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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.