Shares of Cara Therapeutics Inc CARA tanked in early trading on Thursday, with the Dow shedding more than 100 points.
Cara Therapeutics (NASDAQ: CARA ) stock is falling hard on Thursday after the development-stage biopharmaceutical company announced new data from a clinical trial. This data comes from the company's Part A KOURAGE-1 study.
Cara Therapeutics said on Wednesday it will discontinue a mid-to-late stage study for a neurological condition that causes itching after its experimental drug did not demonstrate a meaningful clinical benefit compared to placebo.