Cara tries hard to spin the da­ta, but key PhI­Ib pain study fails and shares slide south

Cara Ther­a­peu­tics tried to spin the da­ta in its fa­vor, but all three dos­es of its lead drug CR845 flopped against a key end­point on pain for os­teoarthri­tis, in­clud­ing the high dose, leav­ing in­ves­ti­ga­tors try­ing to pol­ish up oth­er da­ta sets as an in­di­ca­tion of suc­cess.

The im­por­tant da­ta set that did work out was for pa­tients with os­teoarthri­tis of the hip who com­plet­ed an 8-week course of the high 5 mg dose. But even that was not a home run, with a p-val­ue on pain re­duc­tion of 0.043 com­pared to the place­bo arm. For all OA hip and knee pa­tients who com­plet­ed high-dose ther­a­py there was a failed p-val­ue of 0.111.

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