CAMBRIDGE, Mass. (AP) _ Acceleron Pharma Inc. (XLRN) on Tuesday reported a loss of $25.5 million in its third quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 65 cents.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 67 cents per share.
The clinical stage biotech developing protein therapeutics for cancer and rare diseases posted revenue of $3 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $3.1 million.
Acceleron shares have climbed 46 percent since the beginning of the year. The stock has risen 36 percent in the last 12 months.