Why Cara Therapeutics Stock Is Soaring Today

Shutterstock photo

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Cara Therapeutics (NASDAQ: CARA ) had a positive start to its Wednesday as the stock received good news regarding the latest clinical trial results of one of its medications.

Cara Therapeutics The Stamford, Conn.-based drug maker saw its shares soar as the company announced positive data in a Phase 2/3 trial of a treatment for pain in patients who are currently undergoing abdominal surgery. The company said that the trial of I.V. CR845 at the 1.0 mcg/kd dose resulted in a statistically significant reduction in pain intensity when compared with the placebo.

The Cara Therapeutics trial involved 228 patients who recently underwent ventral hernia surgery, as well as 216 patients who had a hysterectomy. The treatment also proved to be a success in reducing nausea and vomiting after surgery.

"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," Cara Therapeutics CEO Derek Chalmers said in a statement.

The company added that it will host a conference call at 8:30 a.m. Eastern Time Wednesday.

CARA stock was up about 11.6% on Wednesday following the news, sending the stock to a price of about $18.34 per share by mid-afternoon. The stock surged as much as 34% during pre-market trade before settling back down a bit.

More From InvestorPlace

Compare Brokers

The post Why Cara Therapeutics Stock Is Soaring Today appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: CARA

More from InvestorPlace Media


InvestorPlace Media

InvestorPlace Media

Investing, Financial News

Research Brokers before you trade

Want to trade FX?