CARA THERAPEUTICS Reports Second Quarter Earnings Results for FY2023
August 13, 2023
🌥️Earnings Overview
On August 7, 2023, CARA THERAPEUTICS ($NASDAQ:CARA) announced its second quarter FY2023 financial results (ending June 30, 2023). Total revenue for the quarter was USD 6.9 million, a decrease of 69.9% year-over-year. Net income for the quarter was USD -31.5 million compared to -4.2 million in the same period of last year.
Market Price
The stock opened at $3.1 and closed at $3.0, a decrease of 5.8% from its last closing price of $3.1. This represented a slight decrease from the cash and cash equivalents it had reported during the previous quarter. Going forward, CARA THERAPEUTICS stated that it is committed to continuing to reduce costs and drive efficiency across the organization in order to maximize shareholder value. The company also noted that it had made an additional investment in its clinical development activities during the quarter and that it is continuing to advance its pipeline of potential treatments for patients with pain and pruritus (itching). Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cara Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 27.17 | -111.66 | -410.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cara Therapeutics. More…
| Operations | Investing | Financing |
| -103.77 | 116.11 | 0.69 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cara Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 134.39 | 25.46 | 2.01 |
Key Ratios Snapshot
Some of the financial key ratios for Cara Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.2% | – | -423.8% |
| FCF Margin | ROE | ROA |
| -381.9% | -58.6% | -53.5% |
Analysis
At GoodWhale, we recently conducted an analysis of CARA THERAPEUTICS’ financial and business wellbeing. Based on our Risk Rating, we concluded that CARA THERAPEUTICS is a high risk investment. We have detected 3 risk warnings in their balance sheet, cashflow statement, and financial journal. To check out our findings in more detail, register on goodwhale.com and find out more. More…
Peers
The company’s main competitors are InflaRx NV, Seagen Inc, and Mabion SA.
– InflaRx NV ($NASDAQ:IFRX)
InflaRx NV is a clinical stage biopharmaceutical company focused on leveraging the power of the body’s innate immune system to develop next-generation therapies. The company’s lead product candidate is anafilumab, a monoclonal antibody that inhibits the activity of interleukin-1 beta (IL-1β), a key driver of the inflammatory response. InflaRx is currently evaluating anafilumab in a Phase III clinical trial in patients with hidradenitis suppurativa (HS), a chronic, debilitating skin disease characterized by recurrent abscesses and scarring. If approved, anafilumab would be the first therapy specifically designed to target IL-1β in HS.
InflaRx NV has a market capitalization of 118.02 million as of 2022 and a return on equity of -24.21%. The company is focused on developing next-generation therapies that leverage the body’s innate immune system. The company’s lead product candidate is anafilumab, a monoclonal antibody that inhibits the activity of interleukin-1 beta (IL-1β). InflaRx is currently evaluating anafilumab in a Phase III clinical trial in patients with hidradenitis suppurativa (HS), a chronic, debilitating skin disease characterized by recurrent abscesses and scarring.
– Seagen Inc ($NASDAQ:SGEN)
Seagen Inc is a biotechnology company that focuses on the development and commercialization of therapies for the treatment of cancer. The company has a market cap of $23.88 billion as of 2022 and a return on equity of -15.52%. Seagen Inc’s therapies are designed to target specific types of cancer, including breast, lung, and prostate cancer. The company’s products are approved for use in the United States, Europe, and Japan.
– Mabion SA ($LTS:0QGW)
Mabion SA is a Polish company that manufactures and markets biotechnology products. The company has a market cap of 329.85M as of 2022 and a return on equity of 23.01%. Mabion’s products include vaccines, blood products, and biopharmaceuticals. The company has been in operation for over 20 years and has a strong presence in Central and Eastern Europe.
Summary
CARA THERAPEUTICS has recently reported its second quarter earnings for FY2023, showing a 69.9% decrease in total revenue compared to the same period last year. Net income was USD -31.5 million, compared to last year’s USD -4.2 million. This has led to a corresponding decrease in the stock price of CARA THERAPEUTICS.
While the current financials of CARA present a bleak outlook for investors, it is important to note that due to the company’s focus on the development of novel therapeutics, long-term growth potential should not be dismissed. It is therefore recommended that potential investors undertake a thorough analysis of the company before investing.
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