Kala Pharma: 4Q Earnings Snapshot
WALTHAM, Mass. (AP) _ Kala Pharmaceuticals Inc. (KALA) on Wednesday reported a loss of $22 million in its fourth quarter.
The Waltham, Massachusetts-based company said it had a loss of 63 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 60 cents per share.
The biopharmaceutical company posted revenue of $1.2 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $2.9 million.
For the year, the company reported that its loss widened to $94.3 million, or $2.76 per share. Revenue was reported as $6.1 million.
Kala Pharma shares have increased 73% since the beginning of the year. The stock has decreased nearly 4% in the last 12 months.