Cara Therapeutics (CARA) announced that its board has approved a 1-for-3 reverse stock split of its outstanding shares of common stock. Cara’s common stock is expected to begin trading on a reverse stock split-adjusted basis at the opening of the market on Wednesday, April 16, under the new name Tvardi Therapeutics (TVRD) and new symbol “TVRD” following the anticipated closing of the merger with Tvard Therapeutics.
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