Cara Therapeutics announced positive statistically significant results in a phase 2/3 trial for its drug I.V. CR845 which goal is to reduce pain caused by abdominal surgeries. Cara Therapeutics is a small-cap stock, so getting the drug approved will likely have a significant impact on the stock price.
The company is considered highly speculative at this point, but it has demonstrated sufficient progress so investors with a high-risk appetite are keeping a close eye on it.
Cara has a promising pipeline of pain and itch relief drugs that have a large market opportunity if they can gain FDA approval. The company is also working on non-opioid pain relief drugs that have fewer side effects than post-op opioid derived pain drugs currently on the market.