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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities          
Net loss $ (9,579) $ (4,202) $ (29,397) $ (17,347)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock-based compensation expense 80 81 319 314  
Impairment of long-lived assets     0 0  
Depreciation and amortization 24 24 95 95  
Accretion of available-for-sale marketable securities, net (71)     (194)  
Changes in operating assets and liabilities:          
Accounts payable and accrued expenses (2,644) (257) 5,567 (1,008)  
Operating lease liabilities (24) (22) (93) (82)  
Net cash used in operating activities (7,689) (4,138) (18,305) (21,040)  
Investing activities          
Net cash used in investing activities (10,883)     22,468  
Financing activities          
Proceeds from the exercise of stock options 3 5 5 2  
Net cash (used in) provided by financing activities (1,603) 5 27,000 2  
Cash and cash equivalents - beginning of period 31,614 22,919 22,919 21,489  
Cash and cash equivalents - end of period 11,439 18,786 31,614 22,919 $ 21,489
Cara Therapeutics, Inc.          
Operating activities          
Net loss (4,906) (30,696) (70,867) (118,513) (85,474)
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock-based compensation expense 1,426 3,345 8,929 13,730 17,734
Non-cash interest expense on liability related to sales of future royalties and milestones, net of issuance costs accretion 2,867 1,982 8,473 604  
Impairment of long-lived assets     4,274 0 0
Inventory write-down     2,963    
Depreciation and amortization 0 42 192 259 248
Noncash lease expense   269 766 2,075 1,422
Accretion of available-for-sale marketable securities, net   (510) (543) (400) 264
Changes in operating assets and liabilities:          
Accounts receivable, net - related party (822) 1,047 2,358 495 (3,260)
Inventory   80 (1,042) (438) 201
Income tax receivable     697    
Other receivables 579 49 (1,034) (59) (41)
Prepaid expenses (1,063) 2,364 7,625 8,113 (13,748)
Accounts payable and accrued expenses (2,773) (10,151) (21,439) 3,275 5,679
Operating lease liabilities     (4,363) (1,918) (1,755)
Reimbursement of lease incentive   1,726 2,094 807  
Other       (108)  
Net cash used in operating activities (4,692) (30,453) (60,917) (92,078) (78,730)
Investing activities          
Proceeds from maturities of available-for-sale marketable securities   59,000 82,000 155,441 220,435
Proceeds from redemptions of available-for-sale marketable securities, at par       4,000 4,000
Purchases of available-for-sale marketable securities   (32,213) (32,213) (113,605) (95,685)
Purchases of property and equipment   (836) (1,046) (2,375) (43)
Net cash used in investing activities   25,951 48,741 43,461 128,707
Financing activities          
Proceeds from milestone received from royalty purchase and sale agreement 2,500        
Payments to royalty purchase and sale agreement (1,494) (685) (3,604)    
Net proceeds from sales of common stock under open market sales agreement       1,117  
Proceeds from the exercise of stock options       560 311
Net cash (used in) provided by financing activities 1,006 (685) (3,604) 38,151 311
Net decrease in cash, cash equivalents and restricted cash (3,686) (5,187) (15,780) (10,466) 50,288
Cash and cash equivalents - beginning of period 37,903 53,683 53,683 64,149 13,861
Cash and cash equivalents - end of period $ 34,217 48,496 37,903 53,683 $ 64,149
Noncash investing and financing activities          
Receivable for additional HCR financing earned     2,500    
Incremental right-of-use asset in exchange for non-cash lease liability from modification of lease     3,417    
Transfer of property and equipment per lease assignment     (3,417)    
Initial direct costs included as right-of-use asset from modification of lease     $ 577    
Accrual for leasehold improvements   $ 211   $ 778