Cara Therapeutics Inc (NASDAQ: CARA)
Cara Therapeutics is having a strong time in the pre-market hours this morning, and for good reason. The company released top-line data from Part A of a key clinical study, leading to investor excitement. Of course, that investor excitement pushed the stock up, prompting our partners at Trade Ideas to send the alert. At the moment (9:14), CARA is trading at $20.69 per share after a gain of $2.54 per share (13.99%) thus far today.
CARA Announces Positive Clinical Data
As mentioned above, Cara Therapeutics is having an overwhelmingly strong start to the trading session in the pre-market hours today. This is the result of positive top-line data that was released. The data came from Part A of its Phase 2/3 clinical study looking into I.V. CR845 as a treatment for itching and improved quality of life in patients with uremic puritus. The company announced that it met both its primary and secondary endpoints with regard to the study, showing significant improvements in both itching and quality of life. This is great news, as there is no approved therapy for this condition in the United States to date. In a statement, Derek Chalmers, Ph.D., D.Sc., President and CEO at CARA, had the following to offer:
“We are extremely pleased with these results, where I.V. CR845 demonstrated sustained clinical and quality of life benefits in dialysis patients suffering from UP and supports the viability of this therapeutic approach for the long-term treatment of this unmet medical need. As a next step, we plan to meet with the FDA to finalize the trial design of Part B of this Phase 2/3 study and to initiate patient recruitment later this year.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to watch CARA incredibly closely. In particular, we’re looking forward to the company’s continued work with I.V. CR845, considering the fact that there are no approved treatments in the United States quite yet. We’ll continue to follow the story closely and bring you the news as it breaks!
What Do You Think?
Where do you think CARA is headed moving forward? Join the discussion in the comments below!
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