STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Cara Therapeutics Inc. (CARA) on Monday reported a loss of $31.5 million in its second quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 58 cents.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 56 cents per share.
The biotechnology company posted revenue of $6.9 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $6.5 million.
In the final minutes of trading on Monday, the company's shares hit $2.94. A year ago, they were trading at $11.27.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CARA at https://www.zacks.com/ap/CARA
For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights.
, source Associated Press News