Cara Therapeutics, a clinical-stage biotech developing novel opioid pain medication, filed on Friday with the SEC to raise up to $60 million in an initial public offering. The Shelton, CT-based company, which was founded in 2004 and booked $11 million in grant and collaboration revenue for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol CARA. Cara Therapeutics initially filed confidentially on October 4, 2013. Stifel and Piper Jaffray are the joint bookrunners on the deal. No pricing terms were disclosed.
