Cara Therapeutics Inc. (NASDAQ:CARA)
Cara Therapeutics is a small clinical-stage biotechnology company with a market cap currently under $700 million. They are currently working on a drug to be used for treating chronic kidney disease-associated pruritus (CKD-aP) which affects a majority of dialysis patients. The company has recently partnered up with Vifor Fresenius Medical Care Renal Pharma for a $50 million cash-up-front deal for the commercial rights of their CKD-aP drug. The deal also includes tiered roalties and milestone payments up to $470 million to the company based on sales.
Vifor Fresenius Medical Care Renal Pharma is a joint venture between two larger players in the industry, Vifor Pharma Group and Fresenius Medical Care.
In the short-term shares of CARA have been on the rise since the end of May. In the long-term, shares have followed a definable up trend and is currently looking to break its last high-high of $28.50. Shares are still climbing and are currently up over 10% on the week.
Biogen Inc. (NASDAQ:BIIB)
Biogen Inc. is another biotech company that has caught our attention in recent months with their industry-leading multiple sclerosis (MS) treatments. The company has returned a lot of cash to investors and has a solid trial pipeline to add to that. On August 2nd this year, Biogen’s Board of Directors authorized a buyback program to repurchase up to $3.5 billion in common stock. Back in 2015, the company began trials with its Alzheimer’s disease candidate. Currently, Aducanumab, is in phase 3 of their trials with roughly 1605 participants. If the drug proves medically significant and is subsequently approved by all governing authorities, this could open up Biogen to a completely new market.
The Alzheimer’s disease market has been projected to reach $14.8 billion in sales by 2026 while the multiple sclerosis market is already at $21.5 billion for the year of 2017.
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