Theravance Inc. (THRX: Quote) Tuesday reported a wider loss for the second quarter, due mainly to lower revenues and higher operating expenses.
The South San Francisco, California-based company's second-quarter net loss was $37.12 million or $0.42 per share, compared to $25.05 million or $0.31 per share last year. On average, seven analysts polled by Thomson Reuters expected loss of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter plunged to $1.43 million from $6.39 million in the prior-year quarter. Seven analysts had a consensus revenue estimate of $1.97 million for the quarter.
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by RTT Staff Writer
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