Friday May 9, 01:29 PM
Affymax reports wider 1Q loss; revenue of $16.7M misses estimates
BOSTON (Thomson Financial) - Affymax Inc (NASDAQ: AFFY - news) . Friday reported a first-quarter loss of $15.6 million, or $1.03 a share, wider than the mean estimate of analysts polled by Thomson Reuters (TRI.TO - news) of a loss of $1.02 a share.
In the same period a year ago, the company posted a loss of $7.2 million, or 48 cents a share.
Total revenue for the Palo Alto, Calif.-based biotechnology company jumped to $16.7 million from $7.3 million a year earlier. Analysts, on average, had estimated revenue of $18 million.
The company's shares closed Wednesday at $14.36.
Casey Logan
cl/vj
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