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Sep 30, 2020
Tvardi Therapeutics Q3 2020 Earnings Report
Cara Therapeutics reported financial results for the third quarter of 2020 and provided operational highlights.
Key Takeaways
Cara Therapeutics reported a net loss of $16.5 million, or $0.35 per share, for the third quarter of 2020, compared to a net loss of $32.8 million, or $0.74 per share, for the same period of 2019. Total revenue was $9.3 million for the three months ended September 30, 2020, compared to $5.8 million during the same period of 2019.
Made significant advancements in clinical development programs for KORSUVA Injection and Oral KORSUVA.
On track to submit an NDA to the FDA for KORSUVA Injection in the fourth quarter.
Entered into a commercial license agreement with Vifor for KORSUVA Injection in the U.S. dialysis market.
Anticipate significant progress for Oral KORSUVA programs, including an End of Phase 2 Meeting with the FDA for CKD-aP non-hemodialysis patients in early 2021.
Forward Guidance
Cara expects that its existing unrestricted cash and cash equivalents and available-for-sale marketable securities as of September 30, 2020, with the additional funding of $150.0 million from the license agreement with Vifor in October 2020, will be sufficient to fund its currently anticipated operating expenses and capital expenditures into 2023, without giving effect to any potential milestone payments under existing collaborations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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