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Cara: Q2 Earnings Snapshot
STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Cara Therapeutics Inc. (CARA) on Wednesday reported a loss of $20 million in its second quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 37 cents.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The biotechnology company posted revenue of $991,000 in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.3 million.
The company's shares closed at 34 cents. A year ago, they were trading at $3.
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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
