CUPERTINO, Calif. (AP) — Durect Corp. (DRRX) on Tuesday reported a loss of $10.1 million in its first quarter.
On a per-share basis, the Cupertino, California-based company said it had a loss of 5 cents.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of 5 cents per share.
The specialty pharmaceutical company posted revenue of $2.2 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.6 million.
In the final minutes of trading on Tuesday, the company's shares hit $1.79. A year ago, they were trading at $2.04.