Loading...
•
Sep 30, 2021
Tvardi Therapeutics Q3 2021 Earnings Report
Reported financial results and operational highlights for the third quarter ended September 30, 2021.
Key Takeaways
Cara Therapeutics reported a net loss of $1.0 million, or $0.02 per basic and diluted share, for the three months ended September 30, 2021. Revenues for the quarter were $20.3 million, primarily from license and milestone fees related to the regulatory approval of KORSUVA injection. The company's cash, cash equivalents, and marketable securities totaled $193.4 million as of September 30, 2021.
KORSUVA injection approved by the FDA as the first and only treatment for Chronic Kidney Disease-associated Pruritus (CKD-aP) in adult hemodialysis patients.
Christopher Posner appointed President and Chief Executive Officer effective November 9th, 2021.
Submitted documentation to CMS to secure reimbursement for KORSUVA injection, with commercial launch expected in the first half of 2022.
Plans to initiate Phase 3 programs with Oral Korsuva for the treatment of moderate to severe pruritus in both atopic dermatitis and non-dialysis dependent chronic kidney disease patients in the first quarter of 2022.
Forward Guidance
Cara expects that its existing unrestricted cash and cash equivalents and available-for-sale marketable securities as of September 30, 2021, including the milestone payments received in October 2021 of $65.0 million from Vifor and VFMCRP, will be sufficient to fund its currently anticipated operating expenses and capital expenditures through 2023, without giving effect to any additional potential milestone payments or potential product revenue under existing collaborations.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...