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CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Ionis Pharmaceuticals Inc. (IONS) on Wednesday reported a loss of $147 million in its first quarter.
The Carlsbad, California-based company said it had a loss of 93 cents per share. Losses, adjusted for stock option expense, were 75 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 $1.11 per share.
The drug discovery and development company posted revenue of $132 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $120.2 million.
Ionis Pharmaceuticals expects full-year revenue in the range of $725 million to $750 million.
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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 IONS at https://www.zacks.com/ap/IONS