Cara Therapeutics, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 04, 2024 at 04:11 pm EST
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Cara Therapeutics, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 3 million compared to USD 3.26 million a year ago. Net loss was USD 32.34 million compared to USD 30.34 million a year ago. Basic loss per share from continuing operations was USD 0.59 compared to USD 0.56 a year ago.
For the full year, revenue was USD 20.97 million compared to USD 41.87 million a year ago. Net loss was USD 118.51 million compared to USD 85.47 million a year ago. Basic loss per share from continuing operations was USD 2.19 compared to USD 1.59 a year ago.
Cara Therapeutics, Inc. is a development-stage biopharmaceutical company. The Company is focused on treatment paradigm to improve the lives of patients suffering from chronic pruritus. It is developing an oral formulation of difelikefalin, a selective, predominantly peripherally acting, non-scheduled Kappa opioid receptor agonist, for the treatment of chronic neuropathic pruritus associated with Notalgia Paresthetica (NP), a common, underdiagnosed neuropathy affecting the upper back. It is conducting Phase II/III Clinical Program in NP. The program is comprised of two studies - KOURAGE 1 and KOURAGE 2, which are double-blind, placebo-controlled, eight-week studies with patients allowed to roll-over into open-label 52-week extensions. It has developed an IV formulation of difelikefalin, for the treatment of moderate-to-severe pruritus associated with advanced chronic kidney disease in adults undergoing hemodialysis. The IV formulation is out-licensed worldwide.
CARA THERAPEUTICS, INC. 
