Cara: Q1 Earnings Snapshot
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.