Cara Therapeutics, Inc. (NASDAQ:CARA) Q1 2023 Earnings Conference Call May 15, 2023 4:30 PM ET

Company Participants

Matt Murphy - Manager, IR

Christopher Posner - CEO

Ryan Maynard - CFO

Dr. Joana Goncalves - Chief Medical Officer

Conference Call Participants

Joseph Stringer - Needham and Company

Annabel Samimy - Stifel

David Amsellem - Piper Sandler

Chi Fong - Bank of America Securities

Sumant Kulkarni - Canaccord Genuity

Operator

Good afternoon. My name is Lateef, and I will be your conference facilitator. I would like to welcome everyone to the Cara Therapeutics First Quarter Financial Results and Update Conference Call. [Operator Instructions] Please be advised that this call is being recorded.

I would now like to introduce Matt Murphy, Cara's Manager of Investor Relations. Mr. Murphy, you may begin your call.

Matt Murphy

Thank you, operator, and good afternoon. Just after market close today, Cara issued a news release announcing the Company's financial and operating results for the first quarter 2023. Copies of this news release and the associated SEC filing can be found in the Investors section of our website at www.caratherapeutics.com.

Before we begin, let me remind you that during the course of this conference call, we will be making certain forward-looking statements about Cara and our programs based on management's current plans and expectations. These statements are being made under the Private Securities Litigation Reform Act of 1995, and are subject to risks and uncertainties.

Actual results may differ materially due to various factors, and Cara undertakes no obligation to update or revise these statements publicly as a result of new information or future results or developments. Investors should read the risk factors set forth in Cara's 10-K for the year ended December 31, 2022, and any subsequent reports filed with the SEC, including its Form 10-Q for the quarter ended March 31, 2023.

With that said, I'd like to turn the call over to Chris Posner, Cara's Chief Executive Officer. Chris?

Christopher Posner

Thanks, Matt. Good afternoon, everyone and thank you for joining our call. With me today are Ryan Maynard, our Chief Financial; and Dr. Joana Goncalves, our Chief Medical Officer.

I would like to start by giving a quick overview of what I will address today. For the update on the KORSUVA injection launch in the U.S., I will provide additional metrics that we are tracking to give better insight into the progress of demand and uptake. These will help to give some clarity and show the opportunity within the different customers and segments of the market. I will also review the launch progress in countries around the world. In addition, I will highlight our robust clinical sales pipeline and the advancement of our high value development programs for oral difelikefalin.