Cara Therapeutics rises after announcement of reverse stock split

Tvardi Therapeutics

14/04/2025 17:36

** Shares of biopharma firm Cara Therapeutics CARA.O rise 14.5% to $5.61

** Cara says that its board has approved a 1-for-3 reverse stock split, effective April 15

** Cara entered into a merger agreement with privately held Tvardi Therapeutics in December

** The stock split will be under the new name Tvardi Therapeutics Inc and symbol "TVRD" after the anticipated closing of the merger

** After the closing of the merger, the combined company's total outstanding shares are expected to be about 9.4 million

** As of last close, CARA had fallen 14.2% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))