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Cara Therapeutics Inc. (CARA) Jumped On Positive Study Results

Cara Therapeutics Inc. (CARA) announced Wednesday morning that its Phase 2/3 trial of I.V. CR845 in patients undergoing abdominal surgeries demonstrated statistically significant reductions in pain intensity compared to placebo.

Cara Therapeutics gapped open sharply higher Wednesday, but pared its gains over the course of the day. Shares held on to a gain of 1.62 at $18.06 on above average volume. The stock jumped to nearly a 52-week high.

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