RTTNews | Aug 10, 2020 10:53AM EDT

10:52 Monday, August 10, 2020 (RTTNews.com) - Shares of Recro Pharma, Inc. (REPH) are down nearly 30% on Monday morning after the company's second-quarter results miss street estimates.

REPH is currently trading at $3.155, down $1.245 or 28.2955%, on the Nasdaq.

Recro reported a net loss of $6.0 million or $0.25 per share, compared to a net loss of $2.8 million or $0.12 per share last year.

Revenues for quarter more than halved to $15.5 million from $31.3 million last year, due to decreased product sales and royalties recognized from three of the company's commercial partners.

Analysts polled by Thomson Reuters estimated a loss of $0.16 per share on revenues of $18.88 million for the quarter.

Moving ahead, the company is withdrawing and suspending financial guidance primarily due to the difficulty of forecasting the impact of COVID-19.

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