Cara Q1 2020 Earnings Report
Key Takeaways
Cara Therapeutics reported a net loss of $28.9 million and total revenue of $8.1 million for the first quarter of 2020. The company is on track to submit an NDA to the FDA for KORSUVA Injection in the second half of 2020.
Announced positive top-line results from its KALM-2 global pivotal Phase 3 trial of KORSUVA Injection in hemodialysis patients with moderate-to-severe CKD-aP.
Trial met the primary endpoint, with a statistically significant proportion of patients on KORSUVA Injection achieving a three-point or greater improvement in the weekly mean Worst Itching Intensity Numeric Rating Scale (NRS) versus placebo (p=0.02) at week 12.
The Company remains on track to submit an NDA to the U.S. Food and Drug Administration (FDA) for KORSUVA Injection in the second half of 2020.
The Company remains on track to conduct an End of Phase 2 Meeting with the FDA to enable initiation of a Phase 3 program in the second half of 2020.
Cara
Cara
Cara Revenue by Segment
Forward Guidance
Cara expects that its existing cash and cash equivalents and available-for-sale marketable securities as of March 31, 2020 will be sufficient to fund its currently anticipated operating expenses and capital expenditures into the second half of 2021.