Cara Therapeutics Stock Has Lost More Than Half Its Value in 2 Weeks

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Cara Therapeutics Stock Has Lost More Than Half Its Value in 2 Weeks

Pixabay / geralt / CC0 Public Domain

On June 27, Cara Therapeutics (NASDAQ:CARA), a clinical-stage biotech company with a focus on treating chronic pain and pruritus, surged to an all-time intraday high of $28.50 a share. Cara was just $73 million away from joining the $1 billon market cap ranks.

However, as of the closing bell on Friday, July 7, less than two weeks later, Cara’s share price had crumbled to $13.62. From intraday peak to closing trough, Cara’s stock has fallen by 52% and it’s shed more than $480 million in market value.

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