Seres Therapeutics reports 3Q loss

11/08/17 09:50 AM EST

CAMBRIDGE, Mass. (AP) _ Seres Therapeutics Inc. (MCRB) on Wednesday reported a loss of $6.9 million in its third quarter.

On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 17 cents.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.

The drug developer posted revenue of $23 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $18 million.

Seres Therapeutics shares have increased slightly more than 2 percent since the beginning of the year. The stock has decreased 6 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCRB at https://www.zacks.com/ap/MCRB