Shares of Cara Therapeutics Inc. (CARA) are slipping nearly 30% on Tuesday morning after the commercial-stage biopharmaceutical company reported its fourth quarter results.
CARA is currently trading at $7.12, down $2.90 or 28.94%, on the Nasdaq. The stock has traded between $6.98 and $13.97 in the past 52-week period.
Revenues for the quarter were $3.26 million, up from $821 thousand last year. Net loss for the quarter was $30.3 million or $0.56 per share, compared to $33.4 million or $0.63 per share last year.
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