Cara Therapeutics rises after announcement of reverse stock split

ReutersApr 14, 2025 4:36 PM

Shares of biopharma firm Cara Therapeutics CARA.O rise 14.5% to $5.61

Cara says that its board has approved a 1-for-3 reverse stock split, effective April 15

Cara entered into a merger agreement with privately held Tvardi Therapeutics in December

The stock split will be under the new name Tvardi Therapeutics Inc and symbol "TVRD" after the anticipated closing of the merger

After the closing of the merger, the combined company's total outstanding shares are expected to be about 9.4 million

As of last close, CARA had fallen 14.2% YTD

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