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Cara Therapeutics Inc (NASDAQ:CARA) Records Progress With Pruritus Program In Q3 2017

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Cara Therapeutics Inc (NASDAQ:CARA) issued its financial report for the third quarter closed September 30, 2017. Derek Chalmers, Ph.D., D.Sc., the CEO and President, expressed that they are particularly delighted with the progress recorded in their pruritus program in Q3 2017, including successful completion of company’s end-of-Phase II talks with the FDA, supporting their plan to commence first pivotal Phase III efficacy study of I.V. CR845 targeting CKD-aP in hemodialysis patients in the United States by the close of 2017.

The highlights

The CEO of Cara added that they recently commenced a Phase I trial of Oral CR845 in subjects with Stage 3-V CKD which will inform design and dose selection of company’s planned Phase 2 study in this subject population for early in 2018. They consider that CR845 holds the potential to offer meaningful benefit to a range of people suffering from pruritus, including patients with different stages of CKD and those with chronic liver disease. Additionally, they continue towards full registration in the underway Phase 3 study with I.V. CR845 targeting acute post-operative pain in people undergoing abdominal surgery.

Cara posted a net loss of $12.4 million in the third quarter of 2017 versus a net loss of $11.5 million, in the comparable period of 2016. It did not record any revenue during Q3 2017 as well as in Q3 2016. R&D expenses came at $9.2 million in the reported quarter of 2017 versus $9.7 million in the comparable period of 2016. The lower R&D expenses were mainly due to a net drop in direct clinical study costs, partially offset by jump in personnel-related costs and stock-based compensation.

Cara posted G&A expenses of $3.8 million in Q3 2017 as against $2.1 million in the comparable period of 2016. The increased G&A expenses can be attributed to increases in personnel-related costs, professional fees and stock-based compensation.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.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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