CARA - Cara Therapeutics shares jump 10% on Q3 earnings beat cash position update

Cara Therapeutics (NASDAQ:CARA) shares rose more than 10% post market after the company reported third-quarter earnings that beat Wall Street estimates and provided an update on its cash position. Quarterly revenue more than doubled to $20.27M, beating analysts' average estimate by $9.06M. Cash, cash equivalents and marketable securities at September 30, 2021 totaled $193.4M compared to $251.5M at December 31, 2020. Cara expects that its existing unrestricted cash and cash equivalents and available-for-sale marketable securities will be sufficient to fund its currently anticipated operating expenses and capital expenditures through 2023. For the three months ended September 30, 2021, net loss was $1M, or $0.02 per share, compared to a net loss of $16.5M, or $0.35 per share, for the same period in 2020. Previously (Nov. 8): Cara Therapeutics EPS beats by $0.40, beats on revenue.

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Cara Therapeutics shares jump 10% on Q3 earnings beat, cash position update