Cara Q1 2023 Earnings Report
Key Takeaways
Cara Therapeutics reported Q1 2023 financial results, featuring $6.2 million in total revenue, including $2.8 million from KORSUVA injection sales. The company's net loss was $26.7 million, or $(0.49) per share. Vial orders for KORSUVA injection more than doubled quarter-over-quarter, indicating increased demand. The company expects its cash to fund operations into the second half of 2024.
Total revenue for Q1 2023 was $6.2 million, including $2.8 million from collaborative revenue related to KORSUVA injection.
KORSUVA injection net sales were $5.7 million, with vial orders more than doubling quarter-over-quarter.
Kapruvia generated $1.2 million in net sales and $125,000 in royalty revenue in Europe.
Net loss for Q1 2023 was $26.7 million, or $(0.49) per share.
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Forward Guidance
Cara Therapeutics expects that its current unrestricted cash and cash equivalents and available-for-sale marketable securities, including collaborative revenue from its share of the profit from KORSUVA injection, will be sufficient to fund its currently anticipated operating plan into the second half of 2024.