In the first nine months of 2018, Cara Therapeutics (CARA) reported a net income and EPS of -$53.4 million and -$1.54, respectively—compared to -$43.9 million and -$1.43 in the same period the previous year.
In the third quarter, Cara Therapeutics reported a net income and EPS of -$19.4 million and -$0.51, respectively—compared to -$12.44 million and -$0.38 in the third quarter of 2017.
Analysts expect Cara Therapeutics to report a net income and EPS of -$22.46 million and -$0.58, respectively, in the fourth quarter. Analysts also expect the company’s net income and EPS to be around -$76.10 million and -$2.16, respectively, in fiscal 2018.
Cara Therapeutics’ peer in the biopharmaceuticals market, INSYS Therapeutics (INSY) reported a net income of -$30.58 million in the third quarter. GW Pharmaceuticals (GWPH) reported a net income of -$295.17 million in fiscal 2018.
On January 7, Cara Therapeutics announced that it enrolled patients for conducting its KALM-1 phase 3 trial of the Korsuva injection. Cara Therapeutics is conducting the phase 3 trial to evaluate the safety and efficacy of Korsuva in treating hemodialysis patients with moderate to severe pruritis.
On January 2, the company stated that in accordance with the recommendation from the IDMC (Independent Data Monitoring Committee), the KALM-1 trial should be continued as planned. No changes are necessary concerning the enrolment of 350 target patients. The IDMC made the decision based on interim statistical analysis of the KALM-1 phase 3 trial of Korsuva in individuals with moderate to severe chronic kidney disease related to pruritis.