BioCryst Pharmaceuticals reported a third quarter loss of 34 cents per share, missing analysts’ estimates of 32 cents in a press release Wednesday.

Third-quarter revenue also missed estimates by more than 40 percent at $1.78 million. Analysts estimated the company to reach sales of almost $3 million according to Bloomberg data.

Both figures increased from the same period last year. BioCryst reported a 2018 third quarter loss per share of 28 cents, while revenue for the year was a reported $1.5 million.

BioCryst expects 2019 net operating cash use to be in the range of $105 to $130 million, and its operating expenses to be in the range of $120 to $145 million.

The company recently submitted a new drug application to the Food and Drug Administration for BCX7353, which aims to prevent hereditary angioedema attacks.

“BioCryst is positioned for a transformational 2020, with the potential approval and launch of BCX7353 in the U.S.,”CEO Jon Stonehouse said in a press release Wednesday.

BioCryst Pharmaceuticals is headquartered in Durham and specializes in clinical development and drug discovery for autoimmune diseases.

Shares of BioCryst were trading at $2.10 Thursday, up nine cents.