Cara Therapeutics, Inc. (CARA) saw its loss widen to $21.97 million, or $0.81 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $9.53 million, or $0.35 a share.
The company has not recorded any revenues for the current and previous period.
Operating loss for the quarter was $22.32 million, compared with an operating loss of $9.73 million in the previous year period.
"In 2016, we advanced our three late-stage trials in indications of high unmet need where existing therapies are ineffective or are limited by significant side effects and the high potential for abuse," said Derek Chalmers, Ph.D., D.Sc., president and chief executive officer of Cara Therapeutics. "We look forward to a transformative 2017, as we anticipate sharing efficacy data for CR845 in uremic pruritus, acute postoperative pain and chronic pain."
Working capital drops significantly
Cara Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $49.91 million as at Dec. 31, 2016, down 51.85 percent or $53.75 million from $103.67 million on Dec. 31, 2015. Current ratio was at 5.33 as on Dec. 31, 2016, down from 20.68 on Dec. 31, 2015.
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