By Robb M. Stewart
Cara Therapeutics’ shares were sharply lower Monday after the biopharmaceutical company moved to discontinue its clinical program in pruritus associated with atopic dermatitis.
In recent trading, the shares were 49% lower at 63 cents, widening the drop so far this year to 94%. The stock touched a fresh 52-week low of 61 cents earlier in the session.
Cara said the dose-finding part A of its study evaluating the efficacy and safety of oral difelikefalin as adjunct therapy to topical corticosteroids for moderate-to-severe pruritus in adult patients with atopic dermatitis didn’t demonstrate a meaningful clinical benefit compared with topical corticosteroids alone.
Cara said oral difelikefalin was generally well tolerated with a safety profile similar to prior trials, and it believes there is no readthrough to other late-stage clinical programs for oral difelikefalin as monotherapy without topical corticosteroids in different indications and patient populations.
Late-stage oral difelikefalin clinical programs for pruritus associated with notalgia paresthetica and advanced chronic kidney disease continue to enroll on track, with key data readouts expected in the second half of next year, the company said.
Write to Robb M. Stewart at [email protected]
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