SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported first-quarter earnings of $3.6 million.
On a per-share basis, the San Diego-based company said it had profit of 2 cents.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The drugmaker posted revenue of $268.1 million in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $282.2 million.
Acadia expects full-year revenue in the range of $1.22 billion to $1.28 billion.
Acadia shares have decreased 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.70, a rise of 49% in the last 12 months.
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