Exhibit 99.2
Cara Therapeutics Announces Closing of Its Public Offering of Common Stock and
Full Exercise of Underwriters’ Option to Purchase Additional Shares
STAMFORD, Conn., July 29, 2019– Cara Therapeutics, Inc. (Nasdaq: CARA), a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors, today announced the closing of its underwritten public offering of 6,325,000 shares of its common stock at a public offering price of $23.00 per share, which includes 825,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares. All of the shares in the offering were sold by Cara Therapeutics. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Cara Therapeutics, were approximately $145.5 million.
Cara Therapeutics intends to use the net proceeds from the underwritten offering to fund the activities leading to the submission of a new drug application to the U.S. Food and Drug Administration (FDA) for KORSUVA (CR845/difelikefalin) Injection for the treatment of pruritus associated with chronic kidney disease (CKD) in hemodialysis patients and subsequentpre-commercialization activities, and the advancement of its clinical programs for Oral KORSUVA, including completion of Phase 2 trials for the treatment of pruritus in patients with CKD (StageIII-V), patients with chronic liver disease and patients with atopic dermatitis, as well as for working capital and other general corporate purposes.
J.P. Morgan and Jefferies acted as lead joint book-running managers for the offering. Piper Jaffray & Co. and Stifel also acted as book-runners for the offering. Needham & Company and Janney Montgomery Scott acted asco-managers for the offering.
The offering was made only by means of a written prospectus supplement and prospectus forming part of a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). Copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866)803-9204, or by email atprospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877)821-7388, or by email at prospectus_department@jefferies.com; Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800)747-3924, or by email at prospectus@pjc.com; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415)364-2720, or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
