Targeting Pruritus with Novel Peripherally-Restricted Kappa Agonist Therapeutics - May 2020 - Cara Therapeutics
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Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “objective,” “ongoing,” “plan,” “propose,” “potential,” “projected”, or “up-coming” and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. Examples of these forward-looking statements in this presentation include, among other things, statements concerning plans, strategies and expectations for the future, including statements regarding the expected timing of our planned clinical trials and regulatory submissions; the potential results of ongoing and planned clinical trials; future regulatory and development milestones for the Company's product candidates; the size of the potential markets that are potentially addressable for the Company’s product candidates, including the pruritus market and the potential commercialization of Korsuva™. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this presentation, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include the risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, as well as those set forth from time to time in the Company’s other SEC filings, available at http://www.sec.gov. Any forward-looking statements speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. 2
Pruritus: Large Opportunity Across Different Disease Areas Chronic Kidney Disease (CKD) Pruritus occurs in both patients on hemodialysis ~40 to 50% and those with CKD not yet on dialysis. Chronic Liver Disease (CLD) Patients with CLD, especially cholestatic ~20% to 30% liver disease experience significant pruritus . U.S. Patients Treated for Pruritus: Atopic Dermatitis (AD) Pruritus is a defining symptom of AD ~100% 20 Million . SCRIPTS ANNUALLY # 3 # IQVIA Analysis, 2013
KORSUVA™ (Difelikefalin) Directly Blocks Pruritus Sensory Neurons Macrophages Keratinocytes Mast Cells Tissue Injury T cells KORSUVA TNFR RTK ETA 5HTR IL-31RA TGR5 PAR2 H1 TRPV1 TRPA1 Mrgprs TLR3/7 OSMR Kappa Pruritus Receptor 4 Source: Adapted from Pflugers Arch . 2013 December ; 465(12): . doi:10.1007/s00424-013-1284-2
Development Pipeline STAGE OF DEVELOPMENT Commercial Rights Program Indication Preclinical Phase 1 Phase 2 Phase 3 (ex-Japan and S. Korea)^ KORSUVA™ US- Cara Pruritus CKD-HD** EU/Other- VFMCRP# Injection Oral Pruritus CKD Cara KORSUVA™ (III-V) Oral Pruritus CLD Cara KORSUVA™ Oral Pruritus Atopic Cara KORSUVA™ Dermatitis The FDA has conditionally accepted KORSUVA™ as the trade name for CR845 / difelikefalin for pruritic indications. CR845 / difelikefalin is an investigational drug product, and its safety and efficacy have not been fully evaluated by any regulatory authority. ^ Commercialization rights to CR845 in defined indications - Japan: Maruishi Pharma; South Korea: CKD Pharma ** Breakthrough Designation for IV CR845 for Pruritus CKD-HD # VFMCRP and Cara have rights to promote in Fresenius Medical Care dialysis clinics in the US under a profit share agreement 5 CKD-HD: Chronic Kidney Disease- Hemodialysis; CLD: Chronic Liver Disease
KORSUVA™ Injection for Dialysis Patients 6
US Market Opportunity for KORSUVA™ Injection in Dialysis Patients 60% of ESRD patients have pruritus2,3 >500K ~40% patients on dialysis have moderate to severe pruritus Per NKF, >500K patients undergoing KORSUVA™ granted Per Nov. 2018 CMS rule: dialysis in the US1 Breakthrough Therapy within the ESRD Prospective Designation for CKD-aP Payment System all new • ~60% have some form of pruritus2,3 dialysis drugs eligible for • Itching severity associated with worsening • Significant unmet need reimbursement at ASP for 2 Quality of Life (QoL) Sleep disturbance, • No FDA approved yrs under TDAPA, effective depressed mood/anxiety, socialization therapies Jan. 1, 20204 • Increased mortality risk 1. National Kidney Foundation 2. Pisoni RL, Wikstrom B, Elder SJ, et al. Nephrol Dial Transplant. 2006;21:3495-3505. 3. Ramakrishnan et al. International Journal of Nephrology and Renovascular Disease. 2014:7 1–12 7 4. https://www.govinfo.gov/content/pkg/FR-2018-11-14/pdf/2018-24238.pdf
KORSUVA Injection in CKD-HD: Phase 3 Program KALM-1 trial (US): KALM-2 trial (Global): Open label safety studies: Positive Data Readout Positive Data Readout Closing Q2, 2020 • Met Primary and • Met Primary and Key • > 1500 total exposures Secondary Endpoints Secondary Endpoints • > 500 at 6 months • Topline Data: • > 300 at 1 year Q2, 2020 8 8
KALM-1/2: General Pivotal Study Design SCREEN 1:1 RANDOMIZATION END OF TREATMENT Endpoints: Week 12 Primary RUN-IN INTRAVENOUS BOLUS TREATMENT • Proportion of subjects achieving ≥3 point improvement from baseline in KORSUVA 0.5 mcg/kg weekly mean of daily worst itching after each hemodialysis session 52 Week intensity NRS (WI-NRS) Open-Label Secondary Extension Ongoing • Proportion of subjects achieving Placebo ≥4 point improvement in WI-NRS after each hemodialysis session • Change from baseline in itch- related Quality of Life as measured by Skindex-10 and 5-D Itch 7 Days 12 Weeks questionnaires Subjects Undergoing Hemodialysis Safety assessments With Moderate-to-Severe Pruritus (WI-NRS ≥ 4 or 5) 9
Primary Endpoint: ≥3 point improvement WI-NRS (Week 12) U.S. KALM-1 Trial Global KALM-2 Trial P = 0.00002 60% P = 0.020 60% 54% 51% 40% 40% 42% 20% 28% 20% 0% 0% Placebo (N = 189) KORSUVA (N = 189) Placebo (N = 236) KORSUVA (N = 237) 10 Estimated percentage & P-value based on a logistic regression model with terms for treatment group, baseline WI-NRS score, region and strata Missing data imputed using multiple imputation (MI) under missing at random (MAR) assumption
Key Secondary Endpoint: ≥4 point improvement WI-NRS (Week 12) U.S. KALM-1 Trial Global KALM-2 Trial P = 0.00003 60% P = 0.010 60% 40% 40% 41% 39% 20% 20% 28% 18% 0% 0% Placebo (N = 189) KORSUVA (N = 189) Placebo (N = 236) KORSUVA (N = 237) 11 Estimated percentage & P-value based on a logistic regression model with terms for treatment group, baseline WI-NRS score, region and strata Missing data imputed using multiple imputation (MI) under missing at random (MAR) assumption
Change from Baseline in WI-NRS Over Time Significant differences observed in WI-NRS starting at Week 1 and sustained through treatment period 0 U.S. KALM-1 Trial 0 Global KALM-2 Trial Change from Baseline -1 -1 * * Placebo (N=189) Placebo (N=236) * * -2 -2 ** * ** * ** * * -3 -3 * * * * ** ** ** ** * * * * ** ** ** * KORSUVA (N=189) KORSUVA (N=237) -4 -4 Baseline 1 2 3 4 5 6 7 8 9 10 11 12 Baseline 1 2 3 4 5 6 7 8 9 10 11 12 Weeks in Double-blind Treatment Period Weeks in Double-blind Treatment Period LS Means over time LS Means over time * P < 0.05, ** P < 0.001 LS Means from MMRM with terms for treatment group, week, week by treatment interaction, baseline score, region and strata 12 Missing data imputed using multiple imputation (MI) under missing at random (MAR) assumption
KALM-2 & KALM-1 Pooled: Most Commonly Reported TEAEs TEAEs at ≥5% frequency Placebo KORSUVA (N= 424) (N= 424) Diarrhea 20 (4.7) 37 (8.7) Dizziness 14 (3.3) 26 (6.1) Vomiting 20 (4.7) 25 (5.9) Nausea 19 (4.5) 21 (5.0) Fall 17 (4.0) 21 (5.0) 13 KALM-1 KALM-2 Pooled AEs
KORSUVA™ Injection NDA and U.S. Commercial Launch NDA Submission – 2H, 2020: U.S. Commercial Launch– 2021: Breakthrough Designation 40% of Hemodialysis Patients: & Priority Review Eligible moderate-severe CKD-aP 60% of population experiences pruritus 40% moderate-severe CKD-aP Total patient population in U.S. = 500k 14
Established Commercial Agreements: KORSUVA Injection Tiered Royalty By Sales: EU $440 million Commercial Milestones Maruishi Tiered Royalty By Sales: Japan Pharmaceutical Co., Ltd. ~$10 million Commercial Milestone# Tiered Royalty By Sales: S. Korea 15 • # 1 Billion Yen
OralKORSUVA™ Development Programs 16
Development Programs for Oral KORSUVA™ Phase 2 Trial Complete Phase 2 Trial Phase 2 Trial CKD-aP (Stage III-V) Atopic Dermatitis- Chronic Liver Disease- associated Pruritus associated Pruritus ~25 to 30% experience pruritus ~87% to 100% experience pruritus ~30% experience pruritus 17
Oral ™ KORSUVA for CKD-associated Pruritus 18
US Market Opportunity in CKD-aP: Non-Dialysis ~7.3 million 33% diagnosed with CKD (IQVIA est) receive pruritus tx Per NKF, CKD is a significant No FDA approved therapies – Oral KORSUVA™, if under-recognized US public large unmet medical need approved for pre-dialysis health issue • Commonly used medications: patients, would not fall • ~30 million people affected anti-histamines, corticosteroids, under ESRD bundle gabapentin, anti-depressants etc. payment system 19
Oral KORSUVA™ for CKD-aP: Phase 2 Trial Design SCREEN RANDOMIZE END OF Endpoints: Week 12 (N = 240; 1:1:1:1) TREATMENT Primary RUN-IN TREATMENT (Once Daily) • Change from baseline in weekly mean of daily Worst Itching Intensity NRS Difelikefalin: 0.25 mg (WI-NRS) score Difelikefalin: 0.5 mg Secondary & Additional • Change from baseline in itch-related Difelikefalin: 1.0 mg QoL ✓ Skindex-10 Placebo ✓ 5-D Itch • Proportion of subjects achieving >3 points improvement from baseline in 7 Days 12 Weeks weekly mean of daily WI-NRS score Baseline Mean Change WI- • WI-NRS complete responder; patient Mean WI-NRS > 5 NRS at Week 12 global impression of change 20
Primary Endpoint: Change from Baseline to Week 12 for WI-NRS Significant difference in WI-NRS in patients treated with 1 mg oral KORSUVA™ compared to placebo Difelikefalin Placebo 0.25 mg 0.50 mg 1.00 mg 0 -1 Change from Baseline -2 -3 -4 -5 p=0.018 LS Mean from MMRM with terms for treatment group, week, week by treatment interaction as fixed effects; baseline score and strata as covariates; patient as a repeated measures Missing data imputed using multiple imputation (MI) under missing at random (MAR) assumption 21
Change in Worst Itching Intensity NRS Over Time 0 Significant differences Placebo (N = 67) -1 between 1mg oral KORSUVA and placebo Change from Baseline DFK 1.00 mg (N = 67) -2 observed in WI-NRS * starting at week 2 -3 ** ** ** ** * -4 * * * P < 0.05, ** P < 0.01 * * -5 Weeks in Double-blind Treatment Period LS Means over time LS Mean from MMRM with terms for treatment group, week, week by treatment interaction as fixed effects; baseline score and strata as covariates; patient as a repeated measures 22 Missing data imputed using multiple imputation (MI) under missing at random (MAR) assumption
Additional Endpoint: Complete Responder NRS Complete Responder* 50 p=0.006 40 p=0.027 p=0.037 % of Subjects 30 20 33% 32% 39% 10 14% 0 Placebo 0.25 mg 0.5 mg 1.0 mg Difelikefalin *80% of NRS scores at Week 12 equal to 0 or 1. Estimated percentage and P-values are based on a logistic regression model with terms for treatment group, baseline WI-NRS score, and renal disease status 23 Missing data imputed using multiple imputation (MI) under missing at random (MAR) assumption
Executive Summary & Next Steps • Oral KORSUVA met the primary endpoint:1mg dose advancement to Phase 3 - Primary: Change from baseline in weekly mean WI-NRS score - Dose-dependent statistically significant improvement in Complete Responders • Oral KORSUVA was generally well-tolerated: safety profile similar to Phase 3 KORSUVA Injection studies Projected End-of-Phase 2 FDA meeting/Phase 3 start: 2H,2020 24
Oral KORSUVA™: Additional Pruritus Development Programs Atopic Dermatitis Chronic Liver Disease 25
Atopic Dermatitis Associated Pruritus: Phase 2 Trial Ongoing END OF END OF Study RANDOMIZE SCREEN (N=320) TREATMENT EXTENSION 320 adult patients with AD (80/arm) and moderate to severe RUN-IN TREATMENT EXTENSION pruritus KORSUVA: 0.25 mg BID Primary Endpoint: • Change from baseline in the weekly KORSUVA: 0.5 mg BID mean of the daily 24-hour WI-NRS score at Week 12 KORSUVA: 1 mg BID Secondary Endpoints: • Responder analysis (Week 12): Placebo: BID Change from baseline in I-NRS score of >4 points 7 Days 12 Weeks 4 weeks • Change in itch related QoL: Skindex-10, 5-D Itch scales & Sleep Baseline: Interim Statistical Assessment Mean Change WI- Q2, 2020 NRS at Week 12 Quality Assessment at week 12 Mean NRS > 5 • Safety assessments 26
Pruritus Associated with Primary Biliary Cholangitis (PBC): Phase 2 END OF Study SCREEN 1:1 RANDOMIZATION TREATMENT A 16-week, double blind, randomized, PBO-controlled study in PBC patients RUN-IN TREATMENT with moderate to severe pruritus Oral KORSUVA 1 mg BID (N=30) Primary Endpoint: • Change from baseline in the weekly mean of the daily 24-hour WI-NRS score at week 16 Placebo BID (N=30) Secondary Endpoints: • Change in itch related QoL: Skindex-10 & 5-D Itch scales at week 16 7 Days 16 Weeks • Responder analysis (Week 16): Change from baseline in weekly main of daily worst NRS score of >3 points • Safety assessments 27
Financial Cash/marketable securities Highlights (March 31, 2020) $179.8M Net loss (March 31, 2020) ($28.9M) Shares outstanding ~46.7M 28
Projected Milestones –2020 Pruritus / KORSUVA™ Injection Pruritus / Oral KORSUVA™ Top-line data: KALM-2 Ph 3 Interim statistical analysis 2Q,2020 trial (CKD-aP in dialysis pts) Phase 2 Atopic Dermatitis Top-line data Ph2 trials: 2H,2020 NDA submission Atopic Dermatitis Chronic Liver Disease Complete EoPII meeting: 2H,2020 Phase 3 Program CKD-aP (Stage III-V CKD) 29
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