Cara Therapeutics, Inc (CARA) saw its loss widen to $11.54 million, or $0.42 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $4.79 million, or $0.19 a share. The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $2.44 million for the previous year period.
Operating loss for the quarter was $11.77 million, compared with an operating loss of $5.01 million in the previous year period.
“We are pleased to be actively enrolling late stage studies with both IV and oral formulations of CR845 for three significant unmet medical indications,” said Derek Chalmers, Ph.D., D.Sc., President and Chief Executive Officer of Cara Therapeutics. “2017 will be an exciting and transformative year for the Company as we look forward to sharing top-line data from all three of our late-stage clinical programs.”
Working capital drops significantly
Cara Therapeutics, Inc has witnessed a decline in the working capital over the last year. It stood at $70.19 million as at Sep. 30, 2016, down 37.50 percent or $42.11 million from $112.31 million on Sep. 30, 2015. Current ratio was at 11.28 as on Sep. 30, 2016, down from 34.29 on Sep. 30, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
