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Cara: Q1 Earnings Snapshot

May 9, 2022 GMT

STAMFORD, Conn. (AP) _ Cara Therapeutics Inc. (CARA) on Monday reported a loss of $27.7 million in its first quarter.

The Stamford, Connecticut-based company said it had a loss of 52 cents per share.

The results beat 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 $4.8 million in the period.

Cara shares have dropped 39% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.49, a decline of 40% in the last 12 months.

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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