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Why Cara Therapeutics Shot Higher Today

TheMotleyFool

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Why Cara Therapeutics Shot Higher TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Cara Therapeutics (NASDAQ: CARA) was a hot stock on Tuesday. One of the formerly clinical-stage biotech's drug candidates won FDA approval, and investors reacted in the usual manner. The shares rose by as much as 28% on the day before settling down to a sub-3% gain near market close.

Many biotechs concentrate on afflictions that are considered serious and threatening. Cara's specialty is more prosaic, although still very much in need of solutions: pruritus, i.e., abnormally itchy skin.

Image source: Getty Images.

Source Fool.com

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