Cara tumbles after hours on clinical hold

Cara Therapeutics Inc. (NASDAQ:CARA) fell $2.91 (42%) to $4 in early after-hours trading after it said FDA placed a protocol clinical hold on its Phase III trial of IV CR845 to treat acute postoperative pain.

Cara said four of 22 patients treated with high-dose IV CR845 had serum sodium levels of at least 150 mmol/L, triggering a protocol-specified stopping rule. The placebo-controlled study is to enroll up to 600 patients. A total of 90 patients have received IV CR845 in three dose groups. ...