false
0001346830
0001346830
2024-03-04
2024-03-04
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
March 4, 2024
CARA THERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
| Delaware |
|
001-36279 |
|
75-3175693 |
|
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
| |
|
|
|
|
|
400 Atlantic Street
Suite 500
Stamford, Connecticut |
|
|
|
06901 |
| (Address of principal executive offices) |
|
|
|
(Zip Code) |
| |
|
|
|
|
| Registrant's telephone number, including area code (203) 406-3700 |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
| ¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title
of each class |
Trading
Symbol |
Name
of each exchange on which registered |
| Common Stock, par value $0.001 per share |
CARA |
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨.
| Item 2.02. |
Results of Operations and Financial Condition. |
On March 4, 2024, Cara Therapeutics, Inc. (the “Company”)
issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2023. A copy of the
press release is being furnished to the Securities and Exchange Commission as Exhibit 99.1 to this Current Report on Form 8-K
and is incorporated by reference to this Item 2.02.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1,
shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange
Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any of
the Company’s filings with the Securities and Exchange Commission under the Exchange Act or the Securities Act of 1933, as amended,
whether made before or after the date hereof, regardless of any general incorporation language in such a filing.
| Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
CARA THERAPEUTICS, INC. |
| |
|
| |
By: |
/s/ RYAN MAYNARD |
| |
|
Ryan Maynard |
| |
|
Chief Financial Officer |
| |
|
(Principal Financial and Accounting Officer) |
Date: March 4, 2024
Exhibit 99.1
Cara Therapeutics
Announces Fourth Quarter and Full Year 2023 Financial Results
–Announced
prioritization of clinical programs to focus on late-stage development of oral difelikefalin for notalgia paresthetica (NP)–
–Completed
enrollment of KOURAGE 1 Part A portion of NP pivotal program ahead of schedule; topline efficacy and safety results now expected
in 3Q24–
–Extended
cash runway into 2026 with clinical prioritization strategy and reduction in force–
–Conference
call today at 4:30 p.m. EST–
STAMFORD, Conn.,
March 4, 2024 – Cara Therapeutics, Inc. (Nasdaq: CARA), a development-stage biopharmaceutical company leading
a new treatment paradigm to improve the lives of patients suffering from pruritus, today announced financial results and operational
highlights for the fourth quarter and full year ended December 31, 2023.
“Earlier
this year, we announced the decision to focus all our resources on our late-stage notalgia paresthetica (NP) clinical program, which
we believe puts us on the path to significant near-term value creation,” said Christopher Posner, President and Chief Executive
Officer of Cara Therapeutics. “We completed enrollment in KOURAGE 1 Part A, the dose-finding portion of our pivotal program,
earlier than anticipated and now expect to report topline efficacy and safety results in the third quarter of 2024. With a sizeable patient
population and no approved or effective therapies on the market, we are excited about the commercial potential for oral difelikefalin
in NP. Importantly, our cash runway into 2026 gives us the resources necessary to reach all potential key value-inflection milestones
in our NP clinical program.”
2023 and Recent
Highlights
| · | Completed
enrollment in KOURAGE 1 Part A with 214 patients |
| · | Prioritized
late-stage NP clinical program, extending cash runway into 2026 |
| · | Entered
into Royalty Purchase and Sale Agreement with HealthCare Royalty for up to $40 million and
received $37.5 million, less $1.0 million of transaction costs and advisory fees, in 4Q23 |
| · | CY
2024 End Stage Renal Disease Prospective Payment System (ESRD PPS) final rule issued
by CMS outlining post-TDAPA reimbursement |
| · | Helen
M. Boudreau appointed to the Company’s Board of Directors and serving as Chair of the
Audit Committee |
| · | Results
from the KOMFORT Phase 2 proof-of-concept study of oral difelikefalin in NP published in
the New England Journal of Medicine |
KOURAGE Update
In the first quarter
of 2024, the Company completed enrollment in KOURAGE 1 Part A, the dose-finding portion of the Phase 2/3 clinical program evaluating
oral difelikefalin for the treatment of moderate-to-severe pruritus in patients with NP.
The Company enrolled
214 patients and expects topline efficacy and safety results from KOURAGE 1 Part A in the third quarter of 2024. Part A is
not powered for statistical significance. This readout will provide key information, specifically the dose and sample size to initiate
the Phase 3 pivotal portion of the program – Part B of KOURAGE 1 and the second study KOURAGE 2. Final topline results from
the first pivotal study are expected by the end of 2025 with the second pivotal study results in early 2026.
On March 27,
2024, the Company will host a virtual event featuring a panel of leading dermatologists and key opinion leaders to discuss the unmet
need in NP and the potential of oral difelikefalin. The Company will issue an announcement with more details.
4Q23 KORSUVA
Injection U.S. Update
In the fourth quarter
of 2023, KORSUVA® (difelikefalin) injection generated net sales of $5.0 million and the Company recorded collaborative
revenue of $2.3 million, which represented the Company’s share of the profit from sales of KORSUVA injection.
Wholesalers shipped
110,700 vials to dialysis centers during the fourth quarter of 2023 (an increase of 22% vs. the third quarter of 2023), the majority
of which were vials reallocated within the Fresenius network of clinics.
On March 31,
2024, the Transitional Drug Add-On Payment Adjustment (TDAPA) period for KORSUVA injection will expire. After March 31, 2024, KORSUVA
injection will be reimbursed through the ESRD PPS bundle.
Upcoming Meeting
Activities
The Company expects
to participate in the following upcoming events:
| · | Meet
the NP Experts Virtual Event, March 27 |
| · | 23rd
Annual Needham Virtual Healthcare Conference, April 8-11 |
Fourth Quarter
and Full Year 2023 Financial Results
Royalty Purchase
and Sale Agreement: During the three months ended December 31, 2023, the Company entered into a Purchase and Sale Agreement,
or the HCR Agreement, with HCRX Investments Holdco, L.P. and Healthcare Royalty Partners IV, L.P., or collectively HCR, where HCR will
receive future royalty and milestone payments for Kapruvia/KORSUVA (ex U.S. only) up to certain capped amounts in exchange for up to
$40.0 million to the Company. The Company received proceeds of $37.5 million, less $1.0 million of transaction and advisory costs, both
of which were recorded as a long-term liability as of December 31, 2023. This long-term debt balance will increase as imputed interest
is calculated on the outstanding debt balance and will decrease as future royalty and milestone payments are paid to HCR over the period
defined in the HCR Agreement.
Cash, cash equivalents
and marketable securities at December 31, 2023 totaled $100.8 million compared to $156.7 million at December 31, 2022. The
decrease in the balance primarily resulted from $92.1 million of cash used in operating activities, partially offset by $36.5 million
of net proceeds received from the HCR Agreement.
For the fourth
quarter of 2023, net loss was $32.3 million, or $(0.59) per basic and diluted share, compared to net loss of $30.3 million, or $(0.56)
per basic and diluted share, for the same period in 2022.
Revenues:
Total revenue was $3.0 million and $3.3 million for the three months ended December 31, 2023 and 2022, respectively. Revenue primarily
consisted of:
| · | $2.3
million and $1.1 million of collaborative revenue related to our share of the profit from
CSL Vifor’s sales of KORSUVA injection in the U.S. to third parties during the three
months ended December 31, 2023 and 2022, respectively. |
| · | $2.1
million of commercial supply revenue related to sales of KORSUVA injection to CSL Vifor during
the three months ended December 31, 2022. There was no commercial supply revenue during
the three months ended December 31, 2023. |
| · | $0.7
million of other revenue related to royalties and milestone payments earned in conjunction
with ex U.S. sales of KORSUVA/Kapruvia under agreements with CSL Vifor and Maruishi during
the three months ended December 31, 2023, which were sold under the HCR Agreement and
considered non-cash. There was no other revenue during the three months ended December 31,
2022. |
Cost of Goods
Sold: Cost of goods sold of $0.6 million primarily related to inventory adjustments during the three months ended December 31,
2023. Cost of goods sold of $2.1 million related to commercial supply revenue for KORSUVA injection sales to CSL Vifor during the three
months ended December 31, 2022.
Research and
Development (R&D) Expenses: R&D expenses were $28.4 million for the three months ended December 31, 2023 compared to
$26.0 million in the same period of 2022. The higher R&D expenses in 2023 were primarily due to increases in clinical trial costs
related to the Company’s three late-stage development programs partially offset by a decrease in stock-based compensation expense.
R&D expenses in the three months ended December 31, 2023 included a $1.7 million expense related to an agreement for manufacturing
commitments that are no longer needed due to the reduced demand expectations of KORSUVA in the U.S.
General and
Administrative (G&A) Expenses: G&A expenses were $6.6 million for the three months ended December 31, 2023 which were
relatively flat compared to $6.4 million in the same period of 2022.
Other Income,
net: Other income, net was $0.9 million for the three months ended December 31, 2023 compared to $1.0 million in the same period
of 2022.
Non-cash interest
expense on liability related to sales of future royalties and milestones: Non-cash interest expense was $0.6 million which represented
imputed interest on the carrying value of the liability associated with the HCR Agreement and the amortization of the related issuance
costs associated with the purchase and sale agreement for the three months ended December 31, 2023. There was no non-cash interest
expense for the three months ended December 31, 2022.
For the full year
ended December 31, 2023, net loss was $118.5 million, or $(2.19) per basic and diluted share, compared to net loss of $85.5 million,
or $(1.59) per basic and diluted share for the full year ended December 31, 2022.
Revenues:
Total revenue was $21.0 million and $41.9 million for the full years ended December 31, 2023 and 2022, respectively. Revenue primarily
consisted of:
| · | $12.9
million and $16.6 million of collaborative revenue related to our share of the profit from
CSL Vifor’s sales of KORSUVA injection in the U.S. to third parties during the years
ended December 31, 2023 and 2022, respectively. In addition, $0.5 million of collaborative
revenue was recognized during the year ended December 31, 2023. This amount relates
to an allocated portion of the regulatory milestone payment we earned in September 2023
from Maruishi Pharmaceuticals Co. Ltd., or Maruishi, for the marketing approval in Japan
for KORSUVA injection. |
| · | $5.8
million and $10.2 million of commercial supply revenue related to sales of KORSUVA injection
to CSL Vifor for the years ended December 31, 2023 and 2022, respectively. |
| · | $0.9
million of license and milestone fees revenue for the year ended December 31, 2023 related
to the remaining allocated portion of a regulatory milestone payment we earned in September 2023
from Maruishi for the marketing approval in Japan for KORSUVA injection, compared to $15.0
million of license and milestone fees revenue for the year ended December 31, 2022 related
to the regulatory milestone payment for the approval of Kapruvia by the European Commission
earned in April 2022. |
| · | Approximately
$415,000 and $72,000 of royalty revenue related to our royalties on the net sales of Kapruvia
in Europe during the years ended December 31, 2023 and 2022, respectively. |
| · | $0.7
million of other revenue related to royalties and milestone payments earned in conjunction
with ex U.S. sales of KORSUVA/Kapruvia under agreements with CSL Vifor and Maruishi during
the year ended December 31, 2023, which were sold under the HCR Agreement and considered
non-cash. There was no other revenue during the year ended December 31, 2022. |
Cost of Goods
Sold: Cost of goods sold of $6.2 million and $7.3 million for the years ended December 31, 2023 and 2022, respectively, related
to commercial supply revenue for KORSUVA injection sales to CSL Vifor.
Research and
Development (R&D) Expenses: R&D expenses were $108.5 million for the full year ended December 31, 2023 compared to $91.9
million for the full year ended December 31, 2022. The higher R&D expenses in 2023 were primarily due to increases in clinical
trial costs related to the Company’s three late-stage development programs and increased payroll-related costs, partially offset
by a decrease in stock-based compensation expense. R&D expenses in 2023 also included a $1.7 million expense related to an agreement
for forecasted manufacturing commitments that are no longer needed due to the reduced demand expectations of KORSUVA in the United States,
while R&D expenses in 2022 included the recognition of the $5.0 million milestone payment due to Enteris BioPharma, Inc.
General and
Administrative (G&A) Expenses: G&A expenses were $27.8 million for the full year ended December 31, 2023 compared to
$30.3 million for the full year ended December 31, 2022. The decrease in 2023 was primarily related to a decrease in stock-based
compensation expense.
Other Income,
net: Other income, net was $3.6 million for the full year ended December 31, 2023 compared to $2.1 million for the full year
ended December 31, 2022. The increase in other income, net was primarily due to an increase in interest income resulting from a
higher yield on our portfolio of investments during the year ended December 31, 2023.
Non-cash interest
expense on liability related to sales of future royalties and milestones: Non-cash interest expense was $0.6 million which represented
imputed interest on the carrying value of the liability associated with the HCR Agreement and the amortization of the related issuance
costs associated with the HCR Agreement for the year ended December 31, 2023. There was no non-cash interest expense for the year
ended December 31, 2022.
Financial Guidance
Cara expects that
our current unrestricted cash and cash equivalents and available-for-sale marketable securities will be sufficient to fund our currently
anticipated operating plan into 2026. Our current operating plan reflects the impact of our prioritization announcement in January 2024
which includes costs related to our pivotal program in NP.
About the KOURAGE
Phase 2/3 Clinical Program in Notalgia Paresthetica
KOURAGE is a Phase
2/3 clinical program evaluating oral difelikefalin for the treatment of moderate-to-severe pruritus in patients with notalgia paresthetica
(NP). The program is comprised of two studies – KOURAGE 1 and KOURAGE 2 – which are double-blind, placebo-controlled, 8-week
studies with patients allowed to roll-over into open-label 52-week extensions.
KOURAGE 1 is composed
of two parts. The dose-finding portion of KOURAGE 1 (Part A) includes 214 patients who are randomized equally to four arms (0.25
mg BID, 1.0 mg BID, 2.0 mg BID, placebo BID). Part A is not powered for statistical significance.
Part B and
KOURAGE 2 will likely be double-blind, placebo-controlled, 8-week studies with patients randomized 1:1 to either difelikefalin or matching
placebo. The primary endpoint for both the dose-finding portion of KOURAGE 1 (Part A) and the two pivotal studies Part B and
KOURAGE 2 will likely be the proportion of patients with a ≥4-point improvement at Week 8 from baseline in the worst itch numeric
rating scale.
About Cara Therapeutics
Cara Therapeutics is
a development-stage biopharmaceutical company leading a new treatment paradigm to improve the lives of patients suffering from pruritus.
The Company is developing an oral formulation of difelikefalin, a selective, peripherally acting, non-scheduled kappa opioid receptor
agonist, for the treatment of chronic pruritus associated with notalgia paresthetica (NP), a common, underdiagnosed neuropathy affecting
the upper back for which there are no FDA-approved therapies. The Company is conducting a Phase 2/3 clinical program in NP with topline
results of the dose-finding portion expected in the third quarter of 2024. Cara Therapeutics also developed an IV formulation of difelikefalin,
which is approved in the United States, EU, and multiple other countries for the treatment of moderate-to-severe pruritus associated
with advanced chronic kidney disease in adults undergoing hemodialysis. The IV formulation is out-licensed worldwide. For
more information, visit www.CaraTherapeutics.com and follow
the company on X (Twitter), LinkedIn and Instagram.
Forward-looking
Statements
Statements contained
in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Examples of these forward-looking statements include statements concerning the
Company’s strategic plans to focus its resources on the development of oral difelikefalin for the treatment of pruritus associated
with notalgia paresthetica, the timing of initiation, enrollment and data readouts from, and potential results of, the Company’s
planned and ongoing clinical trials, the potential for the Company’s product candidate to be an alternative in the treatment of
pruritus, the commercial potential of the Company’s product candidate, the receipt of potential milestone payments pursuant to
the Purchase and Sale Agreement with HealthCare Royalty, and the Company’s cash runway. Because such statements are subject to
risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks
are described more fully in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors”
section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and its other documents subsequently
filed with or furnished to the Securities and Exchange Commission, including its Form 10-Q for the quarter ended September 30,
2023. All forward-looking statements contained in this press release speak only as of the date on which they were made. Cara Therapeutics
undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they
were made, except as required by law.
Financial tables
follow
CARA THERAPEUTICS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
| | |
December 31, | |
| | |
2023 | | |
2022 | |
| Assets | |
| | |
| |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 51,775 | | |
$ | 63,741 | |
| Marketable securities | |
| 48,983 | | |
| 81,658 | |
| Accounts receivable, net - related party | |
| 2,765 | | |
| 3,260 | |
| Inventory, net | |
| 2,821 | | |
| 2,383 | |
| Income tax receivable | |
| 697 | | |
| 697 | |
| Other receivables | |
| 555 | | |
| 496 | |
| Prepaid expenses | |
| 8,154 | | |
| 16,267 | |
| Restricted cash | |
| 408 | | |
| 408 | |
| Total current assets | |
| 116,158 | | |
| 168,910 | |
| Operating lease right-of-use assets | |
| 4,864 | | |
| 1,551 | |
| Marketable securities, non-current | |
| - | | |
| 11,350 | |
| Property and equipment, net | |
| 3,322 | | |
| 426 | |
| Restricted cash, non-current | |
| 1,500 | | |
| - | |
| Total assets | |
$ | 125,844 | | |
$ | 182,237 | |
| | |
| | | |
| | |
| Liabilities and stockholders’ equity | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable and accrued expenses | |
$ | 25,592 | | |
$ | 21,540 | |
| Operating lease liabilities, current | |
| - | | |
| 1,918 | |
| Total current liabilities | |
| 25,592 | | |
| 23,458 | |
| | |
| | | |
| | |
| Liability related to sales of future royalties and milestones, net | |
| 37,079 | | |
| - | |
| Operating lease liabilities, non-current | |
| 6,088 | | |
| - | |
| Total liabilities | |
| 68,759 | | |
| 23,458 | |
| | |
| | | |
| | |
| Commitments and contingencies | |
| - | | |
| - | |
| | |
| | | |
| | |
| Stockholders' equity: | |
| | | |
| | |
| Preferred stock | |
| - | | |
| - | |
| Common stock | |
| 54 | | |
| 53 | |
| Additional paid-in capital | |
| 742,036 | | |
| 726,630 | |
| Accumulated deficit | |
| (684,745 | ) | |
| (566,232 | ) |
| Accumulated other comprehensive loss | |
| (260 | ) | |
| (1,672 | ) |
| Total stockholders’ equity | |
| 57,085 | | |
| 158,779 | |
| Total liabilities and stockholders’ equity | |
$ | 125,844 | | |
$ | 182,237 | |
CARA THERAPEUTICS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except share and per share data)
(unaudited)
| |
|
Three Months Ended
December 31, |
|
|
Year Ended
December 31, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
| Collaborative revenue |
|
$ |
2,305 |
|
|
$ |
1,126 |
|
|
$ |
12,936 |
|
|
$ |
16,572 |
|
| Commercial supply revenue |
|
|
- |
|
|
|
2,063 |
|
|
|
5,843 |
|
|
|
10,223 |
|
| License and milestone fees |
|
|
- |
|
|
|
- |
|
|
|
910 |
|
|
|
15,000 |
|
| Royalty revenue |
|
|
- |
|
|
|
72 |
|
|
|
415 |
|
|
|
72 |
|
| Clinical compound revenue |
|
|
- |
|
|
|
- |
|
|
|
165 |
|
|
|
- |
|
| Other revenue |
|
|
699 |
|
|
|
- |
|
|
|
699 |
|
|
|
- |
|
| Total revenue |
|
|
3,004 |
|
|
|
3,261 |
|
|
|
20,968 |
|
|
|
41,867 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
608 |
|
|
|
2,130 |
|
|
|
6,174 |
|
|
|
7,266 |
|
| Research and development |
|
|
28,415 |
|
|
|
26,010 |
|
|
|
108,510 |
|
|
|
91,879 |
|
| General and administrative |
|
|
6,588 |
|
|
|
6,428 |
|
|
|
27,779 |
|
|
|
30,257 |
|
| Total operating expenses |
|
|
35,611 |
|
|
|
34,568 |
|
|
|
142,463 |
|
|
|
129,402 |
|
| Operating loss |
|
|
(32,607 |
) |
|
|
(31,307 |
) |
|
|
(121,495 |
) |
|
|
(87,535 |
) |
| Other income, net |
|
|
874 |
|
|
|
968 |
|
|
|
3,586 |
|
|
|
2,061 |
|
| Non-cash interest expense on liability related to sales of future royalties and milestones |
|
|
(604 |
) |
|
|
- |
|
|
|
(604 |
) |
|
|
- |
|
| Net loss |
|
$ |
(32,337 |
) |
|
$ |
(30,339 |
) |
|
$ |
(118,513 |
) |
|
$ |
(85,474 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and Diluted |
|
$ |
(0.59 |
) |
|
$ |
(0.56 |
) |
|
$ |
(2.19 |
) |
|
$ |
(1.59 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and Diluted |
|
|
54,477,906 |
|
|
|
53,762,797 |
|
|
|
54,149,059 |
|
|
|
53,653,564 |
|
MEDIA CONTACT:
Annie Spinetta
6 Degrees
973-768-2170
aspinetta@6degreespr.com
INVESTOR CONTACT:
Iris Francesconi, Ph.D.
Cara Therapeutics
203-406-3700
investor@caratherapeutics.com
v3.24.0.1
Cover
|
Mar. 04, 2024 |
| Cover [Abstract] |
|
| Document Type |
8-K
|
| Amendment Flag |
false
|
| Document Period End Date |
Mar. 04, 2024
|
| Entity File Number |
001-36279
|
| Entity Registrant Name |
CARA THERAPEUTICS, INC.
|
| Entity Central Index Key |
0001346830
|
| Entity Tax Identification Number |
75-3175693
|
| Entity Incorporation, State or Country Code |
DE
|
| Entity Address, Address Line One |
400 Atlantic Street
|
| Entity Address, Address Line Two |
Suite 500
|
| Entity Address, City or Town |
Stamford
|
| Entity Address, State or Province |
CT
|
| Entity Address, Postal Zip Code |
06901
|
| City Area Code |
203
|
| Local Phone Number |
406-3700
|
| Written Communications |
false
|
| Soliciting Material |
false
|
| Pre-commencement Tender Offer |
false
|
| Pre-commencement Issuer Tender Offer |
false
|
| Title of 12(b) Security |
Common Stock, par value $0.001 per share
|
| Trading Symbol |
CARA
|
| Security Exchange Name |
NASDAQ
|
| Entity Emerging Growth Company |
false
|
| X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
| Name: |
dei_AmendmentFlag |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
| Name: |
dei_DocumentPeriodEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
| Name: |
dei_DocumentType |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:submissionTypeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
| Name: |
dei_EntityAddressAddressLine1 |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAddress Line 2 such as Street or Suite number
| Name: |
dei_EntityAddressAddressLine2 |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Definition
+ References
+ Details
| Name: |
dei_EntityAddressCityOrTown |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCode for the postal or zip code
| Name: |
dei_EntityAddressPostalZipCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the state or province.
| Name: |
dei_EntityAddressStateOrProvince |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:stateOrProvinceItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityCentralIndexKey |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:centralIndexKeyItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate if registrant meets the emerging growth company criteria. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityEmergingGrowthCompany |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
| Name: |
dei_EntityFileNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fileNumberItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
| Name: |
dei_EntityIncorporationStateCountryCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarStateCountryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityRegistrantName |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityTaxIdentificationNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:employerIdItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionLocal phone number for entity.
| Name: |
dei_LocalPhoneNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
| Name: |
dei_PreCommencementIssuerTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
| Name: |
dei_PreCommencementTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTitle of a 12(b) registered security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
| Name: |
dei_Security12bTitle |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:securityTitleItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the Exchange on which a security is registered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
| Name: |
dei_SecurityExchangeName |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarExchangeCodeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Section 14a
-Number 240
-Subsection 12
| Name: |
dei_SolicitingMaterial |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
| Name: |
dei_TradingSymbol |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:tradingSymbolItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
| Name: |
dei_WrittenCommunications |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
Cara Therapeutics (NASDAQ:CARA)
Historical Stock Chart
Von Okt 2024 bis Nov 2024
Cara Therapeutics (NASDAQ:CARA)
Historical Stock Chart
Von Nov 2023 bis Nov 2024
