Stock Alert: Cara Therapeutics Stock Up 15% In Premarket

(RTTNews) - Shares of Cara Therapeutics Inc. (CARA) are rising above 15% in pre-market today, following the company's announcement of positive results from global KALM-2 pivotal phase 3 trial of KORSUVATM injection in Hemodialysis patients with Pruritus.

The company and Vifor Fresenius Medical Care Renal Pharma or VFMCRP today announced positive topline data from Cara's KALM-2 pivotal Phase 3 trial of KORSUVA Injection in Hemodialysis patients with moderate-to-severe chronic kidney disease-associated Pruritus or CKD-aP.

Derek Chalmers, President and Chief Executive Officer of Cara Therapeutics, said, "With these data in hand, we remain on track to submit our New Drug Application (NDA) for KORSUVA Injection in the second half of this year to the U.S. Food and Drug Administration (FDA) and, working with our partner Vifor Fresenius Medical Care Renal Pharma, plan to submit for Marketing Authorization Approval (MAA) to the European Medicines Agency (EMA) shortly thereafter."

The stock has been trading between $8.88 and $27.55 in the past one year, and closed Monday's trade at $14.82, up 16 cents or 1.09%. CARA is currently trading at $17.05, up $2.23 or 15.05% in the pre-market trading session.