Durham-based Dova Pharmaceuticals Inc. posted third-quarter earnings that surpassed expectations, according to a filing with the Securities and Exchange Commission.
The company posted revenues of $2.93 million for the quarter ended September 2018, surpassing the Zacks consensus estimate by 10.11 percent. This compares to zero revenues a year ago.
Net loss for the third quarter of 2018 was $19.5 million, or 69 cents per share, compared to $9.7 million, or 38 cents per share, for the third quarter of the previous year.
Analysts were expecting a net loss of 82 cents per share.
The company’s shares fell $2.41, or 12.49 percent, to $16.98 on Friday.
The company’s shares have lost about 35 percent since the beginning of the year versus the S&P 500’s gain of 5.3 percent.
Dova, a pharmaceutical company focused on acquiring, developing and commercializing drug candidates for diseases where there is a high unmet need, was formed in March 2016. In that month, Dova acquired the worldwide rights to avatrombopag from Eisai, a Japanese pharmaceutical company.
Avatrombopag, which was renamed DOPTELET, is a prospective treatment for thrombocytopenia in patients with chronic liver disease. The drug was approved in May by the Food and Drug Administration.