BioMarin: 2Q Earnings Snapshot
SAN RAFAEL, Calif. (AP) _ BioMarin Pharmaceutical Inc. (BMRN) on Thursday reported a loss of $16.8 million in its second quarter.
The San Rafael, California-based company said it had a loss of 9 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 12 cents per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The rare disease biopharmaceutical posted revenue of $372.8 million in the period, which topped Street forecasts. Ten analysts surveyed by Zacks expected $361.5 million.
BioMarin expects full-year revenue in the range of $1.47 billion to $1.53 billion.
BioMarin shares have risen 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $102.05, an increase of 16 percent in the last 12 months.