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Cara Therapeutics, Inc.: Business Overview, Financials & Competitive Analysis

Cara Therapeutics is a clinical-stage biopharmaceutical company specializing in novel therapeutics for chronic pruritus and pain by targeting peripheral kappa opioid receptors. The company's lead commercialized produc...

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4/ 10Challenged

Cyborg Score thesis

Early-stage biotech with differentiated mechanism addressing unmet need in pruritus, but faces capital constraints and execution...

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Industry Biopharmaceuticals / Specialty Therapeutics
3 named competitors
2 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 14, 2026
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Cara Therapeutics, Inc. Overview

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Cara Therapeutics is a clinical-stage biopharmaceutical company specializing in novel therapeutics for chronic pruritus and pain by targeting peripheral kappa opioid receptors. The company's lead commercialized product is KORSUVA (difelikefalin) injection, FDA-approved for treating moderate-to-severe pruritus in hemodialysis patients, with an oral formulation in Phase II/III trials for neuropathic pruritus.

Strategic Profile

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Cara leverages a differentiated mechanism targeting non-scheduled kappa opioid receptors, offering an alternative to traditional opioids without systemic side effects. The company has established partnerships with major pharma (Vifor Fresenius, Maruishi, Chong Kun Dang) for geographic expansion and commercial development, positioning itself uniquely in an underserved market with limited treatment options.

Competitive Landscape

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Cara operates in a specialized pruritus treatment market with limited direct competitors. The company competes with dermatological and pain management therapies that address itch symptoms through different mechanisms. Major players in adjacent pain/inflammation spaces (Allergan, Pfizer, Johnson & Johnson) represent indirect competition, though few have specific pruritus programs targeting kappa receptors.

Industry Context

Cara Therapeutics, Inc. operates in Biopharmaceuticals / Specialty Therapeutics.

Key facts

Founded: 2004 · Headquarters: Stamford, Connecticut · Market cap: $38M

What the analysts stress-tested

The top findings that survived the multi-agent debate for Cara Therapeutics, Inc..

  • KORSUVA has achieved FDA approval and commercialization, establishing proof-of-concept for peripheral kappa receptor targeting mechanism
  • Significant partnerships with major pharma (Vifor Fresenius for Middle East/Africa, Maruishi for Japan, Chong Kun Dang for Korea) provide geographic expansion and commercialization expertise
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Recent developments

Material events tracked by the AskCyborg corpus.

  • December 2024Announced 1-for-3 reverse stock split in connection with proposed merger with Tvardi Therapeutics
  • August 2021Received FDA approval for KORSUVA injection for moderate-to-severe pruritus in hemodialysis patients
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Topical corticosteroids and antihistaminesTraditional pruritus treatments with limited efficacy in CKD-related itch→Gabapentin and pregabalinOff-label neuropathic itch treatments lacking FDA indication→Emerging kappa agonist programsEarly-stage competitors pursuing similar peripheral kappa receptor mechanisms→

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Industry context

Cara Therapeutics, Inc. operates in Biopharmaceuticals / Specialty Therapeutics. See how the rest of the sector scores on the Cyborg framework.

Top companies in Biopharmaceuticals by Cyborg Score

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Frequently asked questions

What does Cara Therapeutics, Inc. do?+
Cara Therapeutics is a clinical-stage biopharmaceutical company specializing in novel therapeutics for chronic pruritus and pain by targeting peripheral kappa opioid receptors. The company's lead commercialized produc...
What is Cara Therapeutics, Inc.'s Cyborg Score?+
Cara Therapeutics, Inc. has a Cyborg Score of 4/10 (Challenged). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Cara Therapeutics, Inc.'s main competitors?+
Named competitors include Topical corticosteroids and antihistamines, Gabapentin and pregabalin, Emerging kappa agonist programs. The full competitive landscape is in the AskCyborg report.
How can I get the full Cara Therapeutics, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
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The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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