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Cara Therapeutics Inc (NASDAQ:CARA) Closes In Red

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In the last trading session, the stock price of Cara Therapeutics Inc (NASDAQ:CARA) declined more than 1% to close the day at $12.60. The decline came at a share volume of 658,379 compared to average share volume of 807,744. A new study performed by experts at the University of New Mexico, involving prescription opioid and medical cannabis use among people suffering with chronic pain, showed a distinct link between having the legal knack to use cannabis and major reductions in opioid use.

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Cannabinoids seen in the marijuana crop, cannabidiol is the phyto-cannabinoid with probably the greatest potential for advancement as a therapeutic plan for substance use disorders. In an article by experts at Mt. Sinai School of Medicine indicates to animal models that put forward CBD, found in cannabis, might lower opioid-seeking behavior and withdrawal symptoms. Active in the markets include Perrigo Company PLC (NYSE:PRGO), VERITAS PHARMA ORD (OTCMKTS:VRTHF), and Cara, to name a few.

Cara Therapeutics closed down slightly on Tuesday at $12.60. The company is a clinical-stage biopharmaceutical entity with its main focus on advancing and commercializing state-of-the-art chemical entities intended to alleviate pruritus and pain by selectively targeting peripheral KORs. It is developing a proprietary and novel class of offerings, led by CR845. The candidate has shown initial efficacy in people with moderate-to-severe pain, without resulting several of the undesirable side effects usually associated with presently available opioid pain therapeutics in the market.

Veritas Pharma reported that its research unit, Cannevert Therapeutics Ltd. has finalized a letter of intent with the FDI in San Juan, to conduct the preliminary human study of CTL-X, its major cannabis strain targeting pain. The trial will be performed in two stages to evaluate the analgesic effects of the lead strain. The initial stage will constitute an open label design to assess the feasibility of two doses of “CTL-X” in five subjects while the next stage will use a double-blind, randomized, crossover design to evaluate one dose of CTL-X versus a placebo control strain in sixteen people who will be exposed to different modalities of acute pain.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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