The earnings call highlighted a strategic focus on a promising NP program with potential for significant clinical and commercial success. However, challenges with KORSUVA revenue and increased R&D expenses were notable concerns.

Company Guidance

In the earnings call for Cara Therapeutics, the company provided guidance focused on the development of oral difelikefalin for notalgia paresthetica (NP), prioritizing this program to extend their cash runway into 2026. They reported significant demand growth for KORSUVA injection, with a 22% increase in vial shipments in Q4 2023, although future revenue from KORSUVA is not expected to be substantial due to reimbursement changes. The company highlighted that 34 million U.S. adults suffer from chronic pruritus, with 650,000 diagnosed NP patients, noting the lack of approved therapies and the significant unmet need for effective treatment. The Phase II/III COURAGE I study for NP has completed enrollment ahead of schedule, with top-line results anticipated in Q3 2024. Financially, Cara reported $3 million in revenue for Q4 2023 and ended the year with $1.8 million in cash, cash equivalents, and marketable securities, after using $92.1 million in operating activities and securing $36.5 million from a financing transaction.

Focus on Notalgia Paresthetica

Cara Therapeutics has prioritized its program focusing on oral difelikefalin for notalgia paresthetica (NP), a chronic neuropathic condition with a significant unmet need. This strategic focus extends their cash runway into 2026.

Successful Phase II Study for NP

Phase II proof-of-concept study for oral difelikefalin showed statistically significant results in reducing itch in NP patients, with rapid enrollment in the Phase II/III COURAGE I study.

Strong Demand Growth for KORSUVA Injection

KORSUVA injection saw a 22% increase in demand quarter-to-quarter, reflecting its clinical benefit.

Financial Strategy Enhancements

Cara completed a financing transaction with Healthcare Royalty, bringing forward the value of ex-U.S. and Japan royalties in a nondilutive manner, strengthening their balance sheet.

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Cara Therapeutics (CARA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CARA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 26, 2025	2024 (Q4)	- / -	―	―	―	―
Nov 04, 2024	2024 (Q3)	-0.24 / -0.23	-0.52	56.15% (+0.29)	―	―
Aug 05, 2024	2024 (Q2)	-0.27 / -0.27	-0.58	53.45% (+0.31)	―	―
May 13, 2024	2024 (Q1)	-0.40 / -0.56	-0.49	-14.29% (-0.07)	―	―
Mar 04, 2024	2023 (Q4)	-0.45 / -0.59	-0.56	-5.36% (-0.03)	―
Nov 13, 2023	2023 (Q3)	-0.52 / -0.52	-0.43	-20.93% (-0.09)	―
Aug 07, 2023	2023 (Q2)	-0.54 / -0.58	-0.08	-625.00% (-0.50)	―
May 15, 2023	2023 (Q1)	-0.51 / -0.49	-0.52	5.77% (+0.03)	―
Mar 06, 2023	2022 (Q4)	-0.34 / -0.56	-0.63	11.11% (+0.07)	―
Nov 07, 2022	2022 (Q3)	-0.41 / -0.43	-0.02	-2050.00% (-0.41)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CARA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2024	$0.30	$0.29	-3.33%
Aug 05, 2024	$0.35	$0.35	0.00%
May 13, 2024	$0.75	$0.72	-4.00%
Mar 04, 2024	$1.00	$0.91	-9.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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