CARA Continues to Power Higher As Biotech Biz Sees Green Ahead
CARA is a stock we put on your screens back in late July. We have liked it ever since and updated the play on a number of occasions noting that we still see promise in this story.
How long can the bullish run continue on CARA? So far, the stock continues to tear up the chart, now up about 100% since we first put it in front of you. The story continues to be phase IIb clinical trial of its oral formulation of CR845 for the treatment of pain associated with osteoarthritis, as well as the company’s moves to develop other streams of IP.
In addition, the Nasdaq Biotechnology Index is screaming higher after the surprise defeat of Hillary Clinton in the US presidential race. Mrs. Clinton was slated to forcefully crack down on pricing strategies for drugs in the biotech space if elected. The fact that she did not win has been a major boon for the group, and helped to spur more big gains for CARA.
About Cara Therapeutics, Inc
Cara Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system. Its product candidate pipeline includes I.V. CR845 for acute pain; I.V. CR845 for uremic pruritus; Oral CR845, and CR701. The Company’s I.V. CR845 is an injectable version of peripheral kappa opioid receptor agonist, which is intended for the treatment of acute pain in an acute care setting. The Company is developing an oral version of CR845 for the treatment of moderate-to-severe acute and chronic pain. The Company’s CR701 is a peripherally-restricted, mixed-CB1/CB2 receptor agonist that interacts with cannabinoid receptor subtypes, with no off-target activities. CR701 is in preclinical-stage of development