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Dec 31, 2023
Tvardi Therapeutics Q4 2023 Earnings Report
Cara Therapeutics reported fourth quarter results with a net loss, announced the prioritization of clinical programs, and completed enrollment of KOURAGE 1 Part A.
Key Takeaways
Cara Therapeutics reported a net loss of $32.3 million for Q4 2023. The company is prioritizing its clinical programs to focus on late-stage development of oral difelikefalin for notalgia paresthetica (NP). Enrollment in KOURAGE 1 Part A was completed ahead of schedule, with topline efficacy and safety results expected in Q3 2024. The company's cash runway extends into 2026.
Prioritized clinical programs to focus on late-stage development of oral difelikefalin for notalgia paresthetica (NP).
Completed enrollment of KOURAGE 1 Part A portion of NP pivotal program ahead of schedule; topline efficacy and safety results now expected in 3Q24.
Extended cash runway into 2026 with clinical prioritization strategy and reduction in force.
KORSUVA injection generated net sales of $5.0 million and collaborative revenue of $2.3 million.
Forward Guidance
Cara expects that its current unrestricted cash and cash equivalents and available-for-sale marketable securities will be sufficient to fund its currently anticipated operating plan into 2026.
Positive Outlook
- Cash runway extends into 2026.
- Focus on late-stage development of oral difelikefalin for NP.
- Completed enrollment of KOURAGE 1 Part A ahead of schedule.
- Topline efficacy and safety results from KOURAGE 1 Part A expected in Q3 2024.
- Potential for oral difelikefalin in NP.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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