Cara Therapeutics Inc CARA shares are trading higher by only $1.00 at $19.15 in Tuesday's session. The issue is one of the top-performing biotech stocks of 2017 climbing from 2016 year-end close ($9.29) to $20.24 earlier in today's session.
The catalyst for the print over $20.00 was the announcement from the small-cap pharmaceutical company had encouraging results from Part A of a Phase2/3 trial for CR845, which is a therapy to alleviate pain.
Its much higher opening print of $20.24 has turned out to be the exact high for the session. That marks the highest level for Cara's stock since it peaked on September 25, 2015 at $20.32.
The ensuing decline has come within one penny of the top of Monday's range ($18.39) as $18.40 stands as the current low for the day.
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