CUPERTINO, Calif. (AP) _ Durect Corp. (DRRX) on Tuesday reported a loss of $8.8 million in its fourth quarter.
On a per-share basis, the Cupertino, California-based company said it had a loss of 6 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The specialty pharmaceutical company posted revenue of $3.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $3 million.
For the year, the company reported that its loss widened to $34.5 million, or 26 cents per share. Revenue was reported as $14 million.
In the final minutes of trading on Tuesday, the company's shares hit $1. A year ago, they were trading at $1.41.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DRRX at https://www.zacks.com/ap/DRRX
Keywords: Durect, Earnings Report