Cara Therapeutics announces exploration of strategic alternatives

Cara Therapeutics has engaged Piper Sandler & Co. to act as its financial advisor for the process of exploring and reviewing strategic alternatives. There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions, or as to the timing of any such agreements or transactions. Cara Therapeutics does not intend to discuss or disclose further developments regarding the exploration of strategic alternatives unless and until its Board of Directors has approved a specific action or otherwise determined that further disclosure is appropriate or required by law. As of March 31, 2024, the Company had approximately $70 million in cash, cash equivalents, and marketable securities.