Cara Q3 2022 Earnings Report
Key Takeaways
Cara Therapeutics reported a net revenue of $16.2 million for Q3 2022, which included $7.4 million in profit-sharing revenue from KORSUVA injection. The company's net loss was $23.2 million, or $(0.43) per basic and diluted share. The company is focused on maximizing the potential of its nephrology and dermatology franchises.
Net revenue was $16.2 million for Q3 2022, including profit-sharing revenue of $7.4 million from KORSUVA injection.
Strong demand for KORSUVA injection was driven by large dialysis organizations, with approximately 180,000 vials shipped.
The FDA meeting is scheduled in Q4 2022 to discuss a potential pivotal program in notalgia paresthetica.
Partner in Japan submitted a New Drug Application for the approval of difelikefalin injection, with a decision expected in the second half of 2023.
Cara
Cara
Forward Guidance
Cara Therapeutics expects its current unrestricted cash and cash equivalents and available-for-sale marketable securities will be sufficient to fund its currently anticipated operating plan into the first half of 2024. This guidance assumes KORSUVA revenue profit share contribution consistent with what the Company has reported for the quarter ended September 30, 2022.