Cara Therapeutics Inc (NASDAQ: CARA) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced top-line data from a Phase 2/3 clinical trial. Of course, the data proved to be positive, exciting investors, who are pushing the stock for the top. Today, we’ll talk about:
- The clinical results;
- what we’re seeing from CARA as a result; and
- what we’ll be watching for ahead.
CARA Announces Positive Data
As mentioned above, Cara Therapeutics is having an overwhelmingly strong start to the trading session this morning after announcing positive clinical data. In a press release issued early this morning, the company announced positive top-line data from the adaptive Phase 2/3 trial. During the trial, the company assessed the use of CR845 as a treatment in patients undergoing abdominal surgeries.
In the release, CARA said that, at the 1.0 mcg/kg dose, the treatment demonstrated statistically significant reductions in pain intensity when compared to placebo at all pre-specified post-operative periods. Also, the treatment resulted in statistically significant reductions in the incidence of postoperative nausea and vomiting over a 24-hour period for both doses. In a statement, Derek Chalmers, Ph.D., D.Sc., President and CEO at CARA, had the following to offer:
We are very pleased that these data demonstrate the overall benefit of I.V. CR845 in both providing pain relief across surgery types up to 24 hours post-surgery and reducing post-operative nausea and vomiting, a significant medical need in the post-operative setting…As there continues to be a critical need for new post-surgical analgesics like I.V. CR845 that lack abuse potential and traditional mu opioid side effects, we will be assessing all options, including discussions with regulators, as to how to best move this program forward.
The above statement was followed up by Sabry Ayad, M.D., Professor of Anesthesiology at the Anesthesiology Institute within the Cleveland Clinic. Dr. Ayad was also one of the study’s investigators. Here’s what he had to offer:
The current practice of perioperative pain management anchored around traditional opioids often results in frequent opioid-related adverse events, such as nausea and vomiting, which can be debilitating and delay patients’ post-surgical recovery… The ability of I.V. CR845, under standard of care conditions in the present trial, to provide not only additional pain relief but also a considerable decrease in the incidence and degree of post-operative nausea and vomiting underscores the potential of I.V. CR845 to provide meaningful clinical benefit in the immediate post-operative recovery period.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of Cara Therapeutics, the news proved to be overwhelmingly positive. After all, the strong clinical data shows that the company’s candidate, CR845, is progressing smoothly. So, it’s no surprise that excited investors have the stock on a run for the top this morning. At the moment (8:20), CARA is trading at $21.90 per share after a gain of $5.46 per share (33.21%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CARA. In particular, we’re interested in following the story surrounding CR845, as the treatment seems to be showing incredible promise. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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