Cara Therapeutic Stock Price, News & Analysis

Cara Therapeutics, Inc. (Nasdaq: CARA), a biopharmaceutical company focused on treating pruritus, announced that CEO Christopher Posner will present at the 22nd Annual Needham Virtual Healthcare Conference on April 17, 2023, at 1:30 p.m. EDT. Investors can access the presentation via a webcast on the company’s website, where an archived version will be available for 30 days. Cara’s KORSUVA® (difelikefalin) injection is the first FDA-approved treatment for moderate-to-severe pruritus associated with chronic kidney disease in adults on hemodialysis. The company is also developing an oral formulation of difelikefalin and has ongoing Phase 3 programs for treating pruritus in patients with non-dialysis dependent advanced chronic kidney disease and atopic dermatitis, along with a Phase 2/3 program for notalgia paresthetica.

Cara Therapeutics (Nasdaq: CARA) has released its inaugural Environmental, Social, and Governance (ESG) report, outlining efforts in corporate governance, diversity, environmental stewardship, and community engagement. The report highlights a cross-functional ESG Group that reports to the Board, a gender-balanced leadership team with 33% workforce diversity, and initiatives aimed at reducing carbon footprint. Cara has also instituted a Day of Service for employee community engagement. CEO Christopher Posner emphasized the company's commitment to sustainability and transparency in its ongoing ESG efforts.

Cara Therapeutics reported a total revenue of $3.3 million for 4Q22, driven by $1.1 million in collaborative revenue from KORSUVA injection. The full year revenue was $41.9 million, including $16.6 million of collaborative revenue. The company launched KORSUVA in four EU countries and aims for more in 2023. They initiated a Phase 2/3 program for oral difelikefalin in 2023, while expecting a regulatory decision in Japan by 2H23. Despite a net loss of $30.3 million in 4Q22, they project sufficient funds to support operations through the first half of 2024.

Cara Therapeutics, Inc. (Nasdaq: CARA) announced a conference call on March 6, 2023, at 4:30 p.m. EST to discuss its fourth quarter and full year 2022 financial results along with a corporate update. The company is recognized for its KORSUVA® injection, the first FDA-approved treatment for pruritus associated with chronic kidney disease in adults undergoing hemodialysis. Cara is actively developing an oral formulation of difelikefalin and has begun Phase 3 trials for non-dialysis dependent advanced chronic kidney disease and atopic dermatitis. A Phase 2 trial for notalgia paresthetica was recently completed, with plans for a Phase 2/3 trial starting in Q1 2023.

Cara Therapeutics (Nasdaq: CARA) announces the publication of the KOMFORT Phase 2 trial results for oral difelikefalin in the New England Journal of Medicine. The trial involved 126 patients with moderate-to-severe pruritus from notalgia paresthetica, showing a significant reduction in itch severity compared to placebo (p=0.001). The results indicate that 41% of patients on difelikefalin achieved a ≥4-point improvement in itch scores. A registrational Phase 2/3 trial will commence, aiming to further evaluate the drug’s efficacy and safety. This development addresses a significant unmet need in treating this underrecognized condition.