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 has entered a licensing agreement with Vifor Pharma for the commercialization of IV Korsuva in non-Fresenius Medical Care dialysis clinics, covering approximately 66% of the U.S. market. Cara will receive an upfront payment of $100 million and a $50 million equity investment, along with potential milestone payments totaling up to $290 million. The NDA submission for IV Korsuva is expected in Q4 2020. This partnership allows Cara to concentrate on its clinical programs for Oral Korsuva, addressing significant unmet medical needs in chronic kidney disease-associated pruritus.
Cara Therapeutics (Nasdaq: CARA) has appointed Thomas Reilly as its new Chief Financial Officer, effective October 1, 2020. Reilly joins from Allergan, where he managed the U.S. General Medicine Commercial Business. His extensive biopharmaceutical experience is expected to support the advancement of KORSUVA Injection towards its NDA filing. KORSUVA aims to treat pruritus in chronic kidney disease patients and has shown promising results in clinical trials. The company is poised for growth as it transitions into a commercial-stage organization.
Cara Therapeutics reported a net loss of $25.1 million, or $0.54 per share, for Q2 2020, up from a loss of $23.0 million in Q2 2019. Revenue rose to $5.6 million, driven by milestones from partnerships, while R&D expenses increased to $26.1 million. The company advanced clinical trials for KORSUVA Injection and Oral KORSUVA, with plans to submit a New Drug Application to the FDA in Q4 2020. Cash and cash equivalents stood at $153 million, sufficient to fund operations into 2021. A conference call is scheduled for today at 4:30 p.m. ET.
Cara Therapeutics, Inc. (Nasdaq: CARA) announced that CEO Derek Chalmers will participate in a fireside chat at the Canaccord Genuity 40th Annual Growth Conference on August 13, 2020, at 8:00 a.m. ET. The event will be accessible via a live webcast on the company's website, with an archived recording available for 30 days. Cara is focused on developing new chemical entities for pruritus treatment, particularly KORSUVA (CR845/difelikefalin), which has shown promise in clinical trials for patients with chronic kidney disease-associated pruritus.
Cara Therapeutics, a biopharmaceutical company focused on alleviating pruritus by targeting kappa opioid receptors, will hold a conference call on August 10, 2020, at 4:30 p.m. ET to discuss its second quarter 2020 financial results and provide a corporate update. The company is developing KORSUVA™, a KOR agonist, which has shown promising results in reducing itch intensity in clinical trials for chronic kidney disease-associated pruritus. The FDA has conditionally accepted KORSUVA as the trade name for difelikefalin injection.
Cara Therapeutics (NASDAQ: CARA) has appointed Susan Shiff, Ph.D., M.B.A., to its Board of Directors. Shiff, currently Senior VP at Merck, brings over 20 years of experience in health economics and market access. She joins as the company aims to transition into a commercial organization and plans to file its first New Drug Application (NDA) later this year. Dr. Shiff's expertise will support CARA's KORSUVA product pipeline, focused on treating pruritus, particularly in chronic kidney disease patients.
Cara Therapeutics (Nasdaq: CARA), a biopharmaceutical company, announced that Derek Chalmers, Ph.D., President and CEO, will participate in a fireside chat at the Jefferies Virtual Healthcare Conference on June 3, 2020, at 11:00 a.m. ET. A live webcast of the event will be available in the Company's News & Investors section on their website. Cara Therapeutics specializes in developing treatments for pruritus by targeting peripheral kappa opioid receptors, with their product KORSUVA™ showing promise in treating chronic kidney disease-associated pruritus.
On May 11, 2020, Cara Therapeutics (CARA) reported its Q1 financial outcomes, highlighting a net loss of $28.9 million, or $0.62 per share, an increase from a loss of $22 million in Q1 2019. Revenue surged to $8.1 million, up from $4.4 million year-over-year, primarily driven by license and milestone fees. The company celebrated positive results from its KALM-2 Phase 3 trial of KORSUVA Injection for chronic kidney disease-associated pruritus. Cara aims to submit a New Drug Application for KORSUVA in H2 2020, despite challenges presented by the COVID-19 pandemic.
Cara Therapeutics (Nasdaq: CARA) announced that its President and CEO, Derek Chalmers, and Chief Medical Officer, Joana Goncalves, will participate in a fireside chat at the virtual BofA Securities 2020 Health Care Conference on May 14, 2020, at 9:00 a.m. ET. The event will focus on the company’s innovative treatments targeting peripheral kappa opioid receptors to alleviate pruritus. A live webcast will be available on the company's website under 'Events & Presentations', with an archived recording accessible for 30 days.
Cara Therapeutics (Nasdaq: CARA) announced a conference call on May 11, 2020, at 4:30 p.m. ET to discuss Q1 2020 financial results and provide a corporate update. The company focuses on developing treatments that alleviate pruritus by targeting peripheral kappa opioid receptors. Its lead candidate, KORSUVA™ (CR845/difelikefalin), has shown significant efficacy in Phase 3 trials for patients with chronic kidney disease-associated pruritus. The FDA has conditionally accepted KORSUVA as the trade name for difelikefalin injection.