Why Cara Therapeutics Shares Are Surging 23% Today

Why Cara Therapeutics Shares Are Surging 23% Today

Cara Therapeutics' (NASDAQ: CARA) stock is surging 23% higher at 3:30 p.m. EDT today after management reported second-quarter financial results yesterday that included an update to its clinical-stage drug development programs. 

Earlier this year, Cara Therapeutics reported data from a trial evaluating an IV formulation of its CR845 painkiller in chronic kidney disease patients with uremic pruritis, or chronic itch. The trial showed that eight weeks of treatment with IV CR845 reduced pain by 68% versus placebo on a 0-to-10 rating scale.

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Source: Fool.com