CANTON, Mass. (AP) — Collegium Pharmaceutical Inc. (COLL) on Thursday reported a loss of $16.5 million in its third quarter.
The Canton, Massachusetts-based company said it had a loss of 50 cents per share. Losses, adjusted for non-recurring costs and stock option expense, came to 25 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The specialty pharmaceutical company posted revenue of $70.2 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $75.4 million.
Collegium Pharmaceutical shares have declined 16 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.56, a climb of 55 percent in the last 12 months.