Tvardi Therapeutics Inc · Q2 2021 earnings

Briefing

Cara Therapeutics reported financial results for the second quarter ended June 30, 2021.

Cara Therapeutics reported a net loss of $30.7 million, or $0.61 per share, for the second quarter of 2021. The company's cash, cash equivalents, and marketable securities totaled $207.4 million as of June 30, 2021. The FDA granted Priority Review for the NDA filing of KORSUVA Injection in March 2021 with an expected PDUFA target action date of August 23, 2021.

• The FDA accepted the filing of the NDA for KORSUVA Injection for the treatment of moderate-to-severe pruritus in hemodialysis patients and granted Priority Review.
• EMA accepted to review the Marketing Authorization Application (MAA) for difelikefalin injection for the treatment of pruritus associated with chronic kidney disease in hemodialysis patients.
• Top-line results from its Phase 2 KARE dose-ranging clinical trial of Oral KORSUVA for the treatment of moderate-to-severe pruritus in mild-to-severe atopic dermatitis patients did not meet its primary endpoint.
• Company expects that its existing unrestricted cash and cash equivalents and available-for-sale marketable securities as of June 30, 2021 will be sufficient to fund its currently anticipated operating expenses and capital expenditures into 2023.

Headline financials

Revenue & EPS history

Cara Therapeutics expects that its existing unrestricted cash and cash equivalents and available-for-sale marketable securities as of June 30, 2021 will be sufficient to fund its currently anticipated operating expenses and capital expenditures into 2023, without giving effect to any potential milestone payments or potential product revenue under existing collaborations.