Cara Therapeutics, Inc. (CARA - Free Report) shares gained 10% in late morning trading following the recent evaluation of its trial for Cr845. The trial will continue under the guidance of the Independent Data Monitoring Committee.
Cara, a biopharmaceutical company that focuses on developing chemical entities to alleviate pain and pruritus, announced the continuation of its phase 3 trial of I.V. Cr845 following an interim assessment. Patients participating in the trial received 2 doses of Cr845. Cara reports that both doses have been well tolerated in more than 1200 subjects to date.
Cara developed Cr845, a kappa opioid receptor agonist, to treat acute and chronic pain following abdominal surgery. The trial measures the change in pain intensity over the 24-hour period following the surgery based on the patient-reported Numeric Rating Scale (NRS) score.
Because the trials are continuing, the study appears to not have reached the primary endpoint yet.
At first, investors appeared to be disappointed with the news. Cara shares declined 4% during pre-market trading. However, the company’s stock has since rallied to $19.41 per share, the highest level it has been since March 2017.
The trial will continue to test 2 doses of Cr845 versus placebo in up to 450 patients undergoing abdominal surgery at 30 clinical sites throughout the U.S. Cara expects this trial to be completed in the fourth quarter of 2017.
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Cara Therapeutics, Inc. (CARA - Free Report) shares gained 10% in late morning trading following the recent evaluation of its trial for Cr845. The trial will continue under the guidance of the Independent Data Monitoring Committee.
Cara, a biopharmaceutical company that focuses on developing chemical entities to alleviate pain and pruritus, announced the continuation of its phase 3 trial of I.V. Cr845 following an interim assessment. Patients participating in the trial received 2 doses of Cr845. Cara reports that both doses have been well tolerated in more than 1200 subjects to date.
Cara developed Cr845, a kappa opioid receptor agonist, to treat acute and chronic pain following abdominal surgery. The trial measures the change in pain intensity over the 24-hour period following the surgery based on the patient-reported Numeric Rating Scale (NRS) score.
Because the trials are continuing, the study appears to not have reached the primary endpoint yet.
At first, investors appeared to be disappointed with the news. Cara shares declined 4% during pre-market trading. However, the company’s stock has since rallied to $19.41 per share, the highest level it has been since March 2017.
The trial will continue to test 2 doses of Cr845 versus placebo in up to 450 patients undergoing abdominal surgery at 30 clinical sites throughout the U.S. Cara expects this trial to be completed in the fourth quarter of 2017.
Zacks’ Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but chosen members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting today, and for the next month, you can follow all Zacks’ private buys and sells in real time. Our experts cover all kinds of trades: value, momentum, ETFs, stocks under $10, stocks that corporate insiders are buying up, and companies that are about to report positive earnings surprises. You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks’ secret trades>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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