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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Current assets:            
Cash and cash equivalents $ 11,439 $ 31,614   $ 22,919    
Total current assets 23,458 31,686   26,158    
Property and equipment, net 76 84   116    
Total assets 27,809 35,199   27,001    
Current liabilities:            
Operating lease liability - current 106 103   93    
Total current liabilities 6,998 10,367   3,281    
Operating lease liabilities, non-current 174 201   275    
Total liabilities 42,931 40,827   3,556    
Commitments and contingencies (Note 16)      
Stockholders' equity:            
Common stock, $0.001 par value; 58,251,629 shares authorized as of December 31, 2024 and 2023; 19,197,914 and 19,134,164 shares issued and outstanding as of December 31, 2024 and 2023, respectively 19 19   19    
Accumulated deficit (101,815) (92,236)   (62,839)    
Accumulated other comprehensive loss 2          
Total stockholders' deficit (100,625) (91,131) $ (66,174) (62,058) $ (45,051)  
Total liabilities, redeemable convertible preferred stock, and stockholders' deficit 27,809 35,199   27,001    
Cara Therapeutics, Inc.            
Current assets:            
Cash and cash equivalents 34,217 37,903   51,775    
Marketable securities       48,983    
Accounts receivable, net - related party 1,229 407   2,765    
Inventory, net 900 900   2,821    
Income tax receivable       697    
Other receivables 1,009 4,088   555    
Prepaid expenses 1,592 529   8,154    
Total current assets   43,827   116,158    
Property and equipment, net       3,322    
Restricted cash, non-current 0 0   1,500    
Total assets 38,947 43,827   125,844    
Current liabilities:            
Accounts payable and accrued expenses 1,199 3,972   25,592    
Total current liabilities 1,199 3,972   25,592    
Liability related to sales of future royalties and milestones, net 45,821 44,448   37,079    
Operating lease liabilities, non-current       6,088    
Total liabilities 47,020 48,420   68,759    
Commitments and contingencies (Note 16)      
Stockholders' equity:            
Preferred stock; $0.001 par value; 5,000,000 shares authorized at March 31, 2025 and December 31, 2024, zero shares issued and outstanding at March 31, 2025 and December 31, 2024      
Common stock, $0.001 par value; 58,251,629 shares authorized as of December 31, 2024 and 2023; 19,197,914 and 19,134,164 shares issued and outstanding as of December 31, 2024 and 2023, respectively 2 2   2    
Additional paid-in capital 752,443 751,017   742,088    
Accumulated deficit (760,518) (755,612)   (684,745)    
Accumulated other comprehensive loss   (260)    
Total stockholders' deficit (8,073) (4,593) $ 29,803 57,085 $ 158,779 $ 227,522
Total liabilities, redeemable convertible preferred stock, and stockholders' deficit $ 38,947 $ 43,827   $ 125,844