STOUGHTON, Mass. (AP) _ Collegium Pharmaceutical Inc. (COLL) on Wednesday reported a loss of $4.7 million in its second quarter.
The Stoughton, Massachusetts-based company said it had a loss of 14 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The specialty pharmaceutical company posted revenue of $75 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $76 million.
Collegium Pharmaceutical shares have decreased 38% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.61, a decrease of 43% in the last 12 months.