Cara Therapeutics (NASDAQ:CARA) spotted trading -11.98% off 52-week high price. On the other end, the stock has been noted 98.93% away from the low price over the last 52-weeks. The stock changed 2.19% to recent value of $24.25. The stock transacted 534233 shares during most recent day however it has an average volume of 891.58K shares. The company has 44.99M of outstanding shares and 42.06M shares were floated in the market.
On Aug.21, 2019, Enteris BioPharma, a biotechnology company developing innovative drug products built around its proprietary oral peptide delivery technologies, announced its entry into a definitive licensing agreement with Cara Therapeutics (NASDAQ:CARA) for Enteris’ Peptelligence® technology in the ongoing development of an oral formulation of Cara’s first-in-class KOR agonist, CR845/difelikefalin (KORSUVA™). Peptelligence®is Enteris’ proprietary platform for the oral delivery of peptides and BCS class II, III and IV small molecules.
The oral tablet formulation of KORSUVA™ (Oral KORSUVA™) was engineered using Peptelligence®. Oral KORSUVA™ is currently the subject of three separate Phase 2 clinical trials for pruritis in patients with hepatic impairment due to primary biliary cholangitis (PBC), stage III-V chronic kidney disease (CKD), and atopic dermatitis (AD). The agreement reported will allow Cara to continue its Oral KORSUVA™ programs into Phase 3 and beyond.
Under the terms of the deal, Enteris granted to Cara Therapeutics a non-exclusive, royalty-bearing license to the Peptelligence® technology to develop, manufacture and commercialize Oral KORSUVA™ worldwide, excluding Japanand South Korea. In exchange, Enteris will receive an upfront payment equal to $8 million, with 50% payable in cash and 50% payable in shares of Cara’s common stock. Cara is also obligated to pay Enteris milestone payments upon the achievement of certain development, regulatory and commercial milestones and low-single digit royalties based on net sales in the licensed territory. Cara retains the right to buy-out the royalty obligation for a period of two years under prespecified conditions.
This is a watershed moment for Enteris and our Peptelligence® platform, and we greatly welcome the opportunity to deepen our relationship with Cara Therapeutics in the ongoing development of its Oral Korsuva™ pipeline, said Joel Tune, CEO of Enteris BioPharma. The ability of our Peptelligence® platform to enable the oral delivery of peptide therapeutics, such as CR845/difelikefalin, is a potential game-changer for numerous peptide and small molecule-based drugs in development and on the market given the convenience and marketability of an orally administered tablet in comparison to an injection. With Cara now actively evaluating Oral KORSUVA™ in three separate Phase 2 clinical trials for differing pruritis indications, evidence continues to mount suggesting that Peptelligence® not only offers the ability to maximize the performance and patient-acceptance of peptide therapeutics, but that entire franchises could be developed around our technology.
Its earnings per share (EPS) expected to touch remained -99.70% for this year.
According to the most recent quarter its current ratio was 3.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 4.15% from the mean of 20 days, 7.37% from mean of 50 days SMA and performed 28.81% from mean of 200 days price. Company’s performance for the week was 5.30%, -4.83% for month and YTD performance remained 86.54%.
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