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Cara Therapeutics, Inc. (Nasdaq: CARA) is a pioneering biotechnology company focused on developing innovative treatments for pain, inflammation, and pruritus (itching). The company aims to address unmet medical needs with its proprietary therapeutic approaches and cutting-edge drug screening technology. Cara's flagship compound, CR845, is undergoing clinical trials for acute pain and uremic pruritus, demonstrating analgesic, anti-inflammatory, and antipruritic properties that could serve multiple therapeutic purposes.
Cara Therapeutics has recently made significant strides in its clinical programs. Despite the discontinuation of its clinical trial for pruritus associated with atopic dermatitis, the company remains optimistic about other late-stage clinical programs involving oral difelikefalin for indications such as notalgia paresthetica and chronic kidney disease. The company is also collaborating with HealthCare Royalty to secure financial backing and support for its ongoing and future developments.
Financially, Cara expects to end 2023 with approximately $100 million in cash, bolstered by milestone payments from HealthCare Royalty and efficient management of expenses. The company continues to focus on its goal of bringing first-in-class therapeutics to market, leveraging its proprietary drug-screening technology to expand its pipeline of innovative molecules targeting novel analgesic and anti-inflammatory pathways.
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 Investors can access the presentation via a webcast on the company’s website, where an archived version will be available for 30 days.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.
Cara Therapeutics has announced an upcoming Capital Markets Day scheduled for February 16, 2023, in New York City, focusing on its new treatment for pruritus. The event will cover the launch of KORSUVA® (difelikefalin) injection, highlighting its role in addressing pruritus related to chronic kidney disease and other conditions. Key presentations will include insights into the unmet medical needs and the ongoing Phase 2/3 trials of oral difelikefalin for notalgia paresthetica. Attendees can register online, and a live webcast will be available on the company’s website.
Cara Therapeutics (Nasdaq: CARA) announced that Christopher Posner, CEO, will present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 11:15 a.m. PST. The presentation will provide an overview of the company's innovative approach to treating pruritus. Cara's KORSUVA® (difelikefalin) injection is the first FDA-approved treatment for moderate-to-severe pruritus in chronic kidney disease patients on hemodialysis. A webcast will be available on the company's website and archived for 30 days.
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