Seres Therapeutics reports 3Q loss
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.