WATERTOWN, Mass. (AP) _ Kala Pharmaceuticals Inc. (KALA) on Wednesday reported a loss of $30.4 million in its first quarter.

On a per-share basis, the Watertown, Massachusetts-based company said it had a loss of 49 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 51 cents per share.

The biopharmaceutical company posted revenue of $3.3 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $3.6 million.

Kala Pharma shares have declined roughly 5% since the beginning of the year. The stock has decreased 39% in the last 12 months.

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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