BUZZ-Cara Therapeutics rises after announcement of reverse stock split
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Shares of biopharma firm Cara Therapeuticsrise 14.5% to $5.61Cara says that its board has approved a 1-for-3 reverse stock split, effective April 15Cara entered into a merger agreement with privately held Tvardi Therapeutics in DecemberThe stock split will be under the new name Tvardi Therapeutics Inc and symbol “TVRD” after the anticipated closing of the mergerAfter the closing of the merger, the combined company’s total outstanding shares are expected to be about 9.4 millionAs of last close, CARA had fallen 14.2% YTD
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