Cara Therapeutics shares are trading lower after the company announced the outcome from the dose-finding Part A of the KOURAGE-1 study evaluating the efficacy and safety of oral difelikefalin for moderate-to-severe pruritus in adult patients with notalgia paresthetica. Also, Needham and HC Wainwright downgraded their respective ratings on the stock.
Portfolio Pulse from Benzinga Newsdesk
Cara Therapeutics shares are trading lower following the announcement of the KOURAGE-1 study results for oral difelikefalin and subsequent downgrades by Needham and HC Wainwright.
June 13, 2024 | 12:03 pm
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NEGATIVE IMPACT
Cara Therapeutics shares are trading lower after the company announced the outcome from the KOURAGE-1 study for oral difelikefalin. Additionally, Needham and HC Wainwright downgraded their ratings on the stock.
The negative outcome from the KOURAGE-1 study and subsequent downgrades by two analysts are likely to exert downward pressure on Cara Therapeutics' stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100