WATERTOWN, Mass. (AP) _ Kala Pharmaceuticals Inc. (KALA) on Thursday reported a loss of $25.4 million in its first quarter.
The Watertown, Massachusetts-based company said it had a loss of 75 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 67 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.
The biopharmaceutical company posted revenue of $1.4 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $964,000.
Kala Pharma shares have climbed 45% since the beginning of the year. The stock has fallen 56% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KALA at https://www.zacks.com/ap/KALA