Cara: 2Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Cara Therapeutics Inc. (CARA) on Tuesday reported a loss of $17.2 million in its second quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 52 cents.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 50 cents per share.
The biotechnology company posted revenue of $2.9 million in the period.
Cara shares have climbed 47 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.97, an increase of 20 percent in the last 12 months.