Acceleron Pharma Inc. (XLRN) saw its loss widen to $20.77 million, or $0.55 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $11.86 million, or $0.36 a share.
Revenue during the quarter dropped 27.68 percent to $3 million from $4.16 million in the previous year period.
Operating loss for the quarter was $20.51 million, compared with an operating loss of $14.61 million in the previous year period.
"In the third quarter, we continued to make strong progress across our pipeline of clinical and preclinical programs," said John Knopf, Ph.D., chief executive officer of Acceleron. "Enrollment continues to go well in both of the ongoing luspatercept Phase 3 studies in patients with myelodysplastic syndromes and beta-thalassemia. We look forward to providing new and updated preliminary results from several Phase 2 studies at the upcoming American Society of Hematology annual meeting in December. Within our muscle program, we're on track to initiate the ACE-083 Phase 2 study in patients with facioscapulohumeral muscular dystrophy before year-end."
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