CARA - Cara Therapeutics stock soars after Q1 earnings beat optimism over Korsuva U.S. launch

Shares of Cara Therapeutics (NASDAQ:CARA) have added 23.4% to $9.20 in Tuesday afternoon trading, after the biopharmaceutical company reported Q1 2022 earnings that beat estimates. CARA posted Q1 GAAP EPS of -$0.52 which beat estimates by $0.10, and revenue of $4.79M which beat by $2.53M.  The U.S. commercial launch of CARA's Korsuva injection that began in April and is being led by CARA's partner Vifor Pharma is likely to bolster revenue for the company going forward. The company's Q1 revenue came entirely from commercial supply revenue related to sales of Korsuva injection to Vifor Pharma. "The first few weeks of Korsuva injection U.S. launch have proceeded as planned," said CARA CEO Christopher Posner on the earnings conference call. "Looking ahead, in the second quarter, we expect to share more quantitative metrics for you to track our progress. We will disclose net sales of Korsuva injection as well as Cara’s revenue of the

For further details see:

Cara Therapeutics stock soars after Q1 earnings beat, optimism over Korsuva U.S. launch