Cara Therapeutics Inc (NASDAQ:CARA) has reported revenues of $4.5 million in Q4 2019. It is a drop of 22.65% when compared to the same period last year. The company missed consensus estimates of Zacks by 19.13%.
CEO and President of Cara, Derek Chalmers, said the company made significant achievements in Oral KORSUVA late-stage clinical pruritus programs and KORSUVA™ Injection in 2019.
Positive results from KORSUA injection
Cara reported positive results from the phase 3 efficacy trial of KORSUA injection, which is evaluated to treat chronic kidney disease-related pruritus in patients, who are subjected to hemodialysis. It also achieved a positive outcome from the phase 2 trial of oral KORSUA in patients, who are undergoing predialysis. The company also widened its clinical pruritus program for the oral KORSUA by initiating phase 2 trials in liver disease and atopic dermatitis patients.
First NDA for KORSUA injection
This year is exciting for Cara because of a pivotal trial of KALM-2 advances in Q2 for top-line data. Cara expects to apply for the first NDA for its KORSUA injection in H2 2020 to the US FDA.
Cara has completed an interim statistical assessment of the KALM-2 phase 3 worldwide trial of the KORSUA Injection in October 2019. The enrollment size in the trial is increased to 430 patients from 300 patients, considering the Independent Data Monitoring Committee recommendation.
Cara has accomplished over 1,500 total patient exposures. The New England Journal of Medicine has published the KALM-1 phase 3 trial outcome of the KORSUA injection in patients who are undergoing hemodialysis.
Expected milestones in 2020
Cara expects top-line safety and efficacy data of KORSUA injection’s phase 3 trial in patients undergoing hemodialysis with moderate to severe CKD-ap in Q2 2020. It also expects top-line data of Oral KORSUA phase 2 trials in CLD and AD this year.
Expected Revenues in 2020
According to analysts, Cara expects to post revenues of $19.5 million in 2020. It is a decline of 2.1% when compared to the previous year’s performance. The recent estimates are on the backdrop of releasing the latest earnings.
The net worth of Cara is $752 million. CEO’s annual compensation is $2.8 million in 2018. His compensation is lower.