CARLSBAD, Calif. (AP) _ Ionis Pharmaceuticals Inc. (IONS) on Wednesday reported a third-quarter loss of $31 million, after reporting a profit in the same period a year earlier.
The Carlsbad, California-based company said it had a loss of 22 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The drug discovery and development company posted revenue of $160 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $189.3 million.
Ionis Pharmaceuticals shares have fallen 22% since the beginning of the year. The stock has dropped 14% 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 IONS at https://www.zacks.com/ap/IONS