NEW YORK (Thomson Financial) - Penwest Pharmaceuticals Co. Friday reported a
first-quarter net loss of $10.3 million, or 41 cents a share, wider than the
mean estimate of analysts polled by Thomson Reuters of a loss of 34 cents a
share.
Revenue for the pharmaceutical company fell to $739,000, below the $870,000
analyst estimate.
In the year-ago period, the company posted a net loss of $7 million, or 30
cents a share, on revenue of $842,000.
Shares of Penwest closed Thursday at $2.94. The stock is down about 76% over
the past 52 weeks.
Ryan Vlastelica
rv/pc
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