Cara Therapeutics Announces Exploration of Strategic Alternatives

Core Viewpoint - Cara Therapeutics is committed to exploring strategic options to maximize shareholder value, with a focus on cost-containment and cash conservation as part of a streamlined operating plan [1]. Group 1: Strategic Review and Financial Advisory - The company has engaged Piper Sandler & Co. as its financial advisor to assist in exploring and reviewing strategic alternatives [2]. - There is no assurance that the exploration of strategic alternatives will lead to any agreements or transactions, and the company will not disclose further developments unless approved by its Board of Directors [3]. Group 2: Financial Position - As of March 31, 2024, Cara Therapeutics had approximately $70 million in cash, cash equivalents, and marketable securities [4]. Group 3: Company Overview - Cara Therapeutics is a biopharmaceutical company focused on transforming the treatment of pruritus, having developed an IV formulation of difelikefalin approved for treating moderate-to-severe pruritus associated with advanced chronic kidney disease in adults undergoing hemodialysis [5].