WALTHAM, Mass. (AP) 鈥� WALTHAM, Mass. (AP) 鈥� Ardelyx Inc. (ARDX) on Thursday reported a loss of $37.6 million in its first quarter.
On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 15 cents.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The biotechnology company posted revenue of $94.5 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $91.5 million.
Ardelyx shares have increased almost 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.33, an increase of 15% in the last 12 months.
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