Cara Therapeutics, Inc. (CARA) Bundle
A Brief History of Cara Therapeutics, Inc. (CARA)
Company Overview
Cara Therapeutics, Inc., founded in 2004, is a biopharmaceutical company focused on developing and commercializing novel therapeutics to treat pain and pruritus by targeting the body's kappa opioid receptors. The company's headquarters is located in Shelton, Connecticut.
Key Milestones
- 2004: Cara Therapeutics is founded by Dr. Derek Chalmers, focusing on new pain therapies.
- 2014: Cara goes public, raising approximately $50 million in its initial public offering (IPO).
- 2018: The FDA approves the company's lead product, KORSUVA (difelikefalin), for the treatment of pruritus associated with chronic kidney disease.
- 2020: Cara reports revenues of $29.8 million, primarily from KORSUVA sales and development collaborations.
- 2021: The company expands its pipeline with new formulations of difelikefalin for use in acute pain management.
Financial Performance
| Year | Revenue ($ Millions) | Net Income ($ Millions) | Total Assets ($ Millions) | Market Cap ($ Millions) |
|---|---|---|---|---|
| 2018 | 5.6 | -31.2 | 45.2 | 132.5 |
| 2019 | 10.3 | -27.1 | 90.0 | 157.8 |
| 2020 | 29.8 | -35.6 | 112.5 | 220.0 |
| 2021 | 45.2 | -28.4 | 142.0 | 300.0 |
| 2022 | 61.5 | -22.0 | 200.0 | 350.0 |
Research and Development
Cara Therapeutics invests significantly in research and development, with R&D expenses reported as follows:
| Year | R&D Expenses ($ Millions) |
|---|---|
| 2018 | 22.4 |
| 2019 | 23.9 |
| 2020 | 30.2 |
| 2021 | 28.1 |
| 2022 | 35.0 |
Partnerships and Collaborations
Cara Therapeutics has established several partnerships, including:
- Collaboration with Vifor Pharma for the commercialization of KORSUVA in Europe.
- Partnership with Maruishi Pharmaceutical for marketing in Japan.
- Research collaboration with Universities for further drug discovery.
Recent Developments
As of 2023, Cara Therapeutics is actively pursuing new indications for KORSUVA and expanding its clinical trials to evaluate the efficacy of difelikefalin in acute pain settings. The company has also been exploring additional formulations targeting various patient populations.
A Who Owns Cara Therapeutics, Inc. (CARA)
Major Shareholders
Major Shareholders
As of the latest data available, the ownership structure of Cara Therapeutics, Inc. (CARA) includes a mix of institutional and retail investors. Below is a table reflecting the largest shareholders as of Q3 2023.
| Shareholder Name | Ownership (%) | Shares Held | Type of Ownership |
|---|---|---|---|
| BlackRock, Inc. | 15.2 | 3,756,789 | Institutional |
| The Vanguard Group, Inc. | 12.5 | 3,040,000 | Institutional |
| FMR LLC (Fidelity) | 9.8 | 2,390,000 | Institutional |
| Sandra H. E. Hudecki | 4.0 | 1,000,000 | Individual |
| Goldman Sachs Group, Inc. | 3.5 | 850,000 | Institutional |
Insider Ownership
Insiders play a significant role in the ownership of Cara Therapeutics. The following table lists key insider holdings as of Q3 2023.
| Insider Name | Position | Shares Owned | Ownership (%) |
|---|---|---|---|
| Eric A. V. Schoenberg | CEO | 1,500,000 | 6.2 |
| Jason L. T. P. J. H. MacLeod | President | 750,000 | 3.1 |
| Linda W. H. J. Lee | COO | 300,000 | 1.2 |
Market Capitalization
As of the end of Q3 2023, Cara Therapeutics, Inc. has a market capitalization of approximately $245 million.
Stock Performance
The stock performance of Cara Therapeutics has shown variability. Below is a summary of its stock performance metrics as of September 2023.
| Metric | Value |
|---|---|
| Current Stock Price | $6.35 |
| 52-Week High | $12.50 |
| 52-Week Low | $4.10 |
| Average Volume (3 months) | 450,000 shares |
Institutional Ownership Trends
The trends in institutional ownership of Cara Therapeutics indicate increasing interest among large investment firms. Here is a snapshot of the institutional ownership over the last four quarters.
| Quarter | Institutional Ownership (%) |
|---|---|
| Q3 2023 | 70.8 |
| Q2 2023 | 68.3 |
| Q1 2023 | 65.5 |
| Q4 2022 | 62.0 |
Recent Developments
Recent developments within the company may have implications for shareholders. Cara Therapeutics has made strides in drug development, particularly with its novel therapies targeting pruritus. The following table summarizes recent funding rounds and partnerships.
| Event | Date | Amount ($) | Type |
|---|---|---|---|
| Series C Financing | April 2023 | 30 million | Equity |
| Partnership with Aurobindo Pharma | June 2023 | N/A | Collaboration |
| Investment from RA Capital | July 2023 | 15 million | Equity |
Cara Therapeutics, Inc. (CARA) Mission Statement
Corporate Overview
Cara Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing innovative treatments for pain and pruritus (itching). The company's mission centers on improving patient outcomes by targeting the body's natural mechanisms of pain relief.
Mission Statement
The mission statement of Cara Therapeutics emphasizes the commitment to developing new therapies that address unmet medical needs in the fields of pain and pruritus. The statement reflects their dedication to advancing health through science and innovation.
Strategic Objectives
- To introduce new investigational drugs that target mu-opioid receptors.
- To address chronic pain and itch with fewer side effects than traditional therapies.
- To broaden the understanding of the body’s mechanisms related to pain and itch.
- To collaborate with regulatory authorities for expedited drug approvals.
Current Product Pipeline
| Product Name | Indication | Stage of Development | Expected Approval Date |
|---|---|---|---|
| CR845 | Chronic Pain | Phase 3 | 2024 |
| CR701 | Chronic Kidney Disease Itch | Phase 2 | 2025 |
| CR635 | Neuropathic Pain | Preclinical | N/A |
Financial Highlights
As of Q3 2023, Cara Therapeutics reported the following financial metrics:
| Metric | Value |
|---|---|
| Total Revenue | $16.2 million |
| Net Loss | $32.1 million |
| Cash and Cash Equivalents | $75.0 million |
| Total Assets | $120.0 million |
Commitment to Innovation
Cara Therapeutics is committed to innovation in the pharmaceutical industry. The company's mission is supported by rigorous scientific research and the development of state-of-the-art therapies that provide safer and more effective treatment options for patients suffering from pain and itch-related conditions.
How Cara Therapeutics, Inc. (CARA) Works
Company Overview
Cara Therapeutics, Inc. (CARA) focuses on developing and commercializing innovative treatments for chronic pain and pruritus (itching). Established in 2004, the company operates within the biotechnology sector and is headquartered in Shelton, Connecticut.
Product Pipeline
The company's product pipeline includes the following key drug candidates:
- Korsuva (difelikefalin): Approved for treating pruritus in patients undergoing hemodialysis.
- CR845: A peripherally acting kappa opioid receptor agonist targeting acute and chronic pain.
- CR701: An investigational compound aimed at treating pain associated with sickle cell disease.
Financial Performance
As of Q3 2023, Cara Therapeutics reported the following financial data:
| Metric | Q3 2023 | Q2 2023 | Q3 2022 |
|---|---|---|---|
| Revenue | $12.5 million | $10 million | $8 million |
| Net Loss | $(10.2) million | $(9.5) million | $(8.0) million |
| Total Assets | $225 million | $210 million | $190 million |
| Cash & Cash Equivalents | $65 million | $55 million | $47 million |
Market Position
Cara Therapeutics operates in a competitive landscape with other biotechnology firms. As of October 2023, the company has the following market capitalization:
- Market Cap: Approximately $300 million.
Collaboration and Partnerships
Cara Therapeutics has established several strategic partnerships to enhance its research and development capabilities:
- Collaboration with Vifor Pharma: For the commercialization of Korsuva in Europe.
- Partnership with other research institutions: Focusing on the development of novel analgesics.
Regulatory Approvals
The company has received the following regulatory approvals:
- Korsuva: Approved by the FDA in December 2020 for the treatment of pruritus in hemodialysis patients.
Stock Information
As of October 2023, the trading statistics for Cara Therapeutics (CARA) are as follows:
| Metric | Value |
|---|---|
| Current Share Price | $8.75 |
| 52-Week High | $15.00 |
| 52-Week Low | $5.25 |
| Average Volume | 450,000 shares |
Future Outlook
The company anticipates growth through the expansion of its product offerings and potential new market entries. It also focuses on developing treatments for additional indications that could leverage its existing drugs.
How Cara Therapeutics, Inc. (CARA) Makes Money
Product Portfolio
Product Portfolio
Cara Therapeutics, Inc. primarily generates revenue through the commercialization of its product, KORSUVA™ (difelikefalin), an FDA-approved treatment for pruritus in patients with chronic kidney disease undergoing hemodialysis. The company also focuses on developing other drug candidates targeting pain and itch.
Revenue from KORSUVA Sales
The revenue derived from KORSUVA sales has seen significant growth since its launch. In 2022, the company reported revenue of approximately $24.4 million from KORSUVA sales.
| Year | Revenue from KORSUVA Sales | Year-over-Year Growth |
|---|---|---|
| 2020 | $2.6 million | - |
| 2021 | $8.3 million | 218% |
| 2022 | $24.4 million | 194% |
Partnerships and Collaborations
Cara Therapeutics enters strategic partnerships to enhance research, development, and commercialization efforts. In 2021, a collaboration agreement with Vifor Pharma was established, aiming to bolster marketing and distribution in certain regions.
In the 2021 fiscal year, the collaboration contributed approximately $10 million in upfront and milestone payments.
| Partner | Collaboration Type | Financial Contribution |
|---|---|---|
| Vifor Pharma | Marketing and Distribution | $10 million |
| Other Collaborators | Research and Development | $5 million |
Research and Development Funding
Cara Therapeutics actively seeks funding through government grants and private investments to support its R&D activities. In 2021, the company received a grant of $2 million from the National Institutes of Health (NIH).
Stock Performance and Financing Activities
Throughout 2021 and 2022, the company engaged in several financing activities, raising capital through public offerings. In August 2022, Cara Therapeutics raised $55 million through an equity offering, aimed at funding ongoing clinical trials.
Future Revenue Opportunities
The future revenue prospects for Cara Therapeutics hinge on the successful development and commercialization of new therapeutics. The company is actively pursuing treatments such as CARA-001 for inflammatory conditions, which could expand its revenue base significantly, depending on trial outcomes and market acceptance.
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