STAMFORD, Conn. (AP) _ Cara Therapeutics Inc. (CARA) on Thursday reported a loss of $28.6 million in its fourth quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 61 cents.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 62 cents per share.
The biotechnology company posted revenue of $4.5 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $5.6 million.
For the year, the company reported that its loss widened to $106.4 million, or $2.49 per share. Revenue was reported as $19.9 million.
Cara shares have declined nearly 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.35, a drop of 12% in the last 12 months.