Cara Q4 2021 Earnings Report
Key Takeaways
Cara Therapeutics reported fourth-quarter financial results, with a net loss of $33.4 million, or $(0.63) per basic and diluted share, and total revenue of $0.8 million. The company is preparing for the U.S. commercial launch of KORSUVA injection in April 2022 and advancing its Oral KORSUVA platform in multiple pruritus indications.
KORSUVA injection U.S. commercial launch is on track for April 2022.
Phase 3 programs for Oral KORSUVA in non-dialysis dependent advanced chronic kidney disease and atopic dermatitis are expected to start in 1Q 2022.
Christopher Posner was appointed as President and Chief Executive Officer in November 2021.
The U.S. Centers for Medicare & Medicaid Services granted Transitional Drug Add-On Payment Adjustment to KORSUVA injection in December 2021.
Cara
Cara
Forward Guidance
Cara expects that its existing unrestricted cash and cash equivalents and available-for-sale marketable securities as of December 31, 2021 will be sufficient to fund its currently anticipated operating expenses and capital requirements through 2023, without giving effect to any potential milestone payments under existing collaborations or product revenue from the commercialization of KORSUVA injection.