EMERYVILLE, Calif. (AP) — Adamas Pharmaceuticals Inc. (ADMS) on Thursday reported a loss of $27.6 million in its third quarter.
On a per-share basis, the Emeryville, California-based company said it had a loss of 99 cents.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 90 cents per share.
The drugmaker posted revenue of $13.9 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $14.4 million.
In the final minutes of trading on Thursday, the company's shares hit $4.70. A year ago, they were trading at $13.06.