If just a single clinical trial works in favor of Cara Therapeutics, it could regain everything it’s recently lost and possibly hit a $1 billion market cap.
Tag Archives: CR845
In total, four marijuana stocks jumped higher by at least 10% last week. Let’s take a brief look at some of these moves.
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.
Shares of Cara Therapeutics Inc., a clinical-stage biotech company with a focus on treating pain and pruritus, rocketed higher by as much as 11% during Wednesday’s trading session after providing an update to its phase 3 trial involving kappa opioid receptor agonist CR845.
Cara Therapeutics has been phenomenal over the past couple of years, and it’s rightfully beginning to catch the attention of marijuana stock investors.
Although marijuana stocks have skyrocketed in the last couple of years, many investors have been understandably leery of jumping on board. Check out why investors might like these three stocks that don’t fit the mold of most marijuana stocks.