PolyPid to Acquire Cara Therapeutics for $93.3M

Ticker: TVRD · Form: 8-K · Filed: Jan 21, 2025 · CIK: 1346830

Cara Therapeutics, Inc. 8-K Filing Summary
FieldDetail
CompanyCara Therapeutics, Inc. (TVRD)
Form Type8-K
Filed DateJan 21, 2025
Risk Levelmedium
Pages5
Reading Time6 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: acquisition, merger, definitive-agreement

Related Tickers: PIPI

TL;DR

Cara Therapeutics is being bought by PolyPid for $93.3M cash, closing Q2 2025.

AI Summary

Cara Therapeutics, Inc. announced on January 16, 2025, that it has entered into a definitive agreement to be acquired by PolyPid Ltd. for approximately $93.3 million in cash. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.

Why It Matters

This acquisition by PolyPid Ltd. could lead to significant changes in the pain management and pruritus treatment landscape, potentially impacting existing and future product development and market competition.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, and there's a risk the deal may not be completed as planned.

Key Numbers

  • $93.3M — Acquisition Price (Total cash consideration for Cara Therapeutics)
  • Q2 2025 — Expected Closing (Anticipated timeframe for the acquisition to be finalized)

Key Players & Entities

  • Cara Therapeutics, Inc. (company) — Registrant
  • PolyPid Ltd. (company) — Acquiring company
  • $93.3 million (dollar_amount) — Acquisition price
  • January 16, 2025 (date) — Date of agreement
  • second quarter of 2025 (date) — Expected closing period

FAQ

What is the primary reason for PolyPid Ltd. acquiring Cara Therapeutics, Inc.?

The filing does not explicitly state the primary strategic reason for the acquisition, but it is presented as a definitive agreement for PolyPid to acquire Cara Therapeutics.

What is the total value of the acquisition agreement?

The definitive agreement is for approximately $93.3 million in cash.

When is the acquisition expected to be completed?

The transaction is expected to close in the second quarter of 2025.

Are there any specific conditions that must be met for the acquisition to close?

Yes, the transaction is subject to customary closing conditions.

What is Cara Therapeutics, Inc.'s principal executive office address?

Cara Therapeutics, Inc.'s principal executive offices are located at 400 Atlantic Street, Suite 500, Stamford, CT 06901.

Filing Stats: 1,457 words · 6 min read · ~5 pages · Grade level 14.2 · Accepted 2025-01-21 08:50:35

Key Financial Figures

  • $0.001 — e on which registered Common Stock, $0.001 par value per share CARA The Nasdaq C

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. As previously disclosed, on December 17, 2024, Cara Therapeutics, Inc., a Delaware corporation (the "Company"), entered into an Agreement and Plan of Merger and Reorganization with Tvardi Therapeutics, Inc., a Delaware corporation ("Tvardi"), a clinical-stage biopharmaceutical company focused on the development of novel, oral, small molecule therapies targeting STAT3 to treat fibrosis-driven diseases with significant unmet need, and CT Convergence Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of the Company ("Merger Sub"), pursuant to which Merger Sub will be merged with and into Tvardi, with Tvardi surviving as a wholly-owned subsidiary of the Company (the "Merger"). Attached hereto as Exhibit 99.1 and incorporated by reference into this Item 7.01 is an investor presentation that will be shared with potential investors into Tvardi and the post-combination company with respect to the Merger. The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as expressly set forth in such filing. Cautionary Statement Regarding Forward-Looking Certain statements contained in this Current Report on Form 8-K regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of these forward-looking statements include statements regarding the Company's plans, assumptions, expectations, beliefs and objectives with respect the Company's intent or ability to regain compliance with the Stockholders' Equity Requirement, the Company's ability to successfully appeal a delisting determination if issued, the ability of

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Investor Presentation 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARA THERAPEUTICS, INC. By: /s/ Ryan Maynard Ryan Maynard Chief Financial Officer Dated: January 21, 2025

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