CUPERTINO, Calif. (AP) _ Durect Corp. (DRRX) on Monday reported a loss of $2 million in its third quarter.
The Cupertino, California-based company said it had a loss of 1 cent per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The specialty pharmaceutical company posted revenue of $10.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $7.8 million.
In the final minutes of trading on Monday, the company's shares hit $1.90. A year ago, they were trading at $1.