PASADENA, Calif. (AP) 鈥� PASADENA, Calif. (AP) 鈥� Arrowhead Research Corp. (ARWR) on Thursday reported a fiscal second-quarter loss of $132.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Pasadena, California-based company said it had a loss of 93 cents.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.18 per share.
The drug developer posted revenue of $73.7 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $70.1 million.
Arrowhead Research shares have increased 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $78, climbing fivefold in the last 12 months.
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