Cara: 3Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Cara Therapeutics Inc. (CARA) on Tuesday reported a loss of $32.8 million in its third quarter.
The Stamford, Connecticut-based company said it had a loss of 74 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 59 cents per share.
The biotechnology company posted revenue of $5.8 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $5.6 million.
Cara shares have increased 60% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.74, a climb of 6% in the last 12 months.