Cara Therapeutics Inc (NASDAQ: CARA) is off to an overwhelmingly strong day in the market today, and for good reason. The company released results from a Phase 1 clinical trial, and those results proved to be overwhelmingly promising. As a result, investor excitement ensued, leading to gains in the stock and prompting our partners at Trade Ideas to alert us to the movement. At the moment (9:31), CARA is trading at $14.19 per share after a gain of $1.63 per share (12.98%) thus far today.
CARA Gains On Clinical Data
As mentioned above, Cara Therapeutics is having an overwhelmingly strong day in the market today after releasing Phase 1 clinical data. The data surrounded the Phase 1 safety and pharmacokinetic trial of Oral CR845, a treatment designed for patients with chronic kidney disease that are undergoing hemodialysis.
According to the release by the company, the Phase 1 clinical results show that all four tablet strengths were generally well-tolerated when administered either daily or after dialysis three times per week. It was also announced that on the pharmacokinetic side, top-line data analysis indicated that plasma levels of CR845 attained after oral administration in all doses were comparable to or exceeded those reached with clinically efficacious intravenous doses of CR845. In a statement, Frederique Menzaghi, Ph.D., Vice President of Research and Development at CARA, had the following to offer:
“We are pleased to establish that plasma levels of CR845 attained with oral tablets equaled or exceeded plasma levels previously associated with clinically efficacious I.V. CR845 doses in hemodialysis patients with moderate-to-severe CKD-associated pruritus…. These data will inform the design of our planned Oral CR845 pruritus clinical program in the non-dialysis CKD-ap population, which we aim to initiate later this year.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CARA. In particular, we’re interested in following the ongoing work the company is doing with regard to CR845 and excited to see the results of future clinical trials. We’ll continue to follow the story closely and bring the news to you as it breaks!
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