CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Ionis Pharmaceuticals Inc. (IONS) on Tuesday reported a loss of $143 million in its first quarter.

The Carlsbad, California-based company said it had a loss of 98 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.10 per share.

The drug discovery and development company posted revenue of $119 million in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $131.5 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IONS at https://www.zacks.com/ap/IONS