(RTTNews) - Shares of Cara Therapeutics, Inc. (CARA) are climbing more than 3% Tuesday morning on signing license agreement with Vifor Pharma to commercialize IV Korsuva, Cara's late-stage drug in chronic kidney disease-associated pruritus(CKD-aP).
According to the terms of the agreement, Cara will share 60% profit and Vifor 40%. Cara will also receive an upfront payment of $100 million in cash and an equity investment of $50 million.
In addition, Cara will be eligible to receive an additional equity investment upon the FDA approval of IV Korsuva, as well as milestone payments, on achieving targets of up to $290 million.
Cara Therapeutics plans to submit New Drug Application (NDA) for Korsuva to the FDA in the fourth quarter of this year.
CARA stock is currently trading at $14.40. It has traded in the range of $8.88- $26.67 in the past one year.
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