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Mar 31, 2024
Tvardi Therapeutics Q1 2024 Earnings Report
Reported financial results and operational highlights for the first quarter ended March 31, 2024.
Key Takeaways
Cara Therapeutics reported first quarter 2024 financial results, including net sales of KORSUVA injection of approximately $1.8 million and collaborative revenue of approximately $800,000. The company's net loss was $30.7 million, or $(0.56) per basic and diluted share. Cash, cash equivalents and marketable securities totaled $69.8 million at the end of the quarter.
Topline efficacy and safety results from KOURAGE 1 Part A portion of notalgia paresthetica (NP) pivotal program now expected by the end of 2Q24.
KORSUVA® (difelikefalin) injection generated net sales of approximately $1.8 million.
Company recorded collaborative revenue of approximately $800,000, which represented the Company’s share of the profit from sales of KORSUVA injection.
Net loss was $30.7 million, or $(0.56) per basic and diluted share.
Tvardi Therapeutics
Tvardi Therapeutics
Forward Guidance
Cara expects that their current unrestricted cash and cash equivalents and available-for-sale marketable securities will be sufficient to fund their currently anticipated operating plan into 2026. Our current operating plan assumes certain costs related to our planned pivotal trials in NP.
Positive Outlook
- Cash runway extends into 2026.
- Funding sufficient for planned pivotal trials in NP.