Cara Therapeutics down 8% after hours following Q4 2021 earnings misses
Mar. 01, 2022 5:37 PM ETCara Therapeutics, Inc. (CARA)By: Jonathan Block, SA News Editor1 Comment
- Shares of Cara Therapeutics (NASDAQ:CARA) are down 8% in after-hours trading after the company's Q4 2021 results missed on the top and bottom lines.
- In the quarter, the company swung to a net loss of $33.4M from net income of $78.9M in the year-ago period. Diluted EPS in the quarter was -$0.63 compared to $1.59 in Q4 2020.
- Revenue of $820K was a 99% year-over-year drop.
- Looking ahead, Cara (CARA) expects to launch Korsuva (difelikefalin) in the U.S. in April for moderate-to-severe pruritus associated with chronic kidney disease.
- This quarter, the company expects to start a phase 3 trial of oral Korsuva for atopic dermatitis.
- Cara (CARA) said its $236.8M in cash at the end of the year is enough to fund it through 2023.
- Read why Seeking Alpha contributor Aquarius Research considers Cara (CARA) a strong buy.