Why Cara Therapeutics Stock Is Soaring Today

Cara Therapeutics (NASDAQ:CARA) had a positive start to its Wednesday as the stock received good news regarding the latest clinical trial results of one of its medications.

Cara Therapeutics
Source: iStock

The Cara Therapeutics trial involved 228 patients who recently underwent ventral hernia surgery, as well as 216 patients who had a hysterectomy. The treatment also proved to be a success in reducing nausea and vomiting after surgery.

“As there continues to be a critical need for new post-surgical analgesics like I.V. CR845 that lack abuse potential and traditional mu opioid side effects, we will be assessing all options, including discussions with regulators, as to how to best move this program forward,” Cara Therapeutics CEO Derek Chalmers said in a statement.

The company added that it will host a conference call at 8:30 a.m. Eastern Time Wednesday.

CARA stock was up about 11.6% on Wednesday following the news, sending the stock to a price of about $18.34 per share by mid-afternoon. The stock surged as much as 34% during pre-market trade before settling back down a bit.

Article printed from InvestorPlace Media, https://investorplace.com/2018/06/cara-therapeutics/.

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