Business
Cara Therapeutics Reports Third Quarter 2023 Financial Results
– Non-dilutive financing agreement with HealthCare Royalty for up to $40 million expected to extend cash runway into 2025 – – Key data readouts for all three
About this update from Tvardi Therapeutics, Inc.
[{"type":"text","content":"– Non-dilutive financing agreement with HealthCare Royalty for up to $40 million expected to extend cash runway into 2025 – – Key data readouts for all three late-stage oral difelikefalin clinical programs anticipated within current financial runway – – Topline results from Part A of KIND 1 Phase 3 atopic dermatitis trial expected in December 2023 – – 3Q23 total revenue of $4.9M including collaborative revenue of $1.9M from the Company’s share of profit of KORSUVA® (difelikefalin) injection – – Conference call today at 4:30 p.m. EST – STAMFORD, Conn., Nov. 13, 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 third quarter ended September 30, 2023. “We are pleased to have closed our non-dilutive financing transaction with HealthCare Royalty, which extends our cash runway into 2025,” said Christopher Posner, President and Chief Executive Officer of Cara Therapeutics. “This financing will help us reach key clinical catalysts which we believe will validate the potential of our oral difelikefalin pipeline.” Mr. Posner continued, “We look forward to releasing topline efficacy and safety data from Part A of our KIND 1 atopic dermatitis (AD) trial in December. Our other two late-stage clinical programs for the treatment of pruritus associated with advanced chronic kidney disease (CKD) and notalgia paresthetica (NP) are on track for key data readouts in 2024. We will continue to focus on maintaining a strong balance sheet and delivering on our commitments across our wholly owned pipeline.” 3Q23 and Recent Highlights Entered into Royalty Interest Purchase and Sale Agreement with HealthCare Royalty (HCRx) for up to $40 million, extending Cara’s cash runway into 2025Topline efficacy and safety data from Part A of the KIND 1 Phase 3 program in pruritus associated with AD expected in December 2023Enrollment on track in the KICK Phase 3 program in pruritus associated with advanced CKD, with topline results expected in 2H24Enrollment also on track in the KOURAGE Phase 2/3 program in NP, with readout from Part A targeted in 2H24 and final topline results for the program in 1H26Findings from the Neuropathic Itch Patient Survey (N...