Acceleron Pharma Q1 Loss Widens - Quick Facts

(RTTNews) - Acceleron Pharma Inc. (XLRN) said that its first-quarter net loss applicable to common stockholders widened to $9.12 million from last year's $2.34 million, with loss per share widened to $0.30 from $0.24 in the previous year.

Net loss was $9.1 million for the first quarter of 2014, compared to net income of $1.6 million for the comparable periods in 2013. The first quarter of 2014 results were affected by a gain of $4.0 million associated with marking to market warrants to purchase of common stock, which are treated as liabilities, as a result of the value of the warrants declining between December 31, 2013 and March 31, 2014 primarily due to the change in the Company's common stock price during that period. The first quarter 2013 net income of $1.6 million resulted primarily from the $10.0 million milestone earned by the Company during that quarter.

Collaboration revenue was $3.3 million for the first quarter of 2014 compared to $15.0 million for the comparable periods in 2013. The decrease for the first quarter of 2014 compared to the comparable period in 2013 was primarily driven by the $10.0 million milestone payment received from Celgene for the Company's initiation of a phase 2 clinical trial of ACE-536 in January 2013.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.44 per share and revenues of $2.85 million for the quarter. Analysts' estimates typically exclude special items.