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UPDATE: Cara Therapeutics shares surge 13.7% premarket on positive trial results
Shares of Cara Therapeutics Inc. surged 13.7% in premarket trade Wednesday, after the company reported positive results in an early-stage trial of a treatment for chronic kidney disease-associated pruritus patients, or CKD-aP. Pruritus, or itch, is a common symptom for patients with chronic renal failure, affecting about half of those with stage 3 to 5 CKD. Cara said results from the Phase 1 trial of Oral CR845 in chronic kidney disease patients undergoing hemodialysis showed all four tablet strengths were well-tolerated on a daily basis or after dialysis three times a week. CR845 is a peripherally acting kappa opioid receptor agonist currently in development for the treatment of acute and chronic pain and pruritus, said Cara. Plasma levels of CR845 attained after oral administration of the 1.0 mg tablet strength were close to those attained with the 1.0 mcg/kg I.V. CR845 dose, "which demonstrated significant clinical benefit" in another recent trial, the company said. Frédérique Menzaghi, Ph.D., vice president of research and development at Cara, said the data will inform the design of a planned Oral CR845 pruritus clinical program in the non-dialysis CKD-aP population, which the company is planning to start later this year. Cara shares have gained 35% in 2017, while the S&P 500 has gained 8%.
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Cara reports mixed results from pain drug trial, shares plunge
Cara Therapeutics Inc(CARA) on Thursday reported mixed results from a pivotal trial testing the drug developer's chronic pain treatment in patients with osteoarthritis of the knee or hip. Shares of the company fell 21.6 percent to $20 after the bell. The drug developer was testing three dosages of the drug, CR845, against a placebo.
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