Business
Cara Therapeutics Reports Second Quarter 2023 Financial Results
– 2Q23 total revenue of $6.9M including collaborative revenue of $5.4M from the Company’s share of profit of KORSUVA® (difelikefalin) injection – – Demand for
About this update from Tvardi Therapeutics, Inc.
[{"type":"text","content":"– 2Q23 total revenue of $6.9M including collaborative revenue of $5.4M from the Company’s share of profit of KORSUVA® (difelikefalin) injection – – Demand for KORSUVA injection accelerating with 46% increase in vial orders quarter to quarter – – 2024 ESRD PPS proposed rule suggests additional funding for TDAPA-designated products in existing functional category; final rule expected in 4Q23 – – Three late-stage oral difelikefalin clinical programs tracking to plan; Internal readout of Part A of KIND 1 atopic dermatitis trial expected in 4Q23 – – Conference call today at 4:30 p.m. EDT – STAMFORD, Conn., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Cara Therapeutics, Inc. (Nasdaq: CARA), a commercial-stage biopharmaceutical company leading a new treatment paradigm to improve the lives of patients suffering from pruritus, today announced financial results and operational highlights for the second quarter ended June 30, 2023. “In the second quarter of 2023, the commercialization of KORSUVA® (difelikefalin) injection in the U.S. and Kapruvia® in countries around the world continued to make meaningful progress. We believe the increased vial shipments and reorder rates in the U.S., as well as the positive feedback from providers and patients globally, confirm the significant need for an anti-pruritic treatment for chronic kidney disease (CKD) patients,” said Christopher Posner, President and Chief Executive Officer of Cara Therapeutics. “In June, CMS issued the CY2024 ESRD PPS proposed rule, providing clarity around the reimbursement of KORSUVA injection post its TDAPA period. While we were pleased that CMS included additional funding outside the bundle rate in the proposed rule, we will continue to work with CMS on refining the reimbursement methodology ahead of the release of the final rule, which is expected in the fourth quarter of 2023.” Mr. Posner continued, “On the development front, we are pleased with the progress of our late-stage oral difelikefalin programs for pruritus associated with atopic dermatitis (AD), advanced CKD and notalgia paresthetica (NP). All three trials are enrolling patients and the internal readout from Part A of our KIND Phase 3 program in AD is expected in the fourth quarter of 2023. As the key driver of our long-term value, we are focused on advancing the development of oral difelikefalin in our nephrology and medi...