PhIII-focused Cara sees shares spike on its new ‘breakthrough’ status at the FDA
Cara Therapeutics $CARA has been through it all with their leading, late-stage program for IV CR845, a pain therapy that inspired an IPO, a swooning stock price when the IPO bubble burst and then a short, painful crash when the FDA dropped a clinical hold on it in early 2016.
That hold, though, was lifted two months later and this morning Cara saw its share price spike 16% on the FDA’s award of its breakthrough therapy designation for a painful itching condition called uremic pruritis in chronic kidney disease patients.
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