Axsome: Q1 Earnings Snapshot

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NEW YORK (AP) — NEW YORK (AP) — Axsome Therapeutics Inc. (AXSM) on Monday reported a loss of $11.2 million in its first quarter.

On a per-share basis, the New York-based company said it had a loss of 26 cents. Losses, adjusted for amortization costs, came to 22 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $1.13 per share.

The biopharmaceutical company posted revenue of $94.6 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $26.9 million.

Axsome shares have fallen slightly more than 4% since the beginning of the year. The stock has more than doubled 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 AXSM at https://www.zacks.com/ap/AXSM