Cara Therapeutics Inc (NASDAQ:CARA) shares are trading higher by 11.5% to 32 cents during Thursday’s session. The company earlier announced it engaged Piper Sandler & Co. as a financial advisor to explore strategic alternatives to enhance shareholder value.
CEO Christopher Posner stated that the company aims to evaluate various options while implementing a cost-containment and cash conservation plan. There is no guarantee that this process will lead to any agreements or transactions, and further updates will only be provided if the Board approves a specific ...