Cara Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:01 pm EST
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Cara Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 4.87 million compared to USD 10.81 million a year ago. Net loss was USD 28.03 million compared to USD 23.18 million a year ago. Basic loss per share from continuing operations was USD 0.52 compared to USD 0.43 a year ago.
For the nine months, revenue was USD 17.96 million compared to USD 38.61 million a year ago. Net loss was USD 86.18 million compared to USD 55.14 million a year ago. Basic loss per share from continuing operations was USD 1.59 compared to USD 1.03 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. 
