BURLINGTON, Mass. (AP) _ Flexion Therapeutics Inc. (FLXN) on Wednesday reported a loss of $28.6 million in its first quarter.
The Burlington, Massachusetts-based company said it had a loss of 57 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 49 cents per share.
The specialty pharmaceutical companies that specializes in pain relief posted revenue of $24.6 million in the period, which met Street forecasts.
Flexion Therapeutics shares have declined 19% since the beginning of the year. The stock has dropped 25% in the last 12 months.
The Associated Press