NORTH CAROLINA, N.C. (AP) _ Aerie Pharmaceuticals Inc. (AERI) on Tuesday reported a loss of $48 million in its first quarter.
The North Carolina, North Carolina-based company said it had a loss of $1.06 per share. Losses, adjusted for non-recurring costs, came to 78 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 91 cents per share.
The drugmaker posted revenue of $10.9 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $12.7 million.
Aerie shares have risen 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.25, a fall of 25% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AERI at https://www.zacks.com/ap/AERI