Cara Q3 2023 Earnings Report
Key Takeaways
Cara Therapeutics reported Q3 2023 total revenue of $4.9 million, including collaborative revenue of $1.9 million from KORSUVA injection. The company's net loss was $28.0 million, or $(0.52) per share. A non-dilutive financing agreement with HealthCare Royalty for up to $40 million is expected to extend the cash runway into 2025.
Closed a non-dilutive financing transaction with HealthCare Royalty, extending cash runway into 2025.
KORSUVA injection generated net sales of $4.4 million and the company recorded collaborative revenue of $1.9 million.
Wholesalers shipped 90,828 vials of KORSUVA to dialysis centers, a 36% increase quarter over quarter.
Topline results from Part A of KIND 1 Phase 3 atopic dermatitis trial expected in December 2023.
Cara
Cara
Forward Guidance
Cara expects that our current unrestricted cash and cash equivalents and available-for-sale marketable securities, including the proceeds from our recently announced royalty financing and the collaborative revenue from our share of the profit from KORSUVA injection, will be sufficient to fund our currently anticipated operating plan into 2025.