CARLSBAD, Calif. (AP) _ Ionis Pharmaceuticals Inc. (IONS) on Tuesday reported a loss of $40.4 million in its second quarter.
The Carlsbad, California-based company said it had a loss of 29 cents per share. Losses, adjusted for non-recurring costs, were 5 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The drug discovery and development company posted revenue of $117.7 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $128.2 million.
Ionis Pharmaceuticals shares have dropped 15 percent since the beginning of the year. The stock has fallen 18 percent 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 IONS at https://www.zacks.com/ap/IONS