Welcome to our dedicated page for Cara Therapeutic news (Ticker: CARA), a resource for investors and traders seeking the latest updates and insights on Cara Therapeutic stock.
Cara Therapeutics, Inc. (CARA) is a biopharmaceutical company whose public communications focus on pruritus, or chronic itch, and on the development and commercialization of difelikefalin-based therapies. News about Cara Therapeutics often centers on its clinical programs, commercial collaborations, and corporate actions that affect shareholders.
Company press releases describe the development of an IV formulation of difelikefalin, which is approved in the United States, European Union, and multiple other countries for moderate-to-severe pruritus associated with advanced chronic kidney disease in adults undergoing hemodialysis, with this IV formulation out-licensed worldwide. News items also discuss the company’s efforts to develop an oral formulation of difelikefalin for chronic pruritus associated with notalgia paresthetica, including details of the Phase 2/3 KOURAGE clinical program and the outcome of the KOURAGE-1 Part A study.
Investors following CARA-related news will see updates on clinical trial enrollment and readouts, such as announcements that oral difelikefalin did not demonstrate a meaningful clinical benefit compared to placebo in notalgia paresthetica and the resulting decision to discontinue that program. News releases also cover financial results, revenue from KORSUVA injection and related collaborations, and information about royalty and milestone arrangements.
Cara Therapeutics’ news flow additionally includes corporate and capital structure developments, such as reverse stock splits, plans to regain compliance with Nasdaq listing requirements, exploration of strategic alternatives, and a proposed merger with Tvardi Therapeutics, Inc. The company has announced a 1-for-12 reverse stock split and a later 1-for-3 reverse stock split in connection with the proposed merger, with expectations regarding a transition to a new company name and ticker symbol after the anticipated closing of that merger.
This news page allows readers to review these types of updates in one place, including clinical, commercial, financial, and corporate announcements related to Cara Therapeutics and the historical CARA ticker.
Cara Therapeutics (CARA) has announced a 1-for-3 reverse stock split in connection with its upcoming merger with Tvardi Therapeutics. The split will take effect on April 15, 2025, at 4:01 p.m. Eastern Time, with split-adjusted trading beginning April 16, 2025.
Following the split, the company will be renamed to Tvardi Therapeutics, Inc. and will trade under the new symbol TVRD. The reverse split will reduce CARA's outstanding shares from approximately 4.6 million to 1.5 million shares. After the merger completion, the combined company is expected to have approximately 9.4 million shares outstanding.
The split was approved by stockholders on April 1, 2025. Stockholders will receive cash payments for any fractional shares, and proportionate adjustments will be made to outstanding stock options and equity incentive plans.
Cara Therapeutics (CARA) announced a 1-for-12 reverse stock split effective December 30, 2024, at 5:00 p.m. Eastern Time. Trading on the split-adjusted basis will begin December 31, 2024. The company's authorized shares will reduce from 200,000,000 to 16,666,667, while outstanding shares will decrease from approximately 54.9 million to 4.6 million.
The reverse split aims to regain compliance with Nasdaq Capital Market's minimum bid price requirement. The split will uniformly affect all stockholders, maintaining their relative equity interests except for fractional shares, which will be settled in cash. Proportionate adjustments will be made to outstanding stock options and equity incentive plans.
Cara Therapeutics has announced the engagement of Piper Sandler & Co. to explore strategic alternatives with the aim of maximizing shareholder value.
The company’s Board of Directors has approved a new operating plan focused on cost-containment and cash conservation.
There are no assurances that this exploration will result in any agreements or transactions.
As of March 31, 2024, Cara Therapeutics held approximately $70 million in cash, cash equivalents, and marketable securities.
Cara Therapeutics announced disappointing results from Part A of their KOURAGE-1 study, evaluating oral difelikefalin for notalgia paresthetica (NP). The drug did not show meaningful clinical benefit over placebo at any dose, leading the company to discontinue the clinical program in NP. The Phase 2/3 trial involved 214 patients, and despite the drug's safety profile being consistent with prior trials, it did not achieve the primary endpoint of a ≥4-point improvement in the Itch-Numeric Rating Scale. Cara Therapeutics will now explore strategic alternatives to maximize shareholder value.
Cara Therapeutics (Nasdaq: CARA) reported its Q1 2024 results. Net sales from KORSUVA injections totaled $1.8 million, with collaborative revenue contributing $800,000. However, total revenue decreased to $2.1 million from $6.2 million YoY. The company’s net loss widened to $30.7 million from $26.7 million in Q1 2023. Cash balance dropped to $69.8 million from $100.8 million in December 2023, largely due to $30.5 million used in operations. R&D expenses decreased to $22 million, but restructuring expenses added $2.4 million. The KOURAGE 1 Part A study for NP is progressing ahead of schedule, with results expected by the end of Q2 2024. Cara’s financial guidance indicates sufficient cash to fund operations into 2026.
Cara Therapeutics, a biopharmaceutical company, will announce its first quarter 2024 financial results on May 13, 2024. The company focuses on developing treatments for pruritus to enhance patient lives. The press release will be accessible on the company's website.
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