Why Cara Therapeutics Inc (CARA) Stock Is Plunging Today

Cara Therapeutics Inc (NASDAQ:CARA) stock was hit hard on Friday following the results from a Phase 2b trial.

Why Cara Therapeutics Inc (CARA) Stock Is Plunging Today

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The Phase 2b trial was for Cara Therapeutics Inc’s CR845. CR845  is an oral drug that is in development to treat patients with osteoarthritis of the knee or hip. The study took place over a period of eight weeks and there were 476 patients that took part in it.

The bad news for CARA stock came from the results of the 1.0 mg and 2.5 mg doses of CR845. The doses were taken twice a day over the eight week period of the study. However, patents taking them saw no significant reductions in mean joint pain scores when compared to those on a placebo.

The 5.0 mg does of the drug was also administered to patients twice a day for eight weeks. It fared slightly better than the other two doses. This includes a 62% improvement from baseline WOMAC scores in hip patients.

When it comes to adverse effects of CR845, the 1.0 mg and 2.5 mg doses were well tolerated. The 5.0 dose did see some adverse effects, but they weren’t major. This includes dry mouth in 6% of patients and constipation in 12% of them.

“The drug was observed to be well tolerated over the treatment period and this overall data set will inform both our dose selection and patient population in designing our next trial of oral CR845 in OA patients,” Joseph Stauffer, CMO of Cara Therapeutics Inc, said in a statement.

CARA stock was down 33% as of noon Friday, but is up 86% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2017/06/cara-therapeutics-inc/.

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