Cara Therapeutics Shares Surge 16% On Positive Results In Trial Of UP Treatment

Cara Therapeutics Inc. shares surged 16% in premarket trade Tuesday, after the biotech reported positive results in a trial of a treatment for uremic pruritus, or UP. UP is a debilitating systemic itch condition that affects patients with chronic kidney disease, the company said in a statement. There are currently no approved therapies for the condition in the U.S. The results from Part A of a phase 2 to 3 trial of I.V. CR845 met primary and secondary endpoints for efficacy, said Cara. The company is planning to meet with the U.S. Food and Drug Administration to finalize the design of Part B of the study and to start recruiting patients later this year. CR845 is being developed for the treatment of acute and chronic pain as well as UP. Cara shares have gained 95% in the year so far, while the S&P 500 has gained 4.6%.