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ROCKVILLE, Md. (AP) _ GlycoMimetics Inc. (GLYC) on Friday reported a loss of $7.7 million in its first quarter.
On a per-share basis, the Rockville, Maryland-based company said it had a loss of 18 cents.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 30 cents per share.
The biotechnology company posted revenue of $9 million in the period.
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The company’s shares closed at $2.79. A year ago, they were trading at $12.48.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLYC at https://www.zacks.com/ap/GLYC
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