By Will Feuer
Cara Therapeutics said it plans to reduce its workforce by about 50% and focus its resources on one of its clinical trials in a bid to slash costs.
Chief Scientific Officer Frédérique Menzaghi, who also serves as senior vice president of research and development, will exit the company, effective Feb. 2.
The biopharmaceutical company said the moves should extend its cash runway into 2026. The company said it will focus its resources on its Phase 2/3 clinical trial of oral difelikefalin in notalgia paresthetica.
The company will host a conference call at 8:30 a.m. ET to discuss the update.
Write to Will Feuer at [email protected]
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