For those of you who are not familiar with Cara Therapeutics (NASDAQ:CARA), it is a self-described "clinical-stage biotechnology company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors."
Given the opioid epidemic here in the United States, it's no wonder there's a company out there trying to treat pain with new technologies. As Jim Cramer says on Mad Money, "in many cases the cure can be worse than the disease."
If the biotech industry could treat pain with a less addictive drug, then patients will be better off.
Cara is currently working to develop a new class of drug candidates, led by CR845. CR845 targets the body's peripheral nervous system and has demonstrated efficacy in patients with moderate-to-severe pain in its Phase 2 trials. As Dr. Chalmers says, "we think this is a drug that can work across pain types."
As mentioned above, in addition to treating moderate to sever pain, the company is developing a drug to help the under-served market of patients afflicted with pruritus. Pruritus is defined as "an unpleasant sensation that provokes the desire to scratch," according to Medscape.
The company just recently raised money at its 52-week high, which was a great move to solidify the balance sheet of the company moving forward. These aforementioned drug trails are expensive. It takes years and years, and millions upon millions of dollars to bring a new drug to market.
As Cara's CEO Dr. Derek Chalmers mentions in his interview with Cramer, the company has raised now enough money to at least cover two of the indications for the drug. The funding covers the indication for uremic pruritus (chronic kidney disease) all the way through the new drug application. In addition, Cara will have the funding to take their drug's indication for acute post-surgical pain to market, which is currently in Phase 3 trials.
Learn more about Cara Therapeutics in the full video interview with the company's CEO, Dr. Derek Chalmers.
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