CUPERTINO, Calif. (AP) _ Durect Corp. (DRRX) on Thursday reported a loss of $7.2 million in its second quarter.
The Cupertino, California-based company said it had a loss of 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The specialty pharmaceutical company posted revenue of $4 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $4.1 million.
In the final minutes of trading on Thursday, the company's shares hit $1.09. A year ago, they were trading at $1.50.