Business
Cara Therapeutics Reports Third Quarter 2022 Financial Results
– Net revenue was $16.2M for 3Q22 including profit-sharing revenue of $7.4M from KORSUVA® (difelikefalin) injection – – Strong demand for KORSUVA injection
About this update from Tvardi Therapeutics, Inc.
[{"type":"text","content":"– Net revenue was $16.2M for 3Q22 including profit-sharing revenue of $7.4M from KORSUVA® (difelikefalin) injection – – Strong demand for KORSUVA injection driven by large dialysis organizations with ~180,000 vials shipped – – FDA meeting scheduled in 4Q22 to discuss potential pivotal program in notalgia paresthetica – – Conference call today at 4:30 p.m. ET – STAMFORD, Conn., Nov. 07, 2022 (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 third quarter ended September 30, 2022. “Demand for KORSUVA® (difelikefalin) injection in the U.S. accelerated in the third quarter, reflecting the strong launch performance and our product’s value proposition for chronic kidney disease (CKD) patients undergoing hemodialysis who are suffering from pruritus,” said Christopher Posner, President and Chief Executive Officer of Cara Therapeutics. “Positive momentum has also been building internationally with the European launches in Austria and Germany, as well as approvals in Canada, Singapore and Switzerland during the third quarter. In addition, we are pleased that our partner in Japan has submitted a New Drug Application for the approval of difelikefalin injection, with a decision expected in the second half of 2023.” Mr. Posner continued, “On the clinical development front, we continue to enroll patients in our two Phase 3 oral difelikefalin programs. We also look forward to our meeting with the FDA to discuss a potential pivotal program in notalgia paresthetica. As a result of slow enrollment due primarily to Covid-19, we made the strategic decision to discontinue our proof-of-concept Phase 2 study in pruritus associated with primary biliary cholangitis (PBC). Although we did not observe anything in this study that would preclude us from moving forward in this indication, we plan to focus our resources on maximizing the potential of our promising nephrology and dermatology franchises. With the strong traction we achieved during the third quarter, we believe we are well positioned to drive long-term growth and establish Cara Therapeutics as the leader in the treatment of chronic pruritus.” Third Quarter and Recent Developments: KORS...