STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Cara Therapeutics Inc. (CARA) on Monday reported a loss of $30.7 million in its first quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 56 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.
The biotechnology company posted revenue of $2.1 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $2.3 million.
In the final minutes of trading on Monday, the company’s shares hit 72 cents. A year ago, they were trading at $4.03.
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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 CARA at https://www.zacks.com/ap/CARA
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