Cara Therapeutics Stock Tanks 30% On Quarterly Results

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Looking to Invest in the Best Biotech Stocks? Subscribe to RTT Biotech Investor.
Follow RTT