Deerfield Management Adds Cara Therapeutics Inc. (CARA) To Its Equity Portfolio

James E. Flynn’s Deerfield Management, in a filing with the Securities and Exchange Commission, reported a position in Cara Therapeutics Inc. (NASDAQ:CARA). The fund holds 350,000 shares of the Cara Therapeutics Inc. (NASDAQ:CARA), the stake amassing 1.55% of the common stock.

On Feb. 5, Cara Therapeutics Inc. (NASDAQ:CARA) announced the closing of its initial public offering of 5,750,000 shares of common stock at $11.00 per share. The offering included the exercise in full by the underwriters of their option to purchase up to 750,000 additional shares of common stock at the same price to cover over-allotments.

Including the sale of the additional shares from the option, the net proceeds to the company from the initial public offering were about $55.9 million, after deducting underwriting discounts and commissions and estimated offering expenses, according to a news release.

Cara Therapeutics Inc. (NASDAQ:CARA) is an emerging biotechnology company focused on developing novel therapeutics to treat human diseases associated with pain and inflammation. The company possesses both near-term clinical development opportunities combined with proprietary approaches to developing first-in-class novel therapeutics.

Recently, Deerfield reported adding KaloBios Pharmaceuticals Inc. (NASDAQ:KBIO) to its equity portfolio. The fund currently holds around 3.18 million shares of the company, the passive stake amassing 9.64% of the common stock.

On Feb. Deerfield revealed holding shares of Auspex Pharmaceuticals Inc (NASDAQ:ASPX). The fund reported ownership of around 1.29 million class E preferred shares. The securities can be converted into shares of common stock on the basis of 0.222 shares of common stock per one unit of preferred stock.

As of September 30, 2013, Deerfield owned around 5.0 million shares of NxStage Medical Inc. (NASDAQ:NXTM), with a reported value of about $66.15 million.

Disclosure: none

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