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Cardiome reports 4Q loss

VANCOUVER, British Columbia (AP) _ Cardiome Pharma Corp. (CRME) on Tuesday reported a loss of $8.3 million in its fourth quarter.

The Vancouver, British Columbia-based company said it had a loss of 24 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The cardiovascular drug maker posted revenue of $7 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $7.9 million.

For the year, the company reported that its loss widened to $29.8 million, or 90 cents per share. Revenue was reported as $24 million.

In the final minutes of trading on Tuesday, the company's shares hit $1.66. A year ago, they were trading at $2.98.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRME at https://www.zacks.com/ap/CRME