STAMFORD, Conn. (AP) _ Cara Therapeutics Inc. (CARA) on Monday reported a loss of $16.5 million in its third quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 35 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 68 cents per share.
The biotechnology company posted revenue of $9.3 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $5 million.
Cara shares have fallen almost 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.54, a decline of 30% in the last 12 months.
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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