicines Co. shares have increased 45 percent since the beginning of the year. The stock has increased slightly more than 3 percent in the last 12 months.