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CARA - Why Cara Therapeutics Stock Is Plunging Today
Cara Therapeutics Inc.
Shares of Cara Therapeutics(NASDAQ: CARA) had plunged 27.8% lower as of 10:54 a.m. EST on Tuesday. The big drop came after the drugmaker announced results from a phase 2 clinical study evaluating Oral Korsuva in treating chronic kidney disease (CKD) patients with moderate to severe pruritis (itching).
Cara said that Oral Korsuva met the primary endpoint of the study -- a statistically significant reduction in mean worst itching intensity numeric rating scale (WI-NRS) score after a 12-week treatment period. However, the drug didn't meet two secondary endpoints.