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Cara: Q4 Earnings Snapshot
By AP News - Mar 04, 2024, 04:25 PM ET
Last Updated - Mar 04, 2024, 04:26 PM EST
STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Cara Therapeutics Inc. (CARA) on Monday reported a loss of $32.3 million in its fourth quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 59 cents.
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The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.
The biotechnology company posted revenue of $3 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.3 million.
For the year, the company reported that its loss widened to $118.5 million, or $2.19 per share. Revenue was reported as $21 million.
In the final minutes of trading on Monday, the company's shares hit $1. A year ago, they were trading at $9.80.
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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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