Benzinga | Oct 20, 2020 03:30PM EDT

Why Cara Therapeutics Stock Is Trading Higher Today

Cara Therapeutics (NASDAQ:CARA) shares are trading higher on Tuesday after the company announced it has signed a U.S. license agreement with Vifor Pharma for IV Korsuva to treat dialysis patients with Pruritus.

Cara will receive an upfront payment of $100 million in cash and an equity investment of $50 million.

Cara Therapeutics Inc is an emerging biotechnology company involved in the development of novel therapeutics to treat human diseases associated with inflammation, pain, and pruritus. Cara's most advanced compound, CR845, aims to treat acute pain and pruritus. This patented compound has analgesic, anti-inflammatory, and antipruritic properties that can be used for multiple therapeutic applications.

Cara Therapeutics shares traded up 6.75% to $14.87 on Tuesday. The stock has a 52-week high of $26.67 and a 52-week low of $8.88.