Cara: 3Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Cara Therapeutics Inc. (CARA) on Tuesday reported a loss of $19.4 million in its third quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 51 cents.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 46 cents per share.
The biotechnology company posted revenue of $5.1 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $4.7 million.
Cara shares have climbed 61 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.72, an increase of 65 percent in the last 12 months.