Cara Therapeutics down on lower-than-expected Q4 sales

Tvardi Therapeutics

07/03/2023 09:56

** Cara Therapeutics Inc's  CARA.O  shares slide 31.8% to $6.8 - biggest
pct. loser across U.S. stock exchanges premarket 
    ** Drugmaker's Q4 revenue was $3.26 mln, missing analysts' estimates of
$16.25 mln - Refinitiv IBES data
    ** Q4 net loss was $30.3 mln, or $0.56/share, vs $33.4 mln, or $0.63/share
last year  urn:newsml:reuters.com:*:nGNXb32bB5
    ** Cash, cash equivalents and marketable securities at Dec. 31, 2022 totaled
$156.7 mln vs $236.8 mln at Dec. 31, 2021
    ** Brokerages including Piper Sandler, JP Morgan, Jefferies have cut PT
following results
    ** CARA was down ~12% last year

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))