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Cara Therapeutics Inc (NASDAQ:CARA) popped more than 32 percent Wednesday morning after management reported positive top-line data for a drug candidate.
What Happened
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A Phase 2/3 trial of intravenous CR845 in abdominal surgery patients achieved primary endpoints for pain relief and secondary endpoints for nausea and vomiting reduction.
Why It’s Important
The drug could be the first approved kappa opioid receptor agonist, which selectively targets such receptors to mitigate potentially addictive properties.
"As there continues to be a critical need for new post-surgical analgesics like I.V. CR845 that lack abuse potential and traditional mu opioid side effects, we will be assessing all options, including discussions with regulators, as to how to best move this program forward,” Derek Chalmers, Cara's president and CEO, said in a press release.
What’s Next
Cara will present the full trial results at a future conference.
The stock was rallyin 29.56 percent premarket Wednesday.
Related Links:
Cara Therapeutics Shares Jump On Licensing Deal For Pruritis Treatment
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.