Cara calls it a day, teams up with Tvardi on antifibrotics

18 December 2024

Cara Therapeutics (Nasdaq: CARA) and Tvardi Therapeutics have announced a definitive agreement to merge, creating a new entity under the Tvardi name.

The reverse merger, an all-stock transaction, positions Tvardi to enter the public market while maintaining a focus on fibrosis-driven diseases. Tvardi shareholders will control 83% of the new company, while Cara shareholders will retain 17%.

Cara faced significant financial difficulties earlier this year, prompting a strategic pivot and a workforce reduction of 50%.

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